Gold futures rebounded Wednesday after another round of downbeat economic data and the inversion of the main measure of the U.S. Treasury yield curve, a phenomenon seen as a recession indicator.
Gold for December delivery on Comex rose $8.80, or 0.6%, to $1,522.90 an ounce, while September silver was up 17 cents, or 1%, to $17.155 an ounce.
The yield on the 10-year U.S. Treasury note traded below the yield on the 2-year note, marking an inversion of the most closely followed measure of the curve. The 3-month vs. 10-year measure of the curve has been inverted since earlier this year.
September palladium fell $20, or 1.4%, to $1,431.50 an ounce, while October platinum was off $5.50, or 0.6%, at $854.20 an ounce.
September copper fell 3.3 cents, or 1.3%, to $2.597 a pound.