Investors Move Away from Gold and Silver as Brexit Fears Subside

5:43 AM


July 13, 2016 --Investors continue to pile back into the stock markets, including some who fled to the safety of bonds and precious metals. The S&P 500 made another all time high on Tuesday. The price of crude oil jumped more than 4%, leading a broad rally in commodities.

U.S. Treasury yields rose following a second day of selling in bond markets and gold prices finished lower. The fear that drove markets in the aftermath of the Brexit vote is on the wane, at least for now.

Much of the week's major economic data won't be published until Thursday and Friday. But there is a lot coming for investors to weigh. Tomorrow they get a look at producer prices. Then on Friday they get reports on CPI, industrial production, and retail sales.

With stock indices at record highs, it looks like investors expect some more good news on top of last week's positive jobs report. We'll see if the data can match these expectations.

Live prices at MoneyMetals.com show gold currently trading at $1,343.70 per ounce on the global market, and silver is coming in at $20.45.

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