Gold and other precious metals dropped today, dragged down by the outlook for interest rate hikes from the Federal Reserve. Curiously, palladium was an exception, touching the record high during the Wednesday’s trading session. Last week, Fed Chairman Jerome Powell made remarks that were considered dovish by markets. Yesterday, though, New York Fed President John Williams contradicted the dovish stance of the Fed Chair somewhat, saying that he thinks that the Fed should continue raising interest rates “over the next year or so.” He did not mentioned specific dates, saying: Markets consider a hike in December almost ... (full story)