Why gold and silver are down for a third day in a row
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 23 2024
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Source: MarketWatch
- Gold and Silver Prices Decline: Both gold and silver experienced significant drops in trading on Thursday, marking a third consecutive session of losses.
- Federal Reserve's Stance on Interest Rates: Minutes from the Federal Reserve's May meeting revealed that some policymakers were open to raising interest rates to combat inflation.
- Concerns Over Inflation: Fed officials expressed concern over disappointing inflation readings and anticipated a more persistent inflation trend in the upcoming months.
- Market Reaction: The market responded to the Fed's minutes by pushing gold and silver prices lower as investors reacted to the potential for interest rate hikes.
- Continued Monitoring: Investors are likely to closely monitor future developments and statements from the Federal Reserve regarding inflation and interest rates.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
