Two critical data points came from the US:

🔹 Annual Core PCE: %3 (Expectation: %2.9 | Previous: %2.8)
🔹 GDP: %1.4 (Expectation: %2.8 | Previous: %4.4)
The market outlook is clear:
Inflation is higher than expected.
Growth has slowed significantly.
What does this mean?
The economy is cooling down, but price pressures are not decreasing.
In other words, a “slowing growth + stubborn inflation” scenario.
This scenario is challenging for the Fed.
• Rate cut expectations may be postponed.
• Bond yields could rise.
• The dollar may strengthen.
• In risky assets, (cryptocurrencies, stock markets) may see short-term sell-offs.
And gold and silver?
The initial reaction is usually on the interest side.
If bond yields and the dollar rise after the data:
We might see short-term pressure on gold and silver.
But a sharp slowdown in growth also indicates:
The economy is becoming more fragile.
There are two scenarios at this point:
1️⃣ The Fed focuses on inflation → interest rates stay high → precious metals may be suppressed.
2️⃣ Recession risk dominates → demand for safe havens increases → gold strengthens.
Silver is a bit more complex:
Since it is both a precious metal and an industrial metal, it may fluctuate more than gold during a slowdown.