Analysis

Silver's price rallied sharply on Thursday and gained over 4.30% during the day, trading at $29.90 after bouncing off daily lows of $28.54.

Gold price (XAU/USD) witnessed an intraday pullback from the vicinity of the all-time peak on Wednesday after the latest US consumer inflation figures dashed hopes for a larger interest rate cut by the Federal Reserve (Fed) in September.

Investing.com-- Gold prices rose in Asian trade on Thursday and remained in sight of record highs as traders bet that the yellow metal will still benefit from a lower interest rate environment.

The non-yielding assets like Silver receive support as traders anticipate that the European Central Bank (ECB) will lower interest rates to 4.0% by implementing a 25 basis points rate cut at its upcoming policy meeting later in the day.

Gold fell late in the North American session, down by 0.18%, after hitting a daily peak of $2,529.

Gold (XAU/USD) cycles back up towards the top of its three-week range, trading just shy of $2,530 on Wednesday.

Silver (XAG/USD) trades with a mild positive bias for the third straight day on Wednesday, albeit lacks bullish conviction and is currently placed around the $28.45 region, just below the weekly high touched during the Asian session.

Gold price increases as US Treasury yields drop and the US Dollar weakens.

Silver price (XAG/USD) edges lower to near $28.30 per troy ounce during Tuesday’s Asian hours. Traders adopt caution ahead of the US inflation report scheduled to be released on Wednesday to gain insights regarding the potential magnitude of the Federal Reserve's (Fed) interest rate cut in September

Gold gains ground despite broad US Dollar strength, traders focus on the upcoming US Consumer Price Index (CPI) release.

Gold price (XAU/USD) witnessed an intraday turnaround from the vicinity of the all-time peak and dropped back below the $2,500 psychological mark following the release of the key US monthly employment details on Friday.

Silver price (XAG/USD) inches higher to near $28.00 per troy ounce during the Asian session on Monday. The non-yielding assets like Silver gains ground as weak US jobs data increase the likelihood of a 25 basis-point rate cut by the Federal Reserve (Fed) at its September meeting.

Silver price (XAG/USD) extends gains for the third successive day, trading around $28.90 per troy ounce during the early European hours on Friday.

Gold is trading near all-time highs, awaiting the NFP release just weeks ahead of the highly-anticipated start of a rate cutting cycle, TDS Senior Commodity Strategist Daniel Ghali notes.

Gold rises above $2,500, peaking at $2,523 before profit-taking ahead of key US economic data.

Silver price (XAG/USD) continues to gain ground for the second successive session, trading around $28.40 per troy ounce during Thursday’s European hours.

Gold recovers after the release of under par US job’s data stokes fresh concerns about a hard landing. 

Gold price (XAU/USD) struggles to capitalize on the overnight bounce from the $2,472-2,471 area or a nearly two-week low and oscillates in a narrow trading band during the Asian session on Thursday.

Silver price (XAG/USD) trades with a mild bearish bias near $28.25 on Thursday during the early Asian session. USD rebound and China’s growth pessimism drag the Silver price lower, but firmer Fed rate cut bets might cap its downside. 

Silver price recovers in late trading on Wednesday, gains over 0.74%, and trades at $28.21 at the time of writing.