October 7, 2019 – As precious metals markets enter this week’s trading, investors will weigh a mixed bag of recent economic data and mixed signals for the Federal Reserve’s next move.

Last week’s reports on the manufacturing sector showed a worrisome contraction in output, leading to heavy selling in the stock market and in industrial commodities. Expectations for additional Fed rate cuts this year climbed sharply.

But by Friday, sentiment swung the other way after jobs numbers came out showing the unemployment falling to a 50-year low of 3.5%. (The catch is that jobs growth is coming from low-wage positions.)

The platinum group metals suffered amidst economic growth concerns and a lack of any resolution in sight to the United Auto Workers union strike at General Motors, now set to enter its fourth week.

Meanwhile, gold and silver proved to be valuable safe havens. Each managed to eke out gains for the week.

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