Asian and European Markets React To Recent Federal Reserve Tightening Policies

GOLD

Last night, as Asian and European financial markets reacted to our recent Federal Reserve tightening policies the price of Gold dipped to test the $1,720 per ounce level. During the same time, the U.S. Dollar Index hit a 20-year high of 109.48. In late trading in Europe and early trading in the U.S. the dollar sold off and Gold started to rallied $20. At 11am PT today, Gold is trading at $1,739, down $1 from Friday, on good volume.

SILVER

Silver followed Gold lower in early trading, reaching a low of $18.37 per ounce. As we rounded out of European trading buyers saw precious metals as the best inflation hedge and the price started to rally. At 11am PT today, Silver is down $0.14 per ounce, trading at $18.80 on average volume.