Analysts Predict Lower Interest Rates by August

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.

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