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NEW YORK SPOT METAL PRICES

July 24, 2023

Stocks rose Monday across the board ahead of a big week for earnings and an important Fed decision due out on Wednesday. The S&P and Nasdaq gained 0.4% and 0.2%, respectively, and the Dow rose 184 points for its 11th consecutive winning session. The Fed is expected to raise rates 0.25%, but even more important than the decision will be Fed Chair Powell’s tone during his press conference. Metals drifted lower to begin the week but any dovish comments from the FOMC on Wednesday could help gold and silver based on previous meetings this year.