PHLX Gold Silver Settlement shares fell 2.9% in pre-market trading on Wednesday, underperforming modestly higher U.S. equity futures.
The S&P 500 and Nasdaq futures were each up 0.4% ahead of the release of the Federal Reserve’s July 28–29 meeting minutes. During that session, policymakers voted 9–3 to maintain the federal funds rate at 3.50%–3.75%, with three officials dissenting in favor of a hike.
The 30-year Treasury yield reached a 19-year high, while crude oil prices remained near multi-week peaks. Analysts cited geopolitical risks in the Strait of Hormuz and elevated U.S.-Iran tensions as factors supporting oil prices and stoking global inflation concerns.
The Jackson Hole economic symposium, a thin late-summer trading volume period, also contributed to subdued market activity. The Fed minutes are expected to provide further insight into the central bank’s policy trajectory amid persistent inflation pressures.
