Gold and Silver Advance as Jobless Claims Curb Fed Hike Repricing

Spot gold and silver prices climbed in early U.S. trading Thursday. Gold stood near $4,181.80 an ounce, up 0.62%, while silver reached $61.090, gaining 1.33%. Softer inflation readings kept October Fed-hike odds at 37%, well below 70% earlier in the week.

Initial jobless claims fell to 197,000 versus expectations of 201,000, yet 10-year Treasury yields touched 5.34% and 30-year yields hit 5.68%. Elevated oil prices, with Brent at $100.10 and WTI at $91.78, sustain inflation concerns tied to the unresolved Hormuz Strait situation.

Technically, gold eyes resistance at $4,190–$4,210 with support at $4,160. Silver targets $61.72–$62.07 on the upside and $60.64 on the downside. The dollar stayed firm amid mixed equity futures.