Gold & Silver Gain as Stocks & Bonds Drop, JGBs Make ‘Bazooka’ Move, Euro Banks ‘Brutal’

by Adrian Ash
Financial Sense

Gold and silver prices rose as Asian and European stock markets fell on Tuesday, with gold touching 3-week highs at $1360 per ounce as major government bond prices also fell, driving borrowing yields higher from their recent new record lows.

The Reserve Bank of Australia today cut it main interest rate to a new all-time low of 1.50%.

Futures markets in the US closed Monday putting the odds of a Federal Reserve rate rise to 0.75% at the September meeting at 18%, up from 12% on Friday.

Silver prices also rose, touching 1-month highs at $20.70 per ounce.

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