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Gold, Silver Reach Three-Month Highs as Inflation Fears Grow

  • Metals were also helped by declines in equities and the dollar
  • Fed minutes due Wednesday will be parsed for clues on outlook
Processing ABC Bullion Gold and Silver at an ABC Refinery Smelter
Photographer: David Gray/Bloomberg
Updated on

Gold and silver reached the highest prices in more than three months, extending a recovery from a slump as growing inflation concerns and assurances on monetary policy pull investors back to the metals.

Prices rose as U.S. stocks declined for a second day, with investors weighing the rush to reopen the economy against inflationary pressure from a rise in commodity prices. The precious metals, which are often used as a hedge against rising consumer prices, are also benefiting from a weaker the dollar and wavering Treasury yields.