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Gold $2,004.84 $1.87 0.09% Silver $23.03 $0.01 0.04% Platinum $924.26 $4.93 0.54% Palladium $966.41 $21.38 2.26%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

While the ebb and flow of action in the US #dollar has been buffeting the #gold and #silver trade this week, minimal weakness in the dollar this morning has not provided visible support.

Clearly, reiterated hawkish commentary from the US Federal Reserve Chairman to a US congressional committee prompted the initial washout in gold prices yesterday.

We should note that the Fed chairman yesterday indicated the Fed was sticking with its 2% inflation target which probably increases the likelihood of more than two 25 basis point rate hikes this year...[MORE]

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