Precious Metals Rallied for Two Very Different Reasons

A precious metals rally lifted all four majors last week, as platinum and palladium rose on Strait of Hormuz progress and gold on weak U.S. jobs report. Rhona O'Connell, StoneX Head of Market Analysis for EMEA and Asia, explains why all four precious metals broke higher for two very different reasons. Platinum and palladium led the industrial-metals complex midweek as talks between Iran and Oman over the Strait of Hormuz showed progress, while gold and silver moved later on a headline-weak U.S. nonfarm payrolls report. With CPI due Wednesday and PPI due Thursday, the gap between producer and consumer prices raises the risk that inflation stays higher for longer and keeps the Federal Reserve in a quandary on rates. 0:00 Four Metals Break a Long Range 0:44 Hormuz Progress Lifts the PGMs 1:17 The Bid Beneath Every Dip 1:44 Weak Jobs Wake Gold and Silver 2:20 PPI Tops CPI and Boxes the Fed Discover Actionable Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_rhona_o_connell&utm_content=share Like and subscribe for more financial market insights. Watch more: https://www.youtube.com/playlist?list=PLseYUvaoguNgZ1uZ8iOzlxmmoe4AxgMut #Platinum #Palladium #PreciousMetals #StoneX #RhonaOConnell