The Federal Reserve recently cut short-term interest rates amid declining inflation and optimistic market conditions. Silver demand is projected to rise due to industrial use, while oil faces pressure from oversupply signals. The labor market remains strong despite recent job growth slowdown, influencing potential future rate adjustments.
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.
Markets experienced volatility linked to Middle East tensions and a port strike, yet a strong September jobs report kept stocks marginally positive. Upcoming week highlights include the October CPI, consumer sentiment updates, and major Q3 earnings from financial giants. Mortgage refinancing activity declined amid rising rates, while consumer sentiment weakened.
Gold rallied toward a record as expectations for Federal Reserve rate cuts grow and traders ramp up bets on a second Donald Trump presidency
The final trading week of the month kicked off with stocks sliding on Monday, setting investors up for a losing month where much of the optimism of the early summer has fizzled into more tempered expectations of the Fed’s tightening campaign.
Copyright © 2002- | Precious Metals International, Ltd. All Rights Reserved.