Gold, silver see steady price action ahead of U.S. inflation report

(Kitco News) - Gold and silver prices are not trading far from unchanged in early U.S. dealings Friday. Focus of the marketplace to end the trading week is on the U.S. producer price index report for August, which is seen coming in at up 0.6% from July. October gold futures were last up $0.60 at $1,798.40. December Comex silver was last up $0.013 at $24.19 an ounce.

Global stock markets were mostly firmer in overnight trading. The U.S. stock indexes are pointed to higher openings when the New York day session begins. It’s been a choppy week for the U.S. stock market. After some risk aversion exhibited earlier this week, traders and investors appear to be more upbeat to end the trading week.  

In overnight news, Dow Jones Newswires reported the Federal Reserve will likely begin to gradually taper its $120 billion a month bond-buying program (quantitative easing) in November.