U.S. Treasury yield decline sparks strong gains in both Gold
Recent support in the precious metals across the board is partially based on the CME’s FedWatch tool which is predicting an 88.5% probability that the Federal Reserve will not raise their benchmark Fed funds rate at the September FOMC meeting.
However, whether recent support in both gold and silver marks the beginning of a sustained rally or a short-term upside move will be largely influenced by Chairman Powell's speech in Jackson Hole Wyoming on Friday.
However, whether recent support in both gold and silver marks the beginning of a sustained rally or a short-term upside move will be largely influenced by Chairman Powell's speech in Jackson Hole Wyoming on Friday.
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🟢The Dow Jones Industrial Average shed 36 points, or 0.1%, after being up more than 200 points at session highs. The S&P 500 slipped 0.2%, while the Nasdaq Composite dipped nearly 0.3%.
