Mild price gains for gold, silver ahead of Powell speech gold silver Powellspeech
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The focal point of the marketplace today is a midday speech to an economics club in Washington, D.C. by Fed Chairman Jay Powell. Traders and investors are anxious to see what Powell has to say after last week’s surprisingly strong U.S. jobs report that many believe could force the Fed to remain hawkish on U.S. monetary policy for longer. A Barron’s headline today reads: “Markets may have misread Powell last week.
The key outside markets see the U.S. dollar index a bit higher on a continued rebound from last week’s nine-month low. The yield on the benchmark U.S. 10-year Treasury note is presently fetching 3.642%. Meantime, Nymex crude oil futures prices are up and trading around $75.25 a barrel.
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