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NEW YORK SPOT METAL PRICES

January 29th, 2024

Stocks rose Monday leading to the S&P 500 closing at a new record high as a decline in US Treasury Q1 borrowing forecasts drove equities up and bond yields down. Gold rallied today as well and is currently trading about 1% above last week’s settlement price as falling bond yields helped boost the metal. The FOMC’s first meeting of 2024 is this week where rates are overwhelmingly expected to remain unchanged. However, any guidance for what to expect in March will likely rattle markets.