Interest Rate Hikes Are Pressuring Precious Metals

GOLD

Gold has traded today between $1,921 and $1,942 as it provides a new base for the next move above $1,950 and $2,000 per ounce. Interest rates moving higher is putting pressure on the price of precious metals. At 11am PT today, Gold is trading at $1,933 per ounce, down $9 on normal volume.

SILVER

Silver continues to move above and below the key $25 support level. Inflation data being released in Europe, U.S. and Asia is driving shortages in popular Silver investment products, while driving up premiums. At 11am PT today, Silver is down $0.26 per ounce, trading at $25.06 on average volume.