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NEW YORK SPOT METAL PRICES

November 17, 2023

Gold and silver rose 2.3% and 6.5% respectively this week as cooling inflation data pushed bond yields lower and metals higher. Stocks closed Friday marginally in the green but gained about 2% for the week as strong earnings and the increasing likelihood of no additional Fed rate hikes led the rally. Fed minutes due out next week could give better insight into current Fed sentiment, however, given this week’s CPI and PPI, their thinking may be more dovish than the minutes reveal.