Gold and Silver Tumble Amid Rate Hike Bets and Dollar Gains


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.

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