CosmicTaco

Gold and Silver Plunge Amid Dollar Rebound

CosmicTaco · 2024-09-02T16:16:58.965326+05:30

- **Gold and silver** prices dropped last week due to a rebound in the **dollar index** and U.S. bond yields. - The **Fed's core PCE deflator** data showed a 0.2% MoM increase, keeping inflation on track for the Fed's 2% target by early next year. - The **Dollar Index** is expected to consolidate this week, with the U.S. Payrolls report being a key trigger. - **Traders** may see further weakness in gold and silver prices, presenting a buying opportunity for **investors**. - A **25 bps rate cut** by the Fed in September could lead to a neutral to bearish outlook for gold prices in the near term.

Gold and silver prices dropped last week due to a rebound in the dollar index and U.S. bond yields.
The Fed's core PCE deflator data showed a 0.2% MoM increase, keeping inflation on track for the Fed's 2% target by early next year.
The Dollar Index is expected to consolidate this week, with the U.S. Payrolls report being a key trigger.
Traders may see further weakness in gold and silver prices, presenting a buying opportunity for investors.
A 25 bps rate cut by the Fed in September could lead to a neutral to bearish outlook for gold prices in the near term.