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Gold and Silver Rally on Doubts Over US Inflation and Fed Rate Hikes
Gold and silver prices rallied further on Friday from this week's 7-month lows as the Dollar dropped amid growing doubts that the Federal Reserve under new chair Kevin Warsh will raise US interest rates any time soon despite rising headline inflation. Bond prices rose again, pushing down the annual yield offered by 10-year US Treasury debt to a 7-week low beneath 4.35%. The Dollar meanwhile fell further from Wednesday's 14-month high on its DXY index after data for May showed the deepest monthly US trade deficit in goods since the rush to stockpile preceding President Trump's "Liberation Day" tariffs in April last ... (full story)
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With inflation topping 4%, the Trump administration is easing off its long-standing calls for the Federal Reserve to immediately cut interest rates. That is giving new Fed Chairman Kevin Warsh an extended political grace period as he deals with a challenging economic environment, but underscores the depth of the pushback he could face if the mercurial ...
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- Jun 27, 7:12am | 6 hr ago Posted byFundamental Analysis52
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