Silver and Gold Market Update - July 4, 2024

Silver Spot Price Today. Silver News Today. Gold Spot Price Today. Gold News Today.
The precious metals markets did very little in overnight trading. The real story was the strong gains in both Silver and Gold yesterday in the US markets, as more data signaled a contraction in the US economy.
Gold prices rose more than 1% to a near two-week high on Wednesday Silver prices also rose 1.75 percent. Both metals were driven by increased bets for a September interest rate cut by the Federal Reserve after recent U.S. data suggested that the labor market was softening.
On Wednesday, the Institute for Supply Management (ISM) said its Services Purchasing Managers Index dropped to 48.8% in June, compared to May’s reading of 53.8%. The data was significantly weaker than expected, as consensus forecasts looked for a much smaller drop to 52.6. This data showed the U.S. service sector contracting sharply during the period.
The U.S. service sector is seeing its weakest activity since the economy was shuttered during the COVID-19 pandemic.
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Disclaimer: Minute Man 6's video's typically consist of conversations surrounding education regarding and the acquisition of, but not limited to the following: silver, silver spot price, gold, gold spot price, platinum, silver coins, generic silver rounds, collectible silver rounds, fractional gold coins, pre-33 gold coins, ancient coins, American Silver Eagles, Perth Mint Coins, Mexican Silver Libertads, Fractional Libertads, Proof Libertads, Mexican silver Onzas, junk aka constitutional silver, silver bars, vintage silver rounds, platinum, vintage silver bars, Morgan Dollars, Peace Dollars, paper currency, numismatics and coin collecting in general, history, silver spot price, gold spot price, coin shops, coin dealers, coin shop videos, how to sell silver, how to sell gold, and more. Please understand that although the conversation frequently touches on the state of the economy and how it affects the accumulation of precious metals (stacking), Minute Man 6 is no way a financial advisor. You the viewer is ultimately responsible for making your own decisions.

[@Eeee-uv5id]

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[@DorisMeyo]

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[@MarkPeters-dz2yi]

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[@johnnyb3126]

Like seven 🎉🎉🎉

[@MinuteManPreciousMetals]

Thank you!

[@MinuteManPreciousMetals]

All data points this week have been positive for Gold and Silver. Is anyone else surprised that prices have not increased more?