Spot pricing for Gold $AU3723

Spot pricing for Silver $AU44.34

Spot pricing for Platinum $AU1430

FED Chair Jerome Powell has announced that ‘the time has come’ for lower interest rates.

Mid September, the Western world will wait with bated breath over whether we’ll see continued mortgage pain, or a little reprieve prior to Christmas. We’re also curious if this well awaited cut will be a small nibble, or a bit more chunky. A 0.5% cut will definitely send some economists into a spiral, suggesting something is wrong with the economy. A 0.25% cut will send the right signal to the public without causing panic.

Consumer confidence hit high’s this last month, suggesting the public are surviving higher rates and GDP looks all ok at a stable 2.8% for Q2.

Gold and silver are again sitting quietly in the sidelines. With much news ready to burst through around elections, rate cuts and instability overseas, we won’t be surprised if many investors take a ‘risk off’ approach to investing into the next period and choose bullion.

Enjoy today’s charts.

Gold daily chart, with 200MDA