Precious Metals Pushing Higher

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Precious Metals Pushing HigherGold FuturesCOMEX:GC1!CME_GroupMarkets were mixed across the board today with the precious metals leading the charge higher on the session. Gold, Silver, and Copper all traded higher again today with Copper being up near 1.5% and Gold and seeing slight gains. Copper and Silver are similar in the fact that they are more industrial metals and are affected by global manufacturing demand and overall costs more than Gold is. On July 8th, Copper saw a 13% move to the upside to a new all time high price, and Silver also made a new all time high today which brings a lot more attention to these markets. Along with that, there is still significant tariff uncertainty that has been driving Copper and Silver higher relative to Gold. The Gold market is still moving higher overall but has stalled out slightly since the new all time high from April. Outside of the metals, there are critical earnings reports coming out tomorrow looking at Google and Tesla that may add significant volatility to the equity indices for the rest of the week. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme/ *CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc. **All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.