Gold and Silver Prices Dip as Strong U.S. Economic Data Boosts Dollar

Key U.S. economic indicators show robust performance, reducing the appeal of non-yielding assets like gold and silver.

Gold and silver prices fell due to strong U.S. economic data, including the Core PCE Price Index and Chicago PMI.
The U.S. dollar strengthened, pressuring precious metals as the Federal Reserve's rate cut pace is expected to be measured.
Gold posted a 2% monthly gain despite a recent dip, while silver saw a decline in August.
India's demand for silver is set to double in 2024, driven by the solar, electronics, and investment sectors.
Investors are closely watching upcoming Federal Reserve comments and geopolitical developments for further market direction.