Silver Outperforms Metals as Dollar Strength Caps Gold Following Fed Rate Repricing

Silver prices rose sharply while gold posted modest gains in late Tuesday trading, as lower oil prices eased immediate inflation concerns from the Strait of Hormuz. Gold traded near 4356.80 dollars per ounce, up 0.32 percent, while silver reached around 66.97 dollars, advancing 1.63 percent. A firm dollar and Treasury yields kept gold's upside limited. U.S. equities finished mixed, with the Nasdaq hitting a record close, and European markets were slightly firmer overall. Focus remains on the Fed, with futures pricing a 53.1 percent chance of an October rate hike. Upcoming data includes manufacturing PMIs, jobless claims and durable goods orders. Brent crude settled near 99.25 dollars per barrel. This helped silver but partly offset gold's safe-haven appeal. Technically, gold faces resistance at 4393.68 dollars with support at 4333.11 dollars, while silver targets 67.231 dollars on the upside.