Gold and silver have started the week with firmer conviction, extending Friday’s rebound and signalling that investors remain willing to add exposure to precious metals despite another rise in bond yields. The macro backdrop is unusually mixed: signs of weakening US economic momentum are emerging at the same time that political negotiations appear to be nudging Washington toward ending the government shutdown.
Fiscal trajectory re-enters focus
A potential end to the shutdown matters for several reasons. At the surface level, it would allow key data releases to resume and give the Federal Open Market Committee a clearer picture of underlying activity ahead of its December meeting. The market continues to assign a meaningful probability…