In this presentation, Jeffrey Christian of CPM Group reviews the sharp rise in gold, silver, platinum, and palladium prices. He looks at the mix of macroeconomic uncertainty, investor behavior, and central bank policy that has driven prices higher in recent weeks.

Jeff also discusses the Federal Reserve’s latest interest rate decision and the Fed’s nuanced analysis of current economic conditions that might seem to be self-contradicting signals to some market participants about economic strength, inflation, and future policy direction. With limited U.S. economic data available due to recent reporting disruptions, markets are reacting more to uncertainty and risk perceptions than to fundamentals.

Jeff explains why sharp pullbacks remain possible even within a longer-term bullish trend, and what price volatility may look like into year-end and early 2026.

Courtesy of the CPM Group