The Debt Ceiling Will Tell Future For Gold

GOLD

Gold fell under $1,950 after the Fed released the PCE price index. We will continue to see Gold in this predicament until inflation can be lowered. President Biden and other lawmakers are in talks about raising the debt ceiling, so we will need to wait and see their decision before we see any real change in the Gold market. At 11am PT today, Gold is trading at $1948 per ounce, down $3.

SILVER

Silver has finally been able to overcome its $23 slump in early trading. Even with this momentum, Silver is not out of the dark yet, it will still have to push through the pressure of the markets. At 11am PT today, Silver is trading at $23.38 per ounce, up $0.51.