Precious Metals Rose Slightly Yesterday

5:42 AM


August 30, 2016 -- U.S. stocks and precious metals finished higher yesterday. 10-year Treasury bonds also rose, forcing yields lower.

The U.S .dollar index ended with a minor gain -- and crude oil prices were largely unchanged during U.S. trading - hovering right around $47 per barrel.

Investors mostly shrugged off weekend rhetoric from Fed officials who hinted they may implement another rate hike soon. Perhaps they have begun discounting what the central bankers SAY and will instead wait to see what officials actually DO. Jawboning with regard to rate policy has been all over the map -- even bordering on schizophrenic, but the past few years have only yielded a single quarter-percent hike.

Personal incomes grew a bit faster than personal spending in a report released yesterday. Mainstream economists often view increased savings as a negative given nearly 70% of the U.S. economy is based on consumer spending. It may also signal that Americans are becoming more cautious about the prospects for growth.

Live prices at MoneyMetals.com show gold currently trading at $1,321.30 per ounce on the global market, and silver is coming in at $18.81.

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