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NEW YORK SPOT METAL PRICES

May 1, 2024

After trending downward over the past two weeks, gold and silver both rebounded after today’s FOMC decision where the Fed rate was expectedly kept at its current level. Gold and silver are both up over 2% from yesterday’s low, with most of their gains coming during Fed Chair Powell’s press conference. Powell’s overall tone was reassuring that current Fed policy will get us to the 2% target for inflation; however, he was non-committal on the number of rate-cuts we can expect in 2024.