Gold Spot Price
Gold is trading near $3,375 per ounce this morning, down roughly 0.4–0.5% from yesterday’s two-week high. U.S. December gold futures are also modestly softer, slipping around 0.1–0.2%. The dollar index has firmed about 0.3–0.4%, making gold less attractive for holders of other currencies, while rising Treasury yields are further pressuring non-yielding bullion. Still, gold is finding support amid renewed concerns about the U.S. Federal Reserve’s independence. President Trump’s effort to remove Fed Governor Lisa Cook, which sparked a legal pushback, has kept safe-haven flows resilient. With markets still pricing in roughly a 90% chance of a September rate cut—an expectation reinforced by Fed dovishness—gold retains its underlying bid. Investors are closely eyeing Thursday’s GDP data and Friday’s Personal Consumption Expenditures (PCE), the Fed’s preferred inflation gauge, for direction on interest-rate policy and potential upward pressure toward resistance levels near $3,400–$3,435.
Silver Spot Price
Silver is trading in the high $38s per ounce, down approximately 0.4–0.8% this morning. Intra-day trading sees prices near $38.3–$38.4, with a range between $38.1 and $38.7. Silver continues to shadow gold, penalized by the firmer dollar and rising yields, though still buoyed by rising safe-haven demand tied to Fed uncertainty. Its higher beta profile means it remains particularly sensitive to equity market sentiment, the dollar, and industrial demand signals—especially from China. Traders are now watching whether Nvidia earnings or Friday’s PCE will reignite silver momentum through the psychological $39 threshold.
Other News Driving Gold & Silver
Political drama around Fed independence remains a critical driver, feeding safe-haven demand even as speculators take profits. Markets are pricing an 87–90% chance of a 25-basis-point Fed rate cut in September, reflecting growing bets on looser policy. The firmer dollar and yields continue to exert downside pressure, while geopolitical cross-currents—such as fresh U.S. tariffs on Indian imports and Europe’s political turbulence—reinforce investor caution. Equities hold near-flat as markets await Nvidia’s earnings report. A strong print could lift equities, real yields, and the dollar—capping gold and silver—while weaker results might fuel haven flows. The looming PCE reading will likely be the next catalyst. A softer figure may weaken the dollar and yields, supporting higher metals prices; a hotter print risks reinforcing hawkish risk.
Platinum
Platinum is hovering in the mid‑$1,340s per ounce, a modest decline from recent highs. Today’s slight softening reflects the upward pressure on the dollar, though industrial demand—especially from the auto sector—and tight supply continue to underpin the metal. Unlike gold, platinum often moves independently based on industrial data and mining-related developments.
Palladium
Palladium trades near $1,093 per ounce, roughly flat on the day or slightly lower. This metal is particularly exposed to auto-sector dynamics and supply constraints, and while today’s price action is subdued, any shift in industrial demand or geopolitical risk could quickly affect its trajectory.
Why It Matters
Gold and silver are walking a tightrope between dollar strength and dovish policy expectations. The former caps intraday rallies, the latter underpins dips—especially with institutional risks centered on central bank independence. Meanwhile, platinum and palladium continue to be shaped by industrial and supply-demand fundamentals, with subdued reactions in today’s session. As markets brace for Fed-driven events around GDP and PCE data, plus Nvidia’s earnings, the macro backdrop continues to favor metal buyers who manage risk around central bank guidance and geopolitical noise.
