Gold, Silver, and Platinum End Losing Streak as Treasury Yields Decline

Gold, silver, and platinum ended a three-session losing streak, with spot gold trading around $4,170 per ounce following an overnight gain of $71.26, or 1.7%, according to a market summary by Guardian Gold.

Gold futures on the Comex exchange rose 1.5% at settlement, snapping three consecutive sessions of losses.

The rebound was driven by a drop in the 10-year U.S. Treasury yield by up to 10 basis points to around 5.08%, alongside a weaker dollar, offsetting the impact of hot inflation data.

The U.S. Producer Price Index rose 1.3% month-on-month and 6.3% year-on-year in September, while retail sales increased by 0.8%. The report also noted that China's central bank purchased 23 tonnes of gold in September.

What Do These Terms Mean?

Spot Gold: The price for immediate delivery of the metal in the global market, serving as the most widely followed benchmark price per ounce.

Futures Contracts: An agreement to buy or sell gold at a specified price today with delivery at a later date, traded on the Comex exchange.

Treasury Bond Yield: The percentage return an investor earns from holding a government bond, which rises when bond prices fall.

Basis Points: A small unit of measurement for interest rates or yields, where 100 basis points equal one percent.

Producer Price Index: An index that measures the change in prices of goods and services at the production stage, providing an early signal of inflation trends.