Gold, silver advance as dollar weakens, Fed rate expectations face inflation test Spot #gold# and #silverprices# were sharply higher in late U.S. trading Monday, supported by a weaker U.S. dollar and a steep decline in crude oil prices as investors responded to renewed hopes for a diplomatic resolution to the U.S.-Iran conflict. The retreat in energy prices eased some inflation concerns ahead of Tuesday's U.S. consumer price index report, although Friday's stronger-than-expected employment figures continued to support expectations for another Federal Reserve interest rate increase in December. A broad recovery in North American and European equity markets also reflected improving investor sentiment following last week's technology-led selloff. Spot gold was trading near $4,140.40 an ounce, up $69.40, or 1.70%, while spot #silver# was trading near $53.320, up $1.350, or 2.60%.