Gold and Silver Prices Fall Amid Locked-In Fed Rate Hike

Gold and silver prices declined Tuesday due to elevated oil costs, a firmer dollar and 10-year Treasury yields near 5%, ahead of the Federal Reserve decision. Gold settled at $4,291.60 per ounce, down 0.43%, while silver closed at $63.236, off 0.4%. Markets price a 90% chance of a 25 basis point rate hike, with Chair Kevin Warsh’s guidance key for future direction.