On Thursday morning the latest #producerpriceindex results were released, and they showed a 0.5% drop over the past month and a lower-than-expected 2.7% increase over the past year. Which was another data point toward suggesting that the Fed’s next meeting in May will be the last interest rate hike of the current cycle.
As a result, both gold and silver are trading higher, with gold near the $2060 per ounce level, while silver briefly traded over $26 per ounce. Both levels are new highs for 2023, amidst a surge of demand on the retail level, and an increasing awareness of precious metals now growing even in the mainstream media.
On Thursday the latest Fed minute meetings were also released, which showed that even the Fed has now become concerned about the issues in the banking system, and are beginning to expect a recession later this year. Which adds to the speculation that rate cuts may be on the way before 2023 is done, and has just further fueled the rally in the precious metals.
So to find out more about these latest developments, click to watch the video now!