At-a-Glance
Today’s Top Highlights
The Gold market has been on the forefront of many traders minds in terms of growth over the last year, hitting new all time highs and showing strong momentum. While that has been strong, Silver has seen a similar story with strong growth to the upside and hitting many new high prices, and is closing in at the all time high price near $49/oz. Back in June, Silver was able to break out to the upside over the March high price and the market has been steadily moving higher since.
There was some strong economic data today with GDP, Durable Goods, Initial Jobless Claims and Existing Home Sales, where all of these reports came in better than expected. The GDP report came in at 3.8% which was the highest number recorded since December of 2023. With that said, the equity markets saw more selling pressure with the Russell leading those markets down near 0.8% on the day. Tomorrow, there will be a Core PCE report, which is the Fed’s primary inflation indicator, that is expected to be at 2.9% and could have a strong impact on the precious metals and equities as we wrap up September.
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