Precious metals markets continue to probe for support levels as the summer doldrums set in. Gold futures tested the $1,900 level on Thursday before getting a bit of a bounce. As of this Friday recording, the monetary metal checks in at $1,928 per ounce, up slightly for the week. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

Welcome to this week's Market Wrap Podcast, I'm Mike Gleason.  Hawkish posturing from Jerome Powell is putting downward pressure on precious metals markets.  The Federal Reserve chairman testified before Congress this week on the subject of U.S. monetary policy. Powell said persistently high inflation remains a top concern. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

As the Federal Reserve begins to back off on tightening, the U.S. dollar is becoming increasingly vulnerable to selling. The Fed left its benchmark interest rate unchanged at just above 5% at this week's policy meeting. It was the first time in over a year that central bankers decided not to hike. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

Precious metals markets are getting a bit of a lift this week as investors anticipate a pause in the Federal Reserve’s rate-hiking campaign. |  Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

Well, after months of political melodrama, Congress finally did what it was always does in the end - and that is to authorize more deficit spending. On Thursday night, the U.S. Senate approved the deal hashed out by Joe Biden and Kevin McCarthy to raise the debt ceiling through 2024. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

As the debt ceiling fight in Washington heads down to the wire with the risk of a technical default looming, investors are growing nervous. Some are fleeing to physical precious metals as a safe haven from risky financial assets. But on the futures exchanges that determine spot prices, a wave of selling took place this week. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

After knocking on the door of new record highs over the past few weeks, the gold market is pulling back. Bulls had faced a lot of overhead resistance in futures trading. It finally proved to be too much to overcome -- at least for the near term. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

Well, it looks like gold bulls will have to wait at least another week for any sort of upside breakout to occur. Gold continues to contend with resistance selling whenever it approaches its former all-time high near $2,080. That was the case again this week. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

As more cracks in the foundation of the banking system appear, gold prices have once again been knocking on the door of new records, although we’re seeing a pullback here on Friday. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

Well, investors seem to be brushing aside headline risks in the banking system, the government’s finances, and the economy. The stock market surged on Thursday despite entering the week on shaky footing amid fears of another major bank failure. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan