Investors are anticipating a 25-basis point rate cut by the Federal Reserve amidst mixed economic signals. Oil futures surged following OPEC+’s production cut delay and geopolitical tensions. Nvidia joined the Dow, reflecting its market significance despite challenges. Unemployment claims increased slightly, signaling stagnant job growth, while consumer sentiment improved slightly.
U.S. stock indices fluctuated with FedEx earnings acting as a reality check after recent highs. Gold futures hit record prices over $2600 amidst economic uncertainty and anticipation of Fed rate cuts. Silver showed significant gains with a 10% rise, benefiting from positive investor expectations. The labor market showed improvement with a reduction in unemployment claims. Oil prices dipped despite a notable Fed rate cut, and currency trading saw significant movements with the USD/JPY rallying and EUR/USD facing pressure. Investors continued diversifying into precious metals as a hedging strategy.
Gold’s record-high prices, combined with growing economic uncertainty and market volatility, are bringing a new focus to the precious metal’s role within global financial markets.
Some modest selling pressure in the U.S. dollar is helping gold and silver prices find their footing at the start of the week, following robust volatility last week
Investors need to be patient when it comes to gold. According to one U.S. bank, the precious metal could continue to consolidate through the summer as markets come to terms with the Federal Reserve’s holding pattern.
1. U.S. stocks edged lower on Monday as investors braced for a Federal Reserve policy decision and key inflation data in the week ahead, with Nvidia and Apple events in immediate focus. Stocks are treading water after signs of strength in mixed May Non-Farm Payrolls report reinforced bets that the Fed will keep interest rates…
Amid a lack of fresh, markets-moving news to start the trading week, the precious metals market traders are looking at the key “outside markets” that are leaning friendly for metals prices.
1. After a relatively slow start in the first quarter, silver is making its move, significantly outpacing gold as it trades at an 11-year high. Just ahead of last weekend, silver prices have broken above $30 an ounce. Soaring silver prices have pushed the gold-silver ratio below 80 points, and it has been trading at…
Gold’s record-setting rally may have captured the headlines this year, but it’s silver that’s running harder and faster as the precious metal benefits from robust financial and industrial demand.
1. As gold set another record high, Canadian mining legends Frank Giustra and Pierre Lassonde say the West has lost its power to set the price of gold. With gold futures hitting another record high of above $2,324.80, Giustra and Lassonde pointed to a major shift in the gold market. “The world hasn’t woken up…
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