Metals Stocks: Gold, silver recover as dollar holds below 20-year highs

Gold futures climbed on Friday, shrugging off rising inflation in Europe, as the U.S. dollar traded below a 20-year high reached earlier this week.

Price action

• Gold futures GCZ22, +0.47% expiring in December climbed $2.80, or 0.2%, to $1,671 per ounce on Comex.
• Silver futures SIZ22, +1.43% due in December advanced 24 cents, or 1.3%, to $18.96 per ounce.
• Palladium futures PAZ22, -0.12% for December delivery fell $14, or 0.6%, to $2,197 per ounce, while platinum futures PLF23, -0.17% for January delivery fell $1.80, or 0.2%, to $858 per ounce.
• Copper futures HGZ22, +0.22% for December delivery climbed 1 cent, or 0.2%, to $3.425 per pound.

Whats happening

Gold has continued to trade near its highest level in a week despite another batch of worrying inflation data out of the eurozone, which showed consumer-prices are rising at their fastest pace since World War II, one day after an inflation report out of Germany revealed something similar.