Gold Nears $4200 Amid Mixed Market Signals

Gold and silver prices rose sharply Friday as a softer dollar and bargain buying helped offset pressure from sticky inflation expectations. Spot gold reached about $4,194.50 an ounce, up 1.5%, while silver gained 2.77% to $60.70. U.S. and European stock indices closed higher. The Michigan consumer sentiment index fell to 46.3, yet inflation expectations increased; September payrolls added just 29,000 jobs with downward revisions to prior months. Traders see low odds of an October rate hike but an 84% chance by December. The 10-year Treasury yield held near 5.24% and the dollar index near 102.10. Geopolitical risks around the Strait of Hormuz persist despite eased strike fears after talks. Brent crude settled at $104.72 and WTI at $91.85. Technically, gold faces resistance near $4,225-$4,233, while silver eyes $61.72-$63.06.