Gold prices could fall to $3,900, silver to $50 as Fed tightening pressures precious metals – Sucden Financial - Kitco
Gold prices could fall to $3,900, silver to $50 as Fed tightening pressures precious metals – Sucden Financial - Kitco
Source: Kitco
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DW NOTE
Sucden Financial predicts gold could fall to $3,900 and silver to $50 under Fed tightening pressure. Gold is already at $4,053 — down 23.8% from January's $5,318 high — while silver sits at $53.66, off 53.4% from its yearly peak. The Fed raised reserve balances to 3.90% in September and is expected to hold rates steady this week. If tightening means standing still while the Strait of Hormuz is closed and oil has doubled year-over-year, the word has lost all meaning.