Reported 5 months ago
Gold and silver prices fell for the third consecutive day after Federal Reserve minutes revealed policymakers were willing to raise interest rates to combat inflation, causing losses for the precious metals. Gold settled at $2,337.70 an ounce, down 2.3%, while silver settled at $30.46 an ounce, a 3.3% decline. The release of the minutes led traders to anticipate a November rate cut by the Fed, resulting in higher Treasury yields and a stronger dollar, impacting the non-yielding metals negatively.
Source: YAHOO