Fed Continues To Lean Hawkish Gold And Silver React

GOLD

Gold and Silver Prices are notably lower today following an IMF Forum in Washington DC where Fed Chairman Jerome Powell spoke on the Fed’s Monetary Policy. Powell leaned Hawkish in his address, indicating that the Federal Reserve would continue with rate hikes if needed to stem inflation. This combined with the easing of safe haven demand has brought Gold to a new low this morning.

At 11am PT today, Gold is trading at $1936 per ounce, down $25.

SILVER

Silver followed Gold lower this morning following the Fed address in Washington D.C. yesterday. The white metal dipped $0.42 this morning but remains above the $22 level.

At 11am PT today, Silver is trading at $22.27 per ounce, down $0.42.