Prices Drop Following Europe's Interest Rate Increases

GOLD

The Bank of England and European Central Bank increased their interest rates today. The European Central Banks stated its intentions to continue to raise interest rates to lower inflation. Gold prices reacted and moved below $1,920 as the U.S. dollar made a small recovery. At 11am PT today, Gold is trading at $1,913 per ounce, down $10.

SILVER

Following the European monetary policy announcements, Silver prices also dropped after rallying yesterday. At 11am PT today, Silver is trading at $23.47 per ounce, down $0.03.