Zaner Daily Precious Metals Commentary
Wednesday, May 15, 2024Not only did the Fed's Powell thwart a surge in inflationary fears following yesterday's hotter-than-expected US PPI readings, but he also seems to have rekindled US rate cut hopes!
However, the second critical monthly US inflation reading in the form of CPI later this morning will be difficult to discount if it posts hotter than expected readings.
Certainly, the gold and silver markets will continue to track and react to the ebb and flow of US rate cut prospects, but with strength in a wide array of physical commodities, a breakdown in the US dollar, steady to lower US interest rates, and the potential for fresh inflation fuel from US and Chinese trade tariffs, it is possible that gold and silver will begin to behave like inflationary hedges...[MORE]
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