More Nations Invited to Contra-Dollar Alliance; Fed News Turbulence Looms

<p>Precious metals bulls this week reversed the recent downturn in gold and silver prices, and silver rallied almost $1 yesterday.</p>
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<p>The relative strength in silver offers an encouraging sign that seasonal lows for the precious metals space have already been reached.</p>
<p>Meanwhile, the next few days could yield financial news that moves the markets.</p>
<p>Federal Reserve Chairman Jerome Powell is slated to speak at Jackson Hole on Friday.</p>
<p>Investors will be looking for clues about whether the Fed is ready to throw in the towel on the inflation fight and stop hiking interest rates.</p>
<p>The BRICS summit in Johannesburg is underway with invitations extended yesterday to Argentina, Egypt, Iran, Ethiopia, Saudi Arabia, and the United Arab Emirates to become new members of the contra-dollar trade alliance that already includes Brazil, Russia, India, China, and South Africa.</p>
<p>In the retail U.S. market for physical gold and silver, premiums on <a href=”https://www.moneymetals.com/buy/silver/coins&quot;>coins</a>, <a href=”https://www.moneymetals.com/buy/silver/bars&quot;>bars</a>, and <a href=”https://www.moneymetals.com/buy/silver/rounds&quot;>rounds</a> have declined to new lows, creating a value opportunity for investors.</p>

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