New Delhi, Oct. 15 -- Gold and silver prices rose on Thursday, October 15, after falling for three consecutive days, offering some relief after a sharp selloff. Gold prices rose 0.64% to $4,138.34 per ounce (at the time of writing), recovering from Wednesday's 1.11% decline.

Silver prices gained 0.37% to $55.944 per ounce after plunging 6.29% the previous day. Here's what investors need to know and watch next.

Gold and silver prices came under renewed pressure following hotter-than-expected US consumer inflation data and shifting expectations for Federal Reserve interest rate hikes.

Manav Modi, Commodities Analyst at Motilal Oswal Financial Services, said gold pared its losses after New York Fed President Williams indicated that anothe...