Gold futures hit May highs as fiscal concerns offset yields.

Bob Iaccino of Path Trading Partners analyzes the metals markets, noting that Gold futures rallied for a fifth consecutive week, reaching their highest level since May 14. Despite a slight uptick in yields and shifting rate-hike expectations, Gold prices remained supported by a strong fiscal stress and currency debasement narrative. Iaccino highlights that the next major test for the market arrives on Friday, when Federal Reserve Chair Kevin Warsh delivers his first Jackson Hole keynote address, which could serve as a significant swing factor for the yellow metal.