Gold & Silver Weekly Watchouts: CPI, PPI, Retail Sales, Treasury Auctions & Iran | August 10–16, 2026

Every Sunday, I publish the International Stacker Gold & Silver Weekly Watchouts to help the Crustacean Nation prepare for the biggest events that could affect gold, silver, mining stocks, Treasury yields, the US dollar, and the broader financial markets.

Last week was about JOBS... This week is about INFLATION!

After Friday's shockingly weak July Jobs Report showed US payrolls falling by 23,000, gold and silver surged as markets reassessed the economy and the future path of Federal Reserve policy.

Now comes the next major test.

🔥CPI

🔥PPI

🔥Retail Sales

🔥Treasury Auctions

🔥Jobless Claims

🔥Consumer Sentiment

And behind ALL of it remains the biggest unscheduled wildcard:

🌎 Iran, oil, the Strait of Hormuz & the Bab Al Mandab.

This could be another extremely volatile week for gold and silver as markets try to answer one enormous question: Is inflation cooling enough for the Fed to respond to a weakening labor market… or are we moving toward a stagflationary environment where inflation stays hot while the economy slows?

Please remember I'm not a financial advisor & this is not financial advice!

🔥 Quick Summary – My Biggest Watchouts This Week

🏠 Existing Home Sales — Tuesday at 10 AM ET

🏦 3-Year Treasury Note Auction — Tuesday at 1 PM ET

🔥 July CPI + Core CPI — Wednesday at 8:30 AM ET

🛢️ EIA Weekly Petroleum Report — Wednesday at 10:30 AM ET

🏦 10-Year Treasury Note Auction — Wednesday at 1 PM ET

💰 US Monthly Treasury Statement — Wednesday

🔥 July PPI + Core PPI — Thursday at 8:30 AM ET

📉 Initial Jobless Claims — Thursday at 8:30 AM ET

🏦 30-Year Treasury Bond Auction — Thursday at 1 PM ET

🔥 July Retail Sales — Friday at 8:30 AM ET

😊 University of Michigan Consumer Sentiment & Inflation Expectations — Friday

📊 CFTC Gold & Silver Positioning — Friday at 3:30 PM ET

🎤 Federal Reserve Speakers — All week

💵 Treasury Yields, Real Yields & US Dollar — All week

🌎 Iran / Strait of Hormuz / Oil — All week

🥈 COMEX & Shanghai Silver Markets — All week

🥇 Gold & Silver Physical Demand — All week

🚨 My Biggest Concern This Week

My biggest concern this week can be summed up in one word: STAGFLATION. Stagflation is the painful combination of a slowing or stagnant economy AND persistently high inflation at the same time. It can put the Federal Reserve in a difficult position: cutting rates may fuel inflation, while keeping rates high may put even more pressure on jobs and economic growth.

Friday's Jobs Report delivered a major warning about the US labor market. Now imagine what happens if Wednesday's CPI or Thursday's PPI comes in HOT.

We could suddenly be looking at:

📉Weakening employment

🔥Persistent inflation

🛢️Elevated energy prices

📈Pressure on Treasury yields

💵A volatile US dollar

🏦A Federal Reserve caught between inflation and a weakening economy

That's a MUCH more complicated environment than simply having a recession or an inflation shock. Gold could benefit from concerns about monetary policy, fiscal credibility and stagflation while simultaneously facing short-term pressure if hot inflation sends real yields and the dollar higher. Silver could become even more volatile because it trades as both a monetary metal and an industrial commodity.

And then there's Iran. One major escalation involving Iran, oil infrastructure, commercial shipping or the Strait of Hormuz could completely change the inflation outlook within minutes. That's why this week isn't simply about whether CPI is hot or cold. It's about how inflation, employment, oil, Treasury yields and Fed expectations interact.

📅This Week’s Key Events

Monday, August 10

Monday gives us a relatively quiet start to the scheduled US economic calendar. And that may not be a bad thing. After Friday's huge reaction to the Jobs Report, Monday gives markets time to digest what happened and position ahead of Wednesday's CPI.

I'll be watching:

✔ Gold & silver follow-through

✔ Treasury yields

✔ US dollar

✔ Fed expectations

✔ Oil

✔ Iran headlines

✔ Shanghai versus COMEX silver pricing

My Take

A quiet economic calendar does NOT necessarily mean a quiet precious-metals market. Gold and silver are coming into the week following a major labor-market surprise, and traders may continue repositioning before CPI. If metals continue higher without another major catalyst, that could tell us something about the underlying strength of the move.

Tuesday, August 11

1. 🏠 Existing Home Sales — 10AM ET

   Tuesday brings another look at one of the most interest-rate-sensitive areas of the US economy: HOUSING. Existing Home Sales measures how many previously owned homes were sold during the month. Because home sales are highly sensitive to mortgage rates, the report can give us clues about consumer strength, affordability, and how higher interest rates are affecting the broader economy.

Existing-home sales are not normally a major gold or silver catalyst, but the report becomes more interesting following the weak Jobs Report.

I'll be watching:

✔ Sales pace

✔ Inventory

✔ Median prices

✔ Months of supply

✔ Signs that high borrowing costs are affecting buyers

Quick question: Do you or anyone you know have “golden handcuffs” — where you'd like to sell your home but don't want to give up your ultra-low mortgage rate?

Bullish for Gold & Silver

✅Sales disappoint

✅Housing activity weakens

✅Treasury yields fall

✅Markets increase expectations for easier monetary policy

Bearish for Gold & Silver

❌ Housing beats expectations

❌ Economy appears more resilient

❌ Treasury yields rise

❌ Markets reduce expectations for easier Fed policy

My Take

This is a secondary event for precious metals. But in the current environment, every new piece of evidence showing economic weakness matters. The more important event Tuesday may actually come three hours later.

2. 🏦 3-Year Treasury Note Auction — 1 PM ET

   Tuesday begins an important three-day test of demand for US government debt. The US Treasury is selling 3-year notes to investors, and the strength or weakness of demand at this auction will give us another signal about investor appetite for US government debt as a three-day run of auctions begins.

We get:

🏦3-Year Tuesday

🏦10-Year Wednesday

🏦30-Year Thursday

I'll be watching:

✔ Bid-to-cover

✔ Indirect bidder participation

✔ Dealer takedown

✔ Whether the auction tails or stops through

✔ Treasury yields immediately afterward

Bullish for Gold & Silver

✅ Strong demand

✅ Auction stops through

✅ Treasury yields fall

✅ US dollar weakens

Bearish for Gold & Silver

❌ Weak demand

❌ Auction tails

❌ Dealers absorb unusually large amounts

❌ Treasury yields rise

My Take

The 3-year auction isn't normally as important to gold as the 10-year or 30-year. But it starts a three-day test of Treasury demand that could become very important by Wednesday and Thursday.

🔥Wednesday, August 12 — THE BIG DAY

1. 🚨July CPI + Core CPI — 8:30 AM ET

   THIS IS MY NO. 1 SCHEDULED WATCHOUT OF THE WEEK from the Bureau of Labor Statistics. Last week gave us a major labor-market surprise, now CPI tells us whether inflation is cooperating. The Consumer Price Index (CPI) measures how prices paid by consumers for goods and services are changing over time — one of the market's most closely watched measures of inflation. Core CPI removes food and energy, which tend to be more volatile, to give us a clearer look at underlying inflation pressures.

   
   

🔥Why it matters: CPI can quickly change expectations for Federal Reserve interest-rate policy, sending Treasury yields, the US dollar, gold and silver moving FAST.

I'll be watching:

✔ Headline CPI MoM: Expected +0.1% | Previous -0.4%

✔ Headline CPI YoY: Expected +3.4% | Previous +3.5%

✔ Core CPI MoM: Expected +0.2% | Previous 0.0%

✔ Core CPI YoY: Expected +2.5% | Previous +2.6%

✔ Shelter: Previous +0.1% MoM — smallest monthly increase since January 2021.

✔ Services inflation: Watch for whether underlying services pressures continue cooling.

✔ Energy: Previous -5.7% MoM — a HUGE swing & the biggest contributor to June's headline CPI decline.

✔ Medical care: Previous -0.1% MoM

✔ Used vehicles: Watch for renewed vehicle-price pressure

✔ Motor Vehicle Insurance: Watch for continued insurance inflation

But most importantly: WATCH TREASURY YIELDS! The market's reaction to CPI can sometimes matter more for gold and silver than the headline number itself.

Bullish for Gold & Silver

✅ CPI below expectations

✅ Core CPI cools

✅ Services inflation eases

✅ Treasury yields fall

✅ Real yields fall

✅ US dollar weakens

✅ Markets move toward easier Fed policy

Bearish for Gold & Silver

❌ CPI beats expectations

❌ Core inflation accelerates

❌ Services remain sticky

❌ Treasury yields rise

❌ Real yields rise

❌ US dollar strengthens

❌ Markets push back expectations for easier Fed policy

🟡 STAGFLATION SCENARIO

This is the scenario I'm watching VERY closely: WEAK JOBS + HOT CPI. If employment is deteriorating while inflation remains elevated, the Federal Reserve's job becomes significantly more difficult. The Fed could face pressure to support the labor market while inflation simultaneously limits its ability to ease.

For gold, that could create competing forces:

🔥Monetary/fiscal uncertainty vs. 📈 Higher real yields

For silver, add another complication: 🏭 Industrial demand.

My Take

CPI could determine the direction of gold and silver for the entire week. But I won't just be watching the number at 8:30 AM. I'll be watching what happens to:

10-Year Yield → Real Yields → US Dollar → Gold → Silver.

And then, only a few hours later, the bond market gets another major test.

2. 🛢️EIA Weekly Petroleum Report — 10:30 AM ET

   Oil remains extremely important to the precious-metals story because energy prices can feed directly into inflation expectations.

I'll be watching:

✔ US crude inventories

✔ Gasoline inventories

✔ Distillates

✔ Refinery utilization

✔ Domestic production

✔ Any unusual changes connected to global supply disruptions

My Take

Normally this would be a secondary event. But with Iran and the Strait of Hormuz still capable of affecting energy markets, oil deserves extra attention. A large inventory draw combined with geopolitical escalation could push energy prices and inflation expectations higher.

3. 🏦 10-Year Treasury Note Auction — 1:00 PM ET

   This is one of my favorite sleeper watchouts this week... Think about the timing:

🔥 8:30 AM — CPI

🏦 1:00 PM — 10-Year Treasury Auction

CPI could send yields sharply higher or lower in the morning. Then the Treasury market has to absorb another round of US government debt only hours later.

Bullish for Gold & Silver

✅ Strong demand

✅ Auction stops through

✅ 10-year yield falls

✅ Real yields decline

Bearish for Gold & Silver

❌ Weak demand

❌ Auction tails

❌ Dealers absorb heavy supply

❌ 10-year yield jumps

❌ Real yields rise

My Take

Wednesday could be the most important day of the entire week for gold and silver. CPI sets the tone. The Treasury auction tests that tone. Watch what happens if both catalysts push yields in the same direction.

That could amplify the move in precious metals.

4. 💰US Monthly Treasury Statement

   I'll also be watching the latest federal budget numbers. Important areas include:

✔ Federal receipts

✔ Federal spending

✔ Monthly deficit/surplus

✔ Fiscal-year-to-date deficit

✔ Interest expense

My Take

The Monthly Treasury Statement usually isn't an immediate gold/silver market mover like CPI. But the longer-term fiscal picture remains enormously important to the gold thesis. Debt issuance, deficits and interest costs don't disappear because markets are focused on one inflation report.

Thursday, August 13

1. 🚨July PPI + Core PPI — 8:30 AM ET

   One day after CPI, we get another major inflation report: PPI. The Producer Price Index (PPI) measures changes in the prices businesses receive for goods and services, giving us a look at inflationary pressures earlier in the supply chain. Core PPI strips out more volatile components to give a clearer picture of underlying inflation trends.

I'll be watching:

✔ Headline PPI MoM: Expected: ~+0.1% | Previous: -0.3%

✔ Headline PPI YoY: Expected: ~5.0-5.2% | Previous: +5.5%

✔ Core PPI MoM: Expected: ~+0.2% to +0.3% | Previous: +0.2%

✔ Core PPI YoY: Expected: ~4.7% | Previous: +4.7%

✔ Goods inflation

✔ Services inflation

✔ Energy

✔ Trade services

Bullish for Gold & Silver

✅ PPI below expectations

✅ Pipeline inflation cools

✅ Treasury yields decline

✅ US dollar weakens

Bearish for Gold & Silver

❌ PPI exceeds expectations

❌ Producer inflation accelerates

❌ Treasury yields rise

❌ Dollar strengthens

My Take

If CPI AND PPI both cool after Friday's weak Jobs Report, the market could have a much stronger argument that the Fed has room to ease. But if both come in HOT? 🚨 The stagflation conversation could get MUCH louder.

2. 📉 Initial Jobless Claims — 8:30 AM ET

   Jobless claims suddenly matter more. Why? Because Friday's Jobs Report raised serious questions about the strength of the labor market. Now traders will be looking for confirmation.

   
   

   Initial Jobless Claims measures the number of people who filed for unemployment benefits for the first time during the previous week. It is a weekly leading indicator of labor market health — a rising number suggests weakening employment conditions, while a falling or stable number points to a still-resilient job market.

   
   

I'll be watching:

✔ Initial Jobless Claims: Expected: ~200K | Previous: 199K

✔ Continuing Claims: Previous: 1.801M

Bullish for Gold & Silver

✅ Claims rise materially

✅ Labor-market weakness broadens

✅ Fed easing expectations increase

✅ Treasury yields fall

Bearish for Gold & Silver

❌ Claims remain extremely low

❌ Labor market appears more resilient

❌ Treasury yields rise

My Take

Normally claims would take a back seat to PPI. This week I'm paying more attention. If claims begin deteriorating at the same time inflation remains hot, the stagflation setup gets even more interesting.

3. 🎤 Federal Reserve Speakers

   Although no speeches are scheduled, I'll also be listening closely for comments from Fed officials following CPI and PPI.

   
   

   The questions I'm listening for:

   ✔ Is inflation still the dominant concern?

   ✔ Has the weak Jobs Report changed their view?

   ✔ Are officials becoming more concerned about employment?

   ✔ How do they describe the balance of risks?

   ✔ Are they opening the door to easier policy?

My Take

Words matter... But the bond market's reaction to those words matters even more.

4. 🏦 30-Year Treasury Bond Auction — 1:00 PM ET

   This could be another sleeper event. Long-duration Treasury demand gives us a direct look at investors' willingness to hold US government debt for decades. In simple terms, the government is selling 30-year bonds to raise money, and the auction results show how much interest investors demand to lock their money up for 30 years. Strong demand can help pull yields lower, while weak demand can push yields higher and potentially ripple through the broader bond market, the US dollar, gold and silver.

Bullish for Gold & Silver

✅ Strong demand

✅ 30-year yield declines

✅ Real yields fall

Bearish for Gold & Silver

❌ Weak demand

❌ Auction tails badly

❌ Long-term yields spike

❌ Broader bond-market stress increases

My Take

A weak 30-year auction following hot inflation could be an ugly combination for precious metals in the short term if yields surge. A strong auction following cooler inflation could produce exactly the opposite setup. Don't ignore Thursday afternoon.

Friday, August 14

1. 🚨July Retail Sales — 8:30 AM ET

   Friday gives us the third major piece of this week's economic puzzle: THE US CONSUMER. Retail Sales measures how much money Americans spent at stores, restaurants, and online during the month — giving us a real-time look at whether consumers are still spending strongly or starting to pull back.

   
   

I'll be watching:

✔ Headline Retail Sales MoM: Expected: ~+0.3% | Previous: +0.2%

✔ Retail Sales Ex-Autos: Expected: TBD | Previous: TBD

✔ Control Group: Expected: TBD | Previous: TBD

✔ Gasoline-station spending

✔ Online sales

✔ Restaurant spending

Bullish for Gold & Silver

✅ Retail sales disappoint

✅ Consumer appears to be weakening

✅ Treasury yields decline

✅ Easier Fed policy becomes more likely

Bearish for Gold & Silver

❌ Retail sales beat

❌ Consumer remains resilient

❌ Treasury yields rise

❌ Fed easing expectations decrease

🚨 Stagflation Watch!

Imagine we get:

🔥 Hot CPI

🔥 Hot PPI

📉 Weak retail sales

📉 Weak employment

That's a very different economic picture from a normal slowdown.

It would suggest growth is weakening while inflation remains elevated.

My Take

By Friday, we should know MUCH more about three critical parts of the US economy:

JOBS → INFLATION → CONSUMER

And that combination could have major implications for gold, silver, Treasury yields and Fed policy.

2. 😊 University of Michigan Consumer Sentiment & Inflation Expectations:

The University of Michigan Consumer Sentiment survey measures how optimistic or pessimistic American households feel about the economy, their personal finances, and future conditions.

It also includes Inflation Expectations, which show what consumers think inflation will be over the next year and the next 5–10 years — a closely watched signal because rising expectations can become self-fulfilling and influence Fed policy.

I'll be watching consumer sentiment, but the part I care most about for gold and silver is:

INFLATION EXPECTATIONS.

Watch:

✔ Headline sentiment

✔ Current conditions

✔ Consumer expectations

✔ 1-year inflation expectations

✔ Longer-term inflation expectations

My Take

Inflation expectations can influence the bond market and Federal Reserve expectations even when the headline sentiment number doesn't generate a huge reaction. After CPI and PPI, this will give us another look at whether inflation psychology is becoming entrenched.

3. 📊 CFTC Gold & Silver Positioning:

CFTC Gold & Silver Positioning shows how many long (bullish) and short (bearish) positions large traders, hedge funds, and commercial players currently hold in the gold and silver futures markets. It gives us a snapshot of futures-market positioning — showing whether major trader groups are heavily long, heavily short, or beginning to shift their exposure.

Friday also gives us another look at futures-market positioning.

I'll be watching:

✔ Managed Money longs

✔ Managed Money shorts

✔ Commercial positioning

✔ Net speculative exposure

✔ Open interest

This could be particularly interesting for silver after the recent violent move higher.

My Take

I want to know whether speculative longs are piling back into silver or whether positioning remains relatively restrained. If silver continues rising while speculative positioning remains light, that could suggest the trade isn't yet crowded. If longs suddenly become extremely aggressive, the setup changes.

🌎All-Week Gold & Silver Watchouts

1. Iran & Strait of Hormuz

This remains the biggest UNSCHEDULED wildcard of the week.

I'll be watching:

✔ Ceasefire developments

✔ US-Iran negotiations

✔ Iranian military activity

✔ Tanker attacks

✔ Strait of Hormuz & Bab Al Mandab shipping

✔ Oil infrastructure

✔ US military activity

✔ Gulf-state involvement

One headline could overpower CPI, PPI or Retail Sales within minutes.

My Take

Don't assume:

WAR = Gold Up

or

PEACE = Gold Down.

The relationship can be much more complicated.

Geopolitics can affect:

Oil → Inflation → Treasury Yields → US Dollar → Gold & Silver.

That's the chain I'm watching.

🛢️ 2. Oil Prices

Oil could be the bridge connecting the Middle East to US monetary policy this week.

I'll be watching:

✔ WTI

✔ Brent

✔ Strait of Hormuz flows

✔ Tanker rates

✔ EIA inventories

✔ Refinery activity

✔ Geopolitical risk premiums

My Take

A major oil spike could make the Fed's inflation problem considerably harder. A sustained decline could do the opposite.

💵 3. Treasury Yields & Real Yields

This remains one of my biggest daily indicators for precious metals.

This week we have:

🔥 CPI

🔥 PPI

🔥 Retail Sales

🏦 Three Treasury auctions

That creates plenty of opportunities for bond-market volatility.

Bullish for Gold & Silver

✅ Nominal yields fall

✅ Real yields fall

Bearish for Gold & Silver

❌ Nominal yields rise

❌ Real yields rise

My Take

Watch the 10-year and 30-year Treasury yields especially closely Wednesday and Thursday.

💲 4. US Dollar Index

Gold and silver often benefit when the US dollar weakens. Cooler inflation combined with a weakening economy could pressure the dollar. Hot inflation and rising Treasury yields could strengthen it.

My Take

One signal I'll be watching closely: What happens if gold rises while the US dollar is ALSO rising?

That could suggest unusually strong underlying demand for gold.

🥈 5. COMEX Silver & Physical Market Signals

Silver remains one of the most interesting markets on my screen.

I'll be watching:

✔ COMEX open interest

✔ Managed Money positioning

✔ Registered inventories

✔ Eligible inventories

✔ Delivery activity

✔ Lease rates

✔ Large warehouse movements

✔ Short-covering

✔ Physical premiums

My Take

After silver's recent move, I want to distinguish between:

Paper-market momentum and Physical-market tightness.

If both begin moving in the same bullish direction at the same time, THAT gets my attention.

6. Shanghai Gold & Silver

China remains crucial to the precious-metals market.

I'll continue watching:

✔ Shanghai silver premiums

✔ Shanghai gold premiums

✔ SHFE silver pricing

✔ Physical demand

✔ Import activity

✔ Arbitrage versus Western markets

My Take

If Shanghai continues paying a meaningful premium while Western silver prices rise, that could strengthen the argument that physical demand is helping support the move.

🥇 7. Central-Bank Gold Demand

Central banks remain one of the most important structural sources of gold demand.

I'll continue watching for:

✔ New reserve disclosures

✔ Major purchases

✔ Major sales

✔ Gold repatriation

✔ Changes in gold's share of reserves

✔ Emerging-market currency stress

My Take

Short-term traders may obsess over every CPI print. Central banks operate on a completely different timeframe. That's one reason I continue separating short-term price catalysts from the long-term gold thesis.

🥈 Silver-Specific Watch

Silver deserves its own section because it sits at the intersection of:

🥈 Monetary demand

🏭 Industrial demand

📈 Futures positioning

🇨🇳 Chinese physical demand

⛏️ Mine supply

This week I'll be watching:

✔ COMEX positioning

✔ Short-covering

✔ Shanghai premiums

✔ Physical-market tightness

✔ Gold/Silver Ratio

✔ Industrial demand

✔ Mine-supply developments

✔ Ongoing structural silver-market deficits

✔ Geopolitics

Silver can move MUCH faster than gold when momentum takes over. That works in both directions.

🧭 My Overall Take for Gold & Silver This Week

Last week gave us a major surprise: The US labor market may be weakening faster than expected.

This week asks the next question: Is inflation cooling enough for the Fed to respond? I see three major scenarios.

🟢 Most Bullish Scenario for Gold & Silver

✅ CPI cools

✅ Core CPI cools

✅ PPI cools

✅ Jobless claims rise

✅ Retail sales weaken

✅ Treasury auctions see strong demand

✅ Treasury yields fall

✅ Real yields fall

✅ US dollar weakens

That combination could strengthen expectations for easier monetary policy and potentially give gold and silver another major tailwind.

🔴 Most Bearish Scenario for Gold & Silver

❌ CPI hotter than expected

❌ Core inflation remains sticky

❌ PPI accelerates

❌ Retail sales remain strong

❌ Treasury auctions see weak demand

❌ Treasury yields rise

❌ Real yields rise

❌ US dollar strengthens

That could pressure precious metals by forcing markets to reconsider how quickly the Federal Reserve can ease policy.

🟡 The Wildcard: STAGFLATION

This may be the most interesting scenario of all:

📉 Weak labor market

🔥 Hot CPI/PPI

📉 Weak consumer

🛢️ High oil prices

🌎 Persistent geopolitical risk

That would leave the Fed facing a nasty combination: Slowing growth + persistent inflation. Gold and silver could become extremely volatile as markets wrestle with competing forces from inflation, real yields, safe-haven demand and monetary-policy expectations. And that's exactly why I don't want to look at any one report in isolation.

Final Thought

Last week was about: JOBS.

This week is about: INFLATION.

And by Friday, we'll know much more about: THE CONSUMER.

So the progression is simple:

JOBS → CPI → PPI → RETAIL SALES

But then add:

🏦 Three Treasury auctions

🛢️ Oil

🌎 Iran

🚢 Strait of Hormuz

💵 US dollar

📈 Treasury yields

🥈 Silver positioning

🇨🇳 Shanghai physical demand

…and this could become another VERY volatile week for precious metals.

I'll be watching the data, I'll be watching the bond market & I'll be watching the dollar. And I'll be watching how gold and silver react when all three collide.

🦀Crustacean Nation

What is YOUR biggest watchout this week?

🔥 CPI?

🏦 Treasury auctions?

📉 The weakening labor market?

🌎 Iran & the Strait of Hormuz?

🥈 Or are you watching silver's next attempt to break higher?

👇 Do you expect gold & silver to finish the week HIGHER or LOWER? Drop your prediction below!

— International Stacker

Stay consistent. Stay stacked!

Not financial advice. Just some dude on the internet with crabs!

Weekly Gold and Silver Calendar

Day	Time ET	Event	Importance for Gold & Silver
Monday, Aug. 10	All Day	Markets Digest Jobs Report	🟡 Medium
Tuesday, Aug. 11	10:00 AM	Existing Home Sales	🟡 Medium
	1:00 PM	3-Year Treasury Auction	🟡 Medium
Wednesday, Aug. 12	8:30 AM	July CPI + Core CPI	🔴 VERY HIGH
	10:30 AM	EIA Petroleum Report	🟡 Medium
	1:00 PM	10-Year Treasury Auction	🟠 High
	Afternoon	Monthly Treasury Statement	🟡 Medium
Thursday, Aug. 13	8:30 AM	July PPI + Core PPI	🔴 VERY HIGH
	8:30 AM	Initial Jobless Claims	🟠 High
	1:00 PM	30-Year Treasury Auction	🟠 High
Friday, Aug. 14	8:30 AM	July Retail Sales	🔴 VERY HIGH
	Morning	University of Michigan Consumer Sentiment	🟠 High
	Afternoon	CFTC Gold & Silver Positioning	🟡 Medium
All Week	—	Fed Speakers	🟠 High
All Week	—	Iran / Strait of Hormuz / Oil	🔴 VERY HIGH
All Week	—	Treasury Yields & US Dollar	🔴 VERY HIGH
All Week	—	COMEX & Shanghai Silver	🟠 High

Research & Data Sources

• Federal Reserve — Fed policy, speeches & interest rates

• Bureau of Labor Statistics (BLS) — CPI, PPI & job-market data

• US Census Bureau — Retail Sales

• National Association of Realtors (NAR) — Existing Home Sales

• US Treasury — Treasury auctions, debt & fiscal data

• US Energy Information Administration (EIA) — Oil inventories & energy-market data

• University of Michigan Surveys of Consumers — Consumer sentiment & inflation expectations

• CME Group (COMEX) — Gold & silver futures

• CFTC Commitments of Traders (COT) — Gold & silver futures positioning

• Shanghai Gold Exchange (SGE) — Chinese precious-metals markets

• World Gold Council — Gold demand & central-bank gold

• The Silver Institute — Silver supply, demand & market fundamentals

  
  

FAQ: Gold & Silver Weekly Watchout

What will move gold prices this week?

The biggest scheduled catalyst is Wednesday's July CPI report, followed by Thursday's PPI report and Friday's Retail Sales. Treasury auctions, jobless claims, Treasury yields, the US dollar, oil prices and any major developments involving Iran or the Strait of Hormuz could also significantly impact gold prices.

What will move silver prices this week?

Silver will react to many of the same factors as gold, including CPI, PPI, Treasury yields, the US dollar and Federal Reserve expectations. Because silver is also an industrial metal, Retail Sales, economic-growth expectations, Chinese demand, COMEX positioning and physical-market conditions could also influence prices.

When is the July 2026 CPI Report?

The July Consumer Price Index will be released Wednesday, August 12, at 8:30 AM ET.

Markets will closely watch:

• Headline CPI MoM & YoY

• Core CPI MoM & YoY

• Shelter

• Services inflation

• Energy

• Medical care

• Used vehicles

• Motor vehicle insurance

Why does CPI affect gold and silver?

CPI is one of the most closely watched measures of US inflation and can quickly change expectations for Federal Reserve interest-rate policy. Cooler inflation can pressure Treasury yields and the US dollar, potentially supporting precious metals, while hotter inflation can push yields and the dollar higher and pressure gold and silver in the short term.

Why is PPI, and why does it matter for gold and silver?

The Producer Price Index measures changes in prices received by producers for goods and services, providing another look at inflationary pressures in the economy. A hotter or cooler PPI report can influence inflation expectations, Treasury yields, the US dollar and expectations for Federal Reserve policy.

Why are Retail Sales important this week?

Retail Sales provide an important look at the strength of the US consumer. After last week's weak Jobs Report and this week's CPI and PPI releases, Friday's report will help markets assess whether consumer spending remains resilient or whether economic activity may be weakening.

Why do Treasury yields matter for gold?

Gold and silver do not pay interest. When Treasury yields—especially real yields—rise, interest-bearing assets become relatively more attractive. Falling real yields generally create a more supportive environment for precious metals.

Why do Treasury yields sometimes matter more than inflation?

Gold doesn't always react directly to inflation reports. In many cases, the market's reaction in Treasury yields and the US dollar has a greater short-term impact on precious-metals prices. That's why investors often watch the bond market just as closely as the economic data itself.

Why is the US Dollar important this week?

Gold and silver often have an inverse relationship with the US Dollar Index (DXY). A weaker dollar can support precious-metals prices, while a stronger dollar can create headwinds — although that relationship does not hold all the time.

How could Iran and the Strait of Hormuz affect precious metals?

Any major escalation involving Iran or the Strait of Hormuz could disrupt global energy markets, increase oil prices, influence inflation expectations and trigger safe-haven demand. However, recent market reactions have shown that rising Treasury yields and a stronger US dollar can sometimes outweigh traditional safe-haven buying.

What is stagflation, and why does it matter for gold and silver/

Stagflation is the difficult combination of weak or stagnant economic growth and persistently high inflation. This could put the Federal Reserve in a difficult position because cutting rates could worsen inflation while keeping monetary policy restrictive could put additional pressure on employment and economic growth.

Why does China matter for gold and silver?

China is one of the world's largest consumers of gold and silver. Physical demand, Shanghai Gold Exchange activity, central-bank purchases and manufacturing trends can all influence global precious-metals markets.

Why is silver often more volatile than gold?

Silver serves two roles:

• As a precious metal

• As an industrial metal

Because of this dual demand, silver often experiences larger price swings than gold during both rallies and corrections.

What should stackers do during volatile weeks? 

Stay focused on your long-term strategy. Avoid leverage, do not go into debt to purchase precious metals, compare premiums carefully, and do not allow one report or breaking headline to force an emotional decision.

What is the best strategy for stackers right now?

Stay consistent through Dollar Cost Averaging (DCA). Focus on your long-term plan rather than trying to time every headline. Many stackers view physical gold and silver as financial insurance during periods of monetary, inflation and geopolitical uncertainty.

What is Dollar Cost Averaging (DCA)?

Dollar Cost Averaging is an investment strategy where you purchase a fixed dollar amount of gold or silver on a regular schedule regardless of price. This helps remove emotion from investing while reducing the impact of short-term market volatility.

Why do many stackers use Dollar Cost Averaging?

Many long-term stackers use Dollar Cost Averaging because it avoids trying to perfectly time the market. When prices fall, the same dollar amount purchases more troy ounces. When prices rise, fewer ounces are purchased. Over time, this can lower the average cost per troy ounce.

Disclaimer: This website and my YouTube channel/social media are for entertainment and educational purposes only. I am not a financial advisor, investment professional, or licensed expert. Everything I share is my personal opinion as just some dude on the internet with crabs. None of the content is financial, legal, tax, or investment advice. Past performance does not guarantee future results. Always do your own research and consult a qualified professional before making any financial decisions. You are solely responsible for your own investment and financial choices. I am not liable for any losses or decisions you make based on this content.

Important Opinion: Never go into debt to buy gold or silver. Do not use leverage, margin, or loans to purchase precious metals.