Silver to $39.50: Up 9.4% Past 30 Days
On Friday, spot gold eased to $3,357.25 an ounce (–0.3%) after U.S. jobless claims fell for the sixth consecutive week—the longest run of declines since 2022—reinforcing views that the Federal Reserve will keep rates unchanged at next week’s meeting.
Treasury yields climbed, and swap markets trimmed their rate-cut forecasts to fewer than two this year, with October now seen as the most likely starting point.
President Trump’s easing criticism of Fed Chair Powell boosted the dollar, making gold more expensive abroad. Despite this pullback, gold remains up about 25% year-to-date, buoyed by trade-war and geopolitical uncertainty.
