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NEW YORK SPOT METAL PRICES

July 19, 2023

Stocks traded modestly higher today as strong bank earnings and weakening inflation make the likelihood of a recession this year continue to fade. Gold and silver are still hovering near recent highs, trading at $1,978 and $25.15, respectively. A rate hike is still expected next week, but a more dovish tone for future guidance is likely if they do raise rates. Metals could continue upward if there is any indication that next week’s increase may be the last from the Fed this year.