Gold Edges Higher While Silver Slips on Oil Inflation Risks

Spot gold rose 0.23% to around 4060.90 dollars per ounce, while silver fell 1.52% to 57.68 dollars. Softer US CPI and PPI data eased Treasury yields and the dollar, yet Strait of Hormuz tensions kept oil prices elevated and sustained inflation concerns. North American equities advanced, with the S&P 500 gaining 0.4%, while European markets were mixed. July Fed rate-hike odds dropped toward 10%. Oil traded near 71.51 dollars a barrel. Gold holds above 4000 but below resistance at 4091-4104, and silver struggles above 58-59. Traders monitor further Fed signals and Middle East developments.