Gold, silver gain amid friendly outside markets

Gold and silver prices are moderately higher in midday U.S. trading Wednesday. A lower U.S. dollar index, a dip in U.S. Treasury yields and higher crude oil prices at mid-week are metals-friendly daily outside market forces. February gold was last up $9.50 at $1,798.20 and March Comex silver was last up $0.226 at $22.755 an ounce.

A bevy of U.S. economic data released today hit an insignificant impact on the precious metals markets. Gold and silver bulls were impressed by their metals' performances today despite the better risk appetite in the marketplace.

Global stock markets were mixed in overnight trading. U.S. stock indexes are higher at midday. President Biden on Tuesday afternoon said he and Sen. Joe Manchin will work on getting a U.S. spending bill complete, after Manchin nixed the latest White House proposal. That has helped to assuage the marketplace.

Trading activity in many markets is likely to wane to end the trading week, ahead of the Christmas holiday. Markets are closed on Friday.