[MARKET UPDATE] Silver and gold prices advance higher in the US morning while Dollar continues to weaken
The advance in silver and gold prices, coupled with a weakening dollar, suggests a risk-off sentiment reacting to the news of a criminal investigation into Fed Chair Powell.
NATO's Rutte says he believes US President Trump is doing the right thing for NATO
President Trump will interview BlackRock's (BLK) Rick Rieder this week to possibly be next Fed Chair, FOX Business reports citing sources; sources say it will take place on Thursday
[MARKET UPDATE] Silver and gold prices advance higher in the US morning while Dollar continues to weaken
Secretary General of NATO, Rutte says NATO's commitment to Ukraine still holds firm
Abercrombie & Fitch (ANF) FY EPS view 10.30-10.40 (exp. 10.17, prev. 10-20-10.50), Operating margin view around 13% (prev. 13-13.5%), Net sales growth of at least 6% (prev. 6-7%)
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- Upside in metals and downside in the Dollar has been seen following the news from the weekend that Federal prosecutors have opened up a criminal investigation into Fed Chair Powell over the central bank’s renovation of its Washington headquarters and whether Powell lied to Congress about the scope of the project.
This development raises concerns about central bank credibility and could lead to a flight to safety into precious metals. Traders should watch for continued volatility in the dollar and assess how this might influence broader market sentiment and Fed policy expectations.
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