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Gold dips 1.5% while silver rises nearly 5% amid strong US labor and manufacturing data.

Market News
20 Aug 2026
Kitco
View Source
Neutral
pluang ai news

Gold prices fell about 1.5% to near $4,454.70 an ounce, while silver gained nearly 5% to around $66.67, reacting to stronger-than-expected US labor and regional manufacturing reports. Initial jobless claims dropped below forecasts, and the Philadelphia Fed manufacturing index surged, signaling robust economic activity. These data tempered the recent Treasury-driven rally in precious metals, with gold more sensitive to rising yields and silver supported by industrial demand. Investors now await upcoming PMI readings for further direction amid geopolitical tensions affecting oil prices and inflation concerns.

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