Spot gold and silver prices were sharply lower after the close on Wednesday, as a firmer U.S. dollar, post-Fed rate repricing and easing oil-supply fears outweighed residual haven demand tied to the U.S.-Iran situation. Silver took the brunt of the selling pressure. At the time of writing, spot gold was trading near $3,998.00 an ounce, down 2.73%, while spot silver was trading near $57.470, down 6.50% on the session. The latest market reaction remains Fed-led. The Federal Reserve left the target range for the federal funds rate at 3.50% to 3.75% on June 17, but the statement kept the focus on elevated inflation and ... (full story)