Breaking: Silver Tops $38 for First Time Since 2011 
Gold traded modestly higher at $3,351 per ounce as investors weighed conflicting signals about the US economy and Federal Reserve policy direction. Resilient economic data – including the lowest jobless claims since mid-April and advancing June retail sales – eased recession concerns but reduced market expectations for rate cuts, with swaps pricing less than 60% odds of a September reduction. San Francisco Fed President Mary Daly still suggested two cuts this year are reasonable, while President Trump continues pressuring for easier monetary policy. Gold remains disadvantaged in high-rate environments since it pays no interest, but has still surged over 25% this year on geopolitical tensions and dollar concerns. The precious metal has traded in a tight range recently as investors await clarity on trade talks, Fed policy, and tariff impacts. Silver, platinum, and palladium all joined gold’s advance, with platinum near decade highs.
