Silver and Gold Market Update - July 6, 2024

Silver Spot Price Today. Silver News Today. Gold Spot Price Today. Gold News Today.
It is July 6th, 2024 at approximately 7:00 AM EST, and this is our Morning Market update. Before we get started, please hit that like button. If you are not a subscriber, I would love to have you. I post new market video updates Monday through Friday, so just ring that bell icon to be notified of new videos.
Today I am posting a bonus Market update due to the major moves up in both Gold and Silver.
Gold moved up $33.91 or 1.44% to $2393.07 to close out the week. Silver is also up 85 cents or 2.79% to $31.29.
The gold market definitely ended the shortened holiday trading week with some fireworks with prices testing resistance around $2,400 an ounce.
Disappointing economic data, including slowing momentum in the U.S. labor market, is raising market expectations that the Federal Reserve will lower interest rates in September. According to the CME FedWatch Tool, markets see a nearly 80% chance of a rate cut after the summer break.
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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.

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The positive data is really stacking up for Gold in Silver and a September rate cut. It seems like I can't stack enough metals fast enough. What are your thoughts?