There has been scattered talk in the marketplace that certain sectors of financial markets have become strained and much less liquid due to central banks aggressively tightening their monetary policies. Stock and financial market bulls are hoping that's the "Fed pivot" they have been awaiting. The stock market gains come following a Wall Street Journal report Friday that suggested the Federal Reserve will slow down the pace of its monetary policy tightening after its November meeting, at which the Fed is expected to raise the Fed funds rate another 0.75%. stock indexes have put in market bottoms, and that's also weighing on the safe-haven metals.
There are now some early chart clues the U.S. stock indexes are higher at midday and extended Friday's solid gains. December gold was last down $2.00 at $1,654.30 and December silver was up $0.134 at $19.20. Lower crude oil prices to start the trading week are also bearish for the metals.
Rising government bond yields are also negative for the precious metals. dollar index despite today's mild losses in the index. The precious metals market bulls remain constrained by a still-strong U.S. ( Kitco News) - Gold prices are slightly lower in midday U.S. Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions.
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