Economy / Markets
Gold and silver rebound as the dollar eases and oil hands back gains
Spot gold rose about 1.3 percent to $4,158.63 an ounce on Thursday, recovering from a one-week low, while spot silver jumped roughly 3.2 percent to near $57.31 as the dollar softened. Markets weighed the odds of a Federal Reserve rate increase this month after the inflation reports. Brent crude slipped more than one percent in early trade to about $104.67 a barrel and settled marginally lower near $105.92 as investors weighed shipping risk in the Strait of Hormuz against US efforts to cut petroleum shipping costs, while West Texas Intermediate rose on a larger-than-expected inventory draw.