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NEW YORK SPOT METAL PRICES

March 8th, 2024

Gold and silver continued their rally Friday and are currently up about 4.5% each, on pace for their best week in 5 months. February’s mediocre jobs data helped boost metals as unemployment unexpectedly ticked up to 3.9% and previous months’ gains were revised downward sharply. The Fed is still unlikely to cut rates at either of its next two meetings, but a slowing employment market helps the argument for rate cuts amid a slowdown in the decline of inflation. Stocks are down sharply Friday, trading nearly flat for the week.