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NEW YORK SPOT METAL PRICES

December 8, 2023

After rising to a record high Sunday evening, gold shed 3.5% this week to post its first weekly loss in a month. Silver performed even worse, falling nearly 10% in the same period. Much of these losses came on Friday after a strong employment report gives the Fed reason to possibly hold interest rates higher for longer or even raise rates an additional time if the labor market remains hot in the coming months. Stocks rose about 0.50% Friday, shaking off fears of tighter Fed policy and are on pace to eke out a positive week after today’s gains.