Concerns Federal Reserve May Increase Interest Rates Stall Precious Metal Prices

GOLD

Chairman Powell spoke today at an economic club after the release of the job market report last week and reiterated the Fed’s goal to combat inflation. Gold prices slowed in its rally as concerns increase that the Federal Reserve will continue to raise interest rates. At 11am PT today, Gold is trading at $1,872 per ounce, up $4.

SILVER

Silver is still struggling to break through the $23 level following Chairman Powell’s speech. At 11am PT today, Silver is trading at $22.20 per ounce, down $0.02.