Precious Metals Market Takes a Breather as NASDAQ Declines Amid Uncertainty

Blog Categories , Insights

Welcome to Jaggards Friday Market Insight

10 Feb, 2023
As at 10am, AEST.

Gold Spot Price $AU$2,686
Silver Spot Price $AU31.76
Platinum Spot Price $AU1,396.74

Market Sentiment
Gold Price as a search trend is easing off into mid-February. Note the peak in Gold Price interest right at the FED meeting date.

Twitter sentiment
#Goldprice was tweeted 1580 times - still easing slightly from our last weekly reporting period (Wednesday).

Market News Highlights
This week, the precious metals market saw a slight pause in the recovery process. The NASDAQ experienced a 1.84% decrease due to market uncertainty, and the recent announcement of a highly favourable unemployment rate of 3.4% in the United States has caused confusion among market analysts. As a result, the equity markets have seen two consecutive days of decline due to concerns that the Federal Reserve will continue to raise interest rates as a way to measure and mitigate inflation.

As the markets continue to be affected by inflationary pressures and the possibility of future interest rate increases, there is an increasing risk of a potentially severe recession in the near future.

*Not financial advice, please do your own research prior to any investment decisions you make.

Charts
Charts are shown in USD and show 30 days of activity.
Gold charts showed signs of recovery after its recent plunge, and is now ranging and recovering around $US1865