As the globe's largest economy gains momentum, the likelihood grows that the U.S. Federal Reserve will taper monetary stimulus measures. That would embolden the value of the dollar, which typically performs the inverse of the yellowish metal. Silver futures tracked bullion's performance and rose in value.
"Signs of the U.S. recovery are rebuilding confidence," head of currency and metal trading Bernard Sin with bullion refiner MKS SA in Geneva, Switzerland told the news source on Wednesday. "The tapering mood is still on. Physical demand is there, but not as huge as before."
At 9:56 a.m. on Wednesday, gold futures climbed 0.44 percent, a $5.44 rise to $1,228.86 per troy ounce. At 9:55 a.m., silver futures rose 1.24 percent, a 24-cent increase to $19.37 per troy ounce.
Reuters reports gold futures rose on Tuesday but the precious metal's annual gains streak appears less than a month from closing at 12 years.
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