Oil Jumps and Gold and Silver Slide to Seven-Week Lows

Gold and silver prices have fallen to seven-week lows as higher oil prices stoke inflation fears and lift U.S. Treasury yields and the U.S. dollar. Fiona Cincotta, StoneX Senior Market Analyst, explains how oil, yields and Federal Reserve rate expectations are weighing on precious metals. Rising Treasury yields increase the opportunity cost of holding non-yielding gold, while a firmer U.S. dollar makes the metal more expensive for holders of other currencies. With markets pricing roughly a 70% chance of another Federal Reserve rate hike in October, core PCE inflation data and the nonfarm payrolls report are key tests for gold and silver. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_fiona_cincotta&utm_content=share 00:00 - Oil Jump Sinks Gold and Silver 00:51 - Treasury Yields Squeeze Gold 01:15 - Fed Hawks Firm Up October Hike 01:41 - Gold's Next Test, PCE and Jobs 02:36 - Gold Loses Its Moving Averages 03:21 - Silver's Bearish Channel Holds Like and subscribe for more financial market insights. #Gold #StoneX #FionaCincotta #Silver --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social