Gold and Silver Slide as Dollar Tests Yearly Highs Post-Hawkish Fed

Gold and silver prices fell Thursday as the U.S. dollar tested yearly highs following the Fed meeting. Spot gold slipped 1% near $4,214.20 an ounce, while silver dropped 3.14% to $65.795. The Fed held rates at 3.50%-3.75% but its projections pointed to a 3.8% median for 2026, keeping the higher-for-longer outlook alive.

U.S. stocks rebounded with the S&P 500 gaining 1.1% to 7,500.58. An interim Hormuz Strait deal eased oil prices and reduced safe-haven bids for metals. The stronger dollar and rising Treasury yields added further pressure on non-yielding assets.

Technically, gold resistance lies at $4,300-$4,320 with support at $4,180-$4,200. Silver faces resistance at $66 and support at $65.