Interest Rate Hikes Drive Down Equity and Precious Metal Markets

GOLD

Interest rate hikes from many of the world’s largest central banks to combat inflationary trends have driven down equity and precious metal markets. The Gold price has reached a low of $1,665 this morning as our Federal Reserve sticks to its aggressive rate hike plan. At 11am Today, Gold is trading at $1667 per ounce, down $34 on excellent volume.

SILVER

Silver followed Gold lower, breaking below the $20 per ounce support level. Silver reached a low of $19.52 per ounce before seeing fresh bargain buying. At 11am PT today, Silver is down $0.55 per ounce, trading at $19.65 on heavy volume.