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Gold and silver prices fell over the prior two weeks, with gold down 5.5% and silver down 18% since September 1. Lower inflation and stimulus expectations, along with weaker inflation expectations, drove the decline despite rising coronavirus cases in the US and Europe.
Precious metals are trading as risk-off assets tied to inflation expectations rather than safe-haven demand. This signals weaker commodity sentiment broadly, though it has limited direct effect on feed grain prices.
axios.comDion RabouinSep 24, 2020After 45 past macro events, DAP moved a median -0.1% over 5 sessions (31% higher; middle half -1.1% to +1.1%), and -0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
