Gold and Silver Decline Amid Lingering Hawkish Fed Pressure

In early US trading spot gold fell 0.29% to near $4,244.60 an ounce while silver slipped 1.36% to $66.995, pressured by the Fed’s hawkish hold at 3.50-3.75%. Nine of eighteen officials now project a rate hike this year; Chair Kevin Warsh skipped his dot plot and launched reviews of communication, balance-sheet and inflation frameworks. Treasury yields climbed, the two-year hitting its highest level since February and the ten-year reaching the mid-4.4% zone, while the dollar strengthened.