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Gold price up amid bullish outside markets

Gold and silver prices are higher in early U.S. trading Thursday, supported by bullish daily outside market forces that include a solidly lower U.S. dollar index, higher crude oil prices and a dip in U.S. Treasury yields. December gold was last up $8.70 at $1,996.20. December silver was last up $0.37 at $23.16.

Asian and European stocks were mixed to firmer overnight. U.S. stock indexes are pointed to firmer openings when the New York day session begins. The marketplace has mostly digested Wednesday’s FOMC meeting results. The Fed did not raise U.S. interest rates, which was what the marketplace expected. Fed Chairman Jerome Powell hinted the central bank might be done raising interest rates for now but did not rule out future rate hikes.

The Bank of England is meeting on its monetary policy Thursday. No changes are expected from the BOE.

Friday comes the U.S. employment situation report for October. The key non-farm payrolls number is seen coming in at up 170,000 compared to a rise of 336,000 in the September report.

The key outside markets today see the U.S. dollar index solidly lower. Nymex crude oil prices are up and trading around $81.75 a barrel. The yield on the benchmark U.S. Treasury 10-year note is presently fetching 4.718%.

Read more: Kitco