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Good morning. The precious metals are mostly higher in early U.S. trading.

U.S. calendar features Treasury Budget.

FedSpeak due from Bowman, Barkin, & Kashkari.

There has been notable divergence in precious metals with gold holding within its 2024 consolidation zone while silver is still within striking distance of a new 4-month low.

The gold/silver ratio was just above 92 at yesterday's close and approaching the 17-month high reached in mid-January.

The dollar remains well below Monday's 2 1/2-month high which has underpinned metals prices early today.

Fed speakers gave mixed comments on upcoming Fed policy yesterday, and the market's disappointment that there was not an overall dovish tone has weighed on gold and silver prices...[MORE]

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After a rough start to February, the tide may have turned for gold prices as they remain well clear of Monday's low.

Silver prices have reached a 2-week low while platinum and palladium are also under moderate early pressure.

The Dollar has extended its pullback after a surprise downtick from a private survey of US economic optimism, which carried more weight with the market than usual on Tuesday as there were no top-tier US economic numbers to digest...[MORE]

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This could be a banner year for silver, with prices potentially hitting a decade-high.

Global silver demand is forecast to reach 1.2 billion ounces in 2024, which would mark the second-highest level on record, the Silver Institute said in a recent report...[LINK]

Gold prices were stuck in a relatively tight range on Wednesday as traders turned their attention to remarks from U.S. Federal Reserve officials through the week that may provide more clues on the interest-rate path this year.

Spot gold was last down 0.08% to $2,033.79 per ounce. U.S. gold futures fell 0.09% to $2,049.30 per ounce...[LINK]