Gold softens, silver rebounds as Fed-rate risk limits metals - Kitco AM Report - KITCO
Gold softens, silver rebounds as Fed-rate risk limits metals - Kitco AM Report - KITCO
Source: KITCO
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DW NOTE
The Fed hasn't raised rates yet, but traders are already pricing metals as if it did. Gold is down 24% from January's high not because the hiking cycle started, but because everyone decided to front-run it. Meanwhile silver — which moves with industrial demand, not central bank semaphore — fell twice as hard and is now recovering twice as fast. The divergence tells you which metal was actually responding to supply fundamentals and which was just riding narrative.