Investors anticipate a likely Federal Reserve rate cut in 2024, but future cuts for 2025 are debated due to persistent inflation. The economy shows growth, evidenced by improved PMI readings and rising retail sales, despite volatility in crude oil and the Dow’s declines. The current account deficit hit a record high, affecting monetary policy expectations.
Gold and silver prices are surging due to safe-haven demand amid geopolitical tensions and economic uncertainty, with gold reaching a record $2,758.49. Demand for gold is also spurred by inflation concerns, as seen in retail sales at Costco. Investors are diversifying portfolios, increasing the appeal of precious metals as a hedge.
The Federal Reserve’s recent interest rate cuts have reduced mortgage rates, potentially increasing homebuyers’ purchasing power, but the U.S. housing market remains strained due to a housing shortage and rising expenses. Gold prices hit an all-time high due to economic uncertainties and strong demand. The U.S. economy grew by 3% in Q2, and a decline in oil prices is expected as Saudi Arabia unwinds production cuts. U.S. unemployment claims fell, indicating labor market strength.
U.S. stocks regained ground on Monday after a difficult week, with inflation concerns influencing potential interest rate cuts. The Federal Reserve proposed scaling back capital requirements for banks, while Europe’s auto industry faces hefty emissions fines. Oil prices fluctuated due to demand forecasts, and shifting consumer interest in electric vehicles highlighted market challenges. Despite a slight increase in unemployment claims, the labor market remains steady, and mortgage rates dropped in anticipation of rate cuts. Investors, focusing on upcoming Fed meetings and diversifying portfolios, boosted precious metal prices.
Gold prices are just slightly up and silver prices are lower in early U.S. trading Tuesday, as a big and busy week of U.S. economic reports lies ahead.
Gold prices are solidly up and hit another record high in early U.S. trading Tuesday. Silver prices are also on the march higher and hit a four-week high overnight.
Gold and silver prices are lower in early U.S. trading Monday, on some routine profit-taking from the shorter-term futures traders after recent good price advances
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…
Copyright © 2002- | Precious Metals International, Ltd. All Rights Reserved.