Gold And Silver Feeling Pressure As U.S. Dollar Continues to Rise

GOLD

Gold and Silver prices are notably lower today, with Gold crossing below the key $1,900 support level this morning. The US Dollar Index has been gaining ground recently, recovering most of its year-to-date losses and driving the prices of precious metals lower. Analysts are waiting for next week’s Federal Reserve symposium with hopes that it will bring insight into the US central bank’s policy intentions for the rest of this year and into 2024.

At 11am PT today, Gold is trading at $1,898 per ounce, down $6.

SILVER

Silver continues to follow Gold down, persisting in its slow movement downwards as the dollar strengthens and safe-haven buying of precious metals diminishes.

At 11am PT today, Silver is trading at $22.51 per ounce, down $0.09.