Gold and Silver Decline After Fed Signals Further Tightening

Gold and silver prices fell in late trading after the Federal Reserve raised rates by 25 basis points to 3.75-4.00%, the first hike since 2023. Chair Kevin Warsh signaled more tightening may be needed as 16 of 18 officials expect at least one additional increase by year-end. Spot gold slipped 0.72% to $4,261.80 an ounce while silver dropped 1.16% to $62.82.