Gold-silver rally turns on Fed hike odds as weak jobs data trims upside math
U.S. metals futures had not begun the regular Sunday evening session at the article time after CME Group listed an Independence Day schedule running across July 2-6. CME lists NYMEX and COMEX ClearPort hours as Sunday 5 p.m. to Friday 4 p.m. CT, with a daily reporting break. Gold and silver held their post-payroll gains into the holiday weekend, but the cleaner investor signal was not the size of the bounce. It was where the bounce left prices against fresh bank targets. At late-Friday levels, gold was only about 3% below JPMorgan’s third-quarter forecast and less than 8% below its fourth-quarter forecast, while silver was already inside JPMorgan’s $60-$65 average range.