Analysts Predict Lower Interest Rates by August

GOLD

The financial markets reacted to comments made in the Jay Powell’s press conference positively. Analysts believe that yesterday’s ¼ point increase will probably be the last increase and predict that interest rates will be heading lower by August. Gold rallied on this information, reaching a high today of $1,999 per ounce before seeing some light selling. At 11am PT today, Gold is trading at $1,996 per ounce, up $41 on excellent volume.

SILVER

Silver moved higher with Gold, breaking the $23 per ounce resistance level. Demand for many of the popular Silver investment coins continues to grow and premium are moving higher. At 11am PT today, Silver is up $0.45 per ounce, trading at $23.13 on strong volume.