Gold steadies near $4,220 while silver breaks to all-time highs

Gold maintaining its year-to-date gain of approximately 60% at 4200 USD on track for its best annual performance since 1979.

Silver stole the spotlight printing a new high yesterday 58.95 USD nearing 60 USD.

The fundamental backdrop strongly supports precious metals. 

Wednesday's ADP employment report shocked markets with a 32,000-job loss—the largest since March 2023

These data points pushed the probability of a 25-basis-point Fed cut at the December 9-10 FOMC meeting to approximately 89% on the CME FedWatch tool.

Having said that US Fed 25 basis cut is fully priced in for next week.

Unless expectations increase for a 50 bps cut , Fed meeting is unlikely to have a big impact