Rolling coverage of the latest economic and financial news
Traders have also been piling into silver, driving it over $40 per ounce for the first time since 2011.
KCM Trade’s chief market analyst, Tim Waterer, says:
“Silver is making a move higher in response to expectations of lower U.S. rates, while a tight supply market is helping to maintain an upward bias.”
This week’s rally in gold and silver began mid-morning yesterday and coincided with a social media post by US President Trump who claimed that prices in the USA are “WAY DOWN” with virtually no inflation.
However, this narrative contrasts with recent economic data showing persistent inflationary pressures remain and comes as President Trump continues his dovish reshaping of the Fed Board as he pushes for sooner and deeper Fed interest rate cuts, into an economy which is growing at ~3.5% in Q3 according to the latest Atlanta Fed GDP Now reading
Continue reading…Rolling coverage of the latest economic and financial newsTraders have also been piling into silver, driving it over $40 per ounce for the first time since 2011.KCM Trade’s chief market analyst, Tim Waterer, says:“Silver is making a move higher in response to expectations of lower U.S. rates, while a tight supply market is helping to maintain an upward bias.”This week’s rally in gold and silver began mid-morning yesterday and coincided with a social media post by US President Trump who claimed that prices in the USA are “WAY DOWN” with virtually no inflation.However, this narrative contrasts with recent economic data showing persistent inflationary pressures remain and comes as President Trump continues his dovish reshaping of the Fed Board as he pushes for sooner and deeper Fed interest rate cuts, into an economy which is growing at ~3.5% in Q3 according to the latest Atlanta Fed GDP Now reading Continue reading…
