Precious Metals Rise on Softening Inflation Data While Cryptocurrencies Pull Back and Mortgage Rates See Movement

Soft inflation data followed throughout the week reflected positively on the precious metals market. Driven by signs of cooling inflation, gold prices managed to hold above the 4.400 dollar level, while silver prices continued their rise to cross above 65 dollars. The softening inflation picture sets the stage for precious metals to maintain their current high levels and find room for upside movement.

Despite this strong stance on the commodities side, selling pressure is felt in the digital asset market. Prices of Bitcoin and Ethereum, the leading assets of the cryptocurrency market, continued to decline, maintaining their downward movement. Investors pulling back from risk assets causes pressure on crypto prices to persist.

Meanwhile, active hours are being experienced in the US interest rate and housing market. As market participants' expectations regarding the Fed led by Kevin Warsh take shape, fluctuations were seen in mortgage and refinancing rates. On Friday, fixed-rate loan rates rose while adjustable-rate loans declined; however, heading into the weekend, a decline was recorded in overall interest rates.

On the other hand, a significant development occurred in the legal proceedings occupying the US agenda. Luigi Mangione, accused in connection with the murder of a UnitedHealthcare executive, pleaded guilty in federal court to the stalking charges against him, ahead of the murder trial to be held in New York next month.

This content is for general information purposes and is not investment advice.