Gold & Silver Weekly Watchouts: CPI & PPI - Key Events That Could Move Precious Metals This Week (July 13–17, 2026)
- International Stacker
- Jul 12
- 8 min read
Every Sunday I publish the International Stacker Gold & Silver Weekly Watchout to help precious metals stackers & investors prepare for the biggest market-moving events in the week ahead.
This week (July 13–17) could be one of the most important trading weeks of July. Inflation data (CPI & PPI), multiple Federal Reserve speakers including Fed Chair Kevin Warsh testifying before Congress for the first time as Chair, retail sales, manufacturing reports, and ongoing geopolitical developments all have the potential to move gold, silver, the U.S. dollar, Treasury yields, and broader financial markets.
Gold and silver remain highly sensitive to inflation expectations, Federal Reserve policy, real interest rates, and geopolitical risk. Even relatively small surprises could create meaningful volatility.
Below are the biggest events I’ll be watching — and why they matter for physical gold and silver investors.
Why This Week Matters for Gold & Silver
This week's calendar combines several of the biggest drivers of precious metals:
Federal Reserve commentary & Congressional testimony
The US Dollar Index (DXY)
Consumer spending
Manufacturing activity
Ongoing Middle East tensions
Physical precious metals market activity
Any one of these could influence gold and silver prices. Together, they have the potential to create an active week across the precious metals markets.
This Week’s Key Events
Monday, July 13
🎤 Federal Reserve Speakers: Fed Vice Chair Michelle Bowman & Fed Governor Christopher Waller.
Why It Matters
Fed speakers are always worth watching—especially with new Fed Chair Kevin Warsh now leading the central bank.
Markets will closely monitor any comments regarding:
Inflation
Interest rates
The labor market
Economic growth
Future monetary policy
Treasury yields and the U.S. dollar can move quickly after unexpected Fed comments, and gold and silver often react immediately.
US Federal Budget Statement (June)
The Treasury releases the June Federal Budget Statement. While this report rarely moves markets immediately, it provides another snapshot of:
Government spending
Budget deficits
Federal borrowing
Long-term deficit spending continues to be one of the strongest structural arguments for owning precious metals.
Tuesday, July 14
🔥 Consumer Price Index (CPI) at 8:30 AM est: This includes:
Headline CPI
Core CPI
Real Earnings
Why It Matters
This is likely the biggest scheduled event of the week. Inflation data directly impacts:
Federal Reserve expectations
Treasury yields
Real interest rates
The US dollar
Generally speaking:
Cooler inflation
Supports rate-cut expectations
Often bullish for gold and silver
Hotter inflation
Can push yields and the dollar higher
May pressure precious metals in the short term
Markets will pay especially close attention to Core CPI, which excludes food and energy.
📊 Fed Chair Kevin Warsh is testifying: House Financial Services Committee (10am est) - Semiannual Monetary Policy Report to Congress (his first as Chair).
Fed Chair Kevin Warsh’s testimony (his first as Chair) will be closely watched for any signals on policy direction. Congressional testimony from the Fed Chair often moves markets significantly.
📊 NFIB Small Business Optimism Index: This provides another look at business confidence, hiring plans, inflation pressures, and economic activity. While it typically isn't a major market mover by itself, it helps build the broader economic picture heading into the Fed's next meeting.
Wednesday, July 15
📈 Producer Price Index (PPI) at 8:30am est: PPI measures inflation at the producer level.
Why It Matters
Producer inflation often becomes tomorrow's consumer inflation. Markets will compare Tuesday's CPI report with Wednesday's PPI to determine whether inflation pressures are broadening or easing.
🏭 Empire State Manufacturing Survey: An early look at manufacturing activity in New York. Manufacturing data is especially important for silver because of its heavy industrial demand.
📖 Federal Reserve Beige Book at 2pm est.
Investors will be watching for:
Labor market trends
Wage growth
Consumer spending
Manufacturing activity
Inflation pressures
This report often shapes expectations ahead of the July 28–29 FOMC meeting.
📊 Fed Chair Kevin Warsh is testifying: Senate Banking, Housing, & Urban Affairs Committee (10am est) - Semiannual Monetary Policy Report to Congress.
Thursday, July 16
🛍️ Retail Sales: Includes the closely watched Control Group.
Why It Matters
Consumer spending accounts for roughly 70% of the US economy.
Strong retail sales:
Suggest economic resilience
May push Treasury yields higher
Can pressure gold and silver
Weak retail sales:
Increase recession concerns
Can boost safe-haven demand
May strengthen expectations for future rate cuts
🏭 Philadelphia Fed Manufacturing Survey: Another important read on manufacturing activity.
Silver investors should pay particular attention because manufacturing demand remains one of silver's largest long-term drivers.
🏠 Pending Home Sales: Provides another snapshot of housing activity and the impact of higher interest rates.
Friday, July 17
🌎 Import & Export Price Indexes: These reports feed into inflation expectations and provide additional insight into global pricing pressures. While not typically a major market mover, they can influence the dollar and Treasury yields heading into the weekend.
🌎 China Watch: China remains one of the world's largest buyers of physical gold and a major consumer of silver. I'll be watching for:
Gold market developments
Shanghai Gold Exchange activity
Industrial demand headlines
Yuan strength or weakness
Any new central bank gold-related announcements
China continues to play an increasingly important role in global precious metals pricing.
🌎 Geopolitical Watch: The Middle East remains the biggest wildcard. I'll continue monitoring:
Iran
Strait of Hormuz
Oil prices
Shipping disruptions
US military developments
Ceasefire negotiations
Any escalation could quickly increase safe-haven demand for gold while creating additional volatility across financial markets.
🌎 COMEX & Physical Market Watch: Beyond economic data, I'll also be watching physical market indicators including:
Gold open interest
Silver open interest
Registered vs. Eligible inventories
Large COMEX deliveries
ETF inflows and outflows
Physical premiums
Any unusual positioning ahead of options and futures expiration later this month
REPO Market
These indicators don't always move prices immediately, but they often reveal important trends developing beneath the surface.
Markets I'll Be Watching Every Day
📈 US Dollar Index (DXY)
📉 10-Year Treasury Yield
📊 Real Yields
🛢️ Oil Prices
⚠️ VIX (Volatility Index)
🥇 Gold/Silver Ratio
These markets often provide early clues about where precious metals may be headed next.
My Biggest Watchouts This Week
If I had to rank the biggest potential market movers:
Consumer Price Index (CPI)
Producer Price Index (PPI)
Federal Reserve speakers (Bowman & Waller)
Iran / Strait of Hormuz developments (Because hostilities are continuing & the market has had its initial reaction.)
Retail Sales
Treasury yields & the US Dollar
Beige Book
Manufacturing data
COMEX positioning
What Could Push Gold & Silver Higher?
✅ Softer-than-expected CPI or PPI
✅ Dovish Federal Reserve comments
✅ Labor market weakness
✅ De-escalation in the Middle East (if current trends continue)
✅ Weak retail sales
✅ Falling Treasury yields
✅ A weaker US dollar
What Could Pressure Gold & Silver?
❌ Hotter-than-expected inflation
❌ Hawkish Fed comments
❌ Strong retail sales
❌ Rising Treasury yields
❌ A stronger US dollar
Silver-Specific Watch
Silver continues to have a unique advantage over gold because it benefits from both monetary demand and industrial demand.
Key themes I'll continue monitoring include:
Solar demand
AI infrastructure
Electronics manufacturing
Electric vehicles
Grid modernization
Structural supply deficits
New demand
Unlike gold, silver remains heavily tied to global manufacturing activity.
Bottom Line for Stackers
Remember... Markets react & Stackers prepare. Economic reports will come and go. Headlines will change.
But the reasons many of us own physical gold and silver haven't changed:
Portfolio diversification
Inflation protection
Currency debasement
Geopolitical uncertainty
Long-term wealth preservation
Reduced counterparty risk
If volatility picks up this week, I'll be watching closely—but I won't lose sight of the bigger picture.
For long-term physical stackers, my approach remains the same:
Stay consistent with Dollar Cost Averaging (DCA), remain patient, and treat meaningful pullbacks as potential opportunities rather than reasons to panic.
Crustacean Nation 🦀
What are YOU watching most closely this week?
📊 CPI & PPI?
🏦 Fed speakers?
🏦 Kevin Warsh testimony?
🌍 Iran & the Strait of Hormuz?
🥈 COMEX positioning?
👇 Drop your thoughts below! As always—I read every comment.
Stay consistent. Stay stacked.
— International Stacker
Not financial advice. Just some dude on the internet with Crabs!
Sources & References
FAQ: Gold & Silver Weekly Watchout
What is the biggest event for gold and silver this week?
The June CPI report on Tuesday is likely the week's biggest scheduled market mover, followed closely by Wednesday's PPI report.
How important is the Iran / Strait of Hormuz situation right now?
Very important. While economic reports are scheduled events, geopolitical headlines can move markets at any time. Any escalation involving Iran, commercial shipping, or the Strait of Hormuz could quickly increase demand for safe-haven assets such as gold or even sell-offs if keeping with short term trends.
Why do Fed Speakers matter?
Federal Reserve officials can shift expectations for interest rates with just a few comments. Changes in rate expectations often move Treasury yields, the dollar, gold, and silver.
Why does inflation matter for precious metals?
Gold and silver generally perform best when real interest rates are falling. Inflation reports heavily influence those expectations.
Why do Treasury yields matter for gold?
Treasury yields (especially real yields) remain one of the most important short-term drivers for gold and silver. Higher yields generally make non-yielding assets like physical gold and silver less attractive, while falling yields often provide support. This relationship is worth watching closely all week.
Why is silver often more volatile than gold?
Silver serves two roles.
It is both:
a precious metal
an industrial metal; Because of this dual demand, silver often experiences larger price swings than gold during both bull and bear markets.
Why should stackers watch China this week?
China is one of the world's largest consumers of silver for manufacturing and technology. Economic reports such as China's Manufacturing PMI can influence expectations for industrial silver demand.
How important is the US Dollar this week?
Highly important. Gold and silver normally move inversely to the DXY. A weaker dollar tends to support higher precious metals prices.
Why is everyone watching Iran and the Strait of Hormuz?
Any escalation could affect oil prices, inflation expectations, global shipping, and safe-haven demand for gold.
What should stackers focus on during volatile weeks?
Long-term stackers often focus less on day-to-day price swings and more on consistent accumulation, risk management, and preserving purchasing power.
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. Physical gold and silver remain excellent financial insurance during periods of uncertainty, inflation risks, and geopolitical tension.
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.