Gold
Spot gold remains close to its record highs this morning, trading around $3,636.59 per ounce after earlier peaks above $3,673.95 this week. It is consolidating but still very firm, as markets expect the Federal Reserve to ease policy soon. Softer U.S. producer price index (PPI) data and revised job reports showed weaker job growth. These weakened data points pushed bond yields lower and lowered the dollar. Lower yields mean less cost for holding non-yielding gold. Many traders now believe the Fed will cut rates by 25 basis points next week, with a smaller chance of a 50 basis point move. Those expectations underlie gold’s current strength.
Silver
Silver is trading near $41.07 per ounce, slightly down from yesterday but still high. It feels pressure alongside gold but with more volatility. Silver’s gains follow gold’s rise and show industrial demand hopes too. Investors are using silver both as a hedge and a play on rate cuts. The dollar’s drop and weakening yields helped silver move up. Silver remains near its highest since 2011. If inflation surprises or jobs data reverse, silver may pull back.
Other news that is affecting these spots
The biggest influences right now are weak U.S. inflation data, soft labor reports, and strong expectations for Fed easing. Unusually low PPI, job growth below forecasts, and revised weak labor numbers have made traders more confident the Fed must act. Political risk adds fuel. The Trump administration has appealed a court ruling about the attempted dismissal of a Fed governor, raising concerns over Fed independence. Investors dislike threats to institution stability. Also, global uncertainty (geopolitics, trade worries) pushes safe-haven flows. The stock market is mixed; gains in some sectors but caution in others. The dollar is weaker, bolstering precious metals. Yield curves are also under pressure. All this makes gold and silver more attractive now.
Platinum
Platinum held fairly steady at about $1,383.10 per ounce, down slightly. Its price reflects industrial demand, especially auto use, and tight supply. Platinum is less sensitive to Fed policy moves than gold or silver. But when yields fall and inflation fears rise, platinum often gets a lift too.
Palladium
Palladium is trading around $1,175.86 per ounce, showing small gains. Its demand depends heavily on automotive catalysts and industrial use. Supply remains tight in many key producing regions. Even though palladium is not as strong a safe-haven play, it does benefit when metals markets as a whole are bullish.
Gold and silver are clearly riding the wave of rate-cut expectations, weakening dollar, and policy risk. When inflation or employment data surprises, those are triggers for sharp moves. Platinum and palladium move more slowly but are helped by the same macro tailwinds today.
