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NEW YORK SPOT METAL PRICES

February 29th, 2024

Metals prices jumped Thursday as treasury yields pulled back on the latest inflation data. The core personal consumption expenditure price index rose 0.4% in January and 2.8% year-over-year, which was in line with expectations.

This was a welcomed change for investors after CPI showed a sudden jump in prices last month, leading to a decline in equity and metals markets. While a March rate cut is still extremely unlikely, this latest data helped boost the likelihood of Fed cuts starting in June.

FideliTrade Market Update: February 29, 2024.
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