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ING Cuts Gold and Silver Forecasts as Rising Yields and Stronger Dollar Weigh on Prices
Surging momentum in the U.S. dollar and elevated bond yields are taking their toll on the precious metals market, with gold prices dropping below $4,000 an ounce and hitting a new low for the year. Meanwhile, silver prices have fallen below $60 an ounce. Although gold and silver's bear-market correction from their record highs in January has surprised some traders and analysts, Ewa Manthey, commodity analyst at ING, said in her latest precious metals report that the selloff highlights the extent to which markets have shifted their focus toward higher interest rates and tighter financial conditions. Markets continue ... (full story)
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- Jun 24, 12:39pm | 28 hr ago Posted byFundamental Analysis80
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