Gold and Silver Rise for the Week as Tech, Crude and Copper Fall

AI desk brief

Gold traded at $4,050 an ounce and silver at $51.80 on Friday, trimming weekly rebounds from multi-month lows to 4.1% and 6.3%, respectively. October US job gains exceeded twice analysts’ expectations, while unemployment fell to 4.1%; CME FedWatch odds of a December rate increase rose to nearly 77% from 67% during Thursday’s tech selloff. Ten-year TIPS yields rose 2 basis points to 2.62%, which could pressure non-yielding bullion if sustained. Both metals nevertheless retained weekly gains despite stronger tightening expectations; the 10-year inflation breakeven held at 2.24%, its lowest since early August.