Silver (SILVER) is gaining nearly 2% today to $39.70/oz, supported by strong gold price advances and weakness in the U.S. dollar index. The dollar failed to find support even after today’s relatively solid PCE data, which did not appear “recessionary” and showed no clear signs of a sharp slowdown in consumption.
On the other hand, the later University of Michigan survey indicated weaker U.S. consumer sentiment and a decline in inflation expectations compared to the previous reading. Markets interpreted this as another signal increasing the odds of more than one Fed rate cut this fall. The major resistance zone is now set at $40 per ounce.
Source: xStation5
Cocoa gains 1% and tests the $6,000 area 🔼 How are funds positioned?
Canadian CPI slightly higher than expected 🔼 USDCAD reacts
Market Wrap: EU chip stocks surge on Anthropic's earnings! AstraZeneca halts trials for lung cancer therapy (17.08.2026)
Gold gains and returns to $4,400 🗽 Are precious metals betting on a dovish Fed?