Gold and silver rise as weakening dollar lifts bullion demand

Gold and silver prices gained ground on September 8 as a softer U.S. dollar supported precious metals while investors positioned for critical U.S. inflation data.

Spot gold rose 0.6% to trade at $4,432.79 per troy ounce, while U.S. gold futures held virtually flat at $4,478.40 per ounce. Silver climbed 1.2% to $66.96 per ounce.

The U.S. dollar index dropped 0.3%, making greenback-denominated bullion more affordable for holders of other currencies. Market participants are closely watching upcoming U.S. producer and consumer price figures, which are expected to shape the Federal Reserve's path on interest rates. Ongoing geopolitical tensions also continued to underpin haven demand for bullion.

N.Tebrizli