Gold and Silver Tumble Amid Rate Hike Bets and Dollar Gains

Gold and Silver Tumble Amid Rate Hike Bets and Dollar Gains


4/21/2023 1:47:22 PM

Last week, gold and silver saw modest gains as recession worries fueled safe-haven demand. While this week was less busy in terms of scheduled economic events, precious metals prices were heavily influenced by dollar index movements and rate hike speculation.

 On Wednesday, the Fed’s Beige Book was released which described economic conditions from around the U.S. The Beige Book is a collection of anecdotes provided by Fed officials throughout the U.S., and is typically released eight times a year. The latest iteration outlined “moderate” price increases, and a slowdown in hiring. The report also mentioned economic slowdowns and underscored the likelihood of a 0.25% rate hike at the next Fed policy meeting, followed by a pause in rate hikes.

APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies

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