Mary Daly

Gold remained under pressure even after a cooler producer price reading, with December futures trading near $3,900 after an overnight move to $3,927.20. Rising Treasury yields, a stronger dollar and expectations for more Federal Reserve tightening are keeping bullion on the defensive.

Gold and silver prices pushed higher after softer U.S. labor data reduced expectations for another Federal Reserve rate increase and weighed on the dollar and Treasury yields. Technical traders are now watching whether gold can clear $4,200 and silver can break $64.50 to confirm a stronger bullish phase.