Prices of gold and silver drop today 0.7% and 3.3% respectively amid strengthening US dollar. USDIDX gains today almost 0.08%, and US 10-year treasury yields extend gains by more than 1 bps to 4.035%, hitting levels unseen since the end of July. Markets fully price now only one Fed rates cut this year, by 25 bps.
Fed member Kugler commented today that if inflation data (US CPI September report is scheduled on Thursday 13:30 PM BST) will not show improvement, 'slowing normalization will be appropriate'. Previously, citing by Financial Times, Fed Williams told that 'September rate cut is not a future guideline'. J.P Morgan CEO, Jamie Dimon commented today that soft landings are difficult, but he hopes that it will happen this time, however there is not guaranteed.
Source: xStation5
USDIDX vs SILVER
Source: xStation5
Daily summary: Silver plunges 9% ๐จIndices, crypto and precious metals under pressure
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