Gold and silver futures trade just shy of the highest level in a year on Thursday as a weaker U.S. dollar and expectations that the Federal Reserve may cut...
Gold and silver futures trade just shy of the highest level in a year on Thursday as a weaker U.S. dollar and expectations that the Federal Reserve may cut interest rates this year have boosted precious-metals prices.
Price action Market drivers After briefly touching their highest levels in more than a year earlier in the week, gold and silver are still holding strong following a spate of U.S. inflation data and minutes from the Federal Reserve’s March meeting showing Fed staff expect a mild recession to begin later this year.
Fed funds futures continue to price in at least two interest rate cuts before the end of the year, according to the CME’s FedWatch tool. On the other hand, the median forecast from the Fed’s “dot plot” has rates remaining on hold until 2024, and Chairman Jerome Powell has said he won’t cut rates until inflation has been vanquished.
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