Silver Holds Firm as Gold Weakens Under Fed Rate Hike Pressures

After North American trading on Tuesday, gold prices slipped while silver advanced. Stronger U.S. employment figures lifted bond yields, keeping expectations of Federal Reserve policy tightening in focus for metals traders. Gold hovered around 4006.70 dollars per ounce, a 0.22 percent decline, whereas silver reached about 58.47 dollars, gaining half a percent. The Federal Open Market Committee maintained its interest rate target between 3.50 and 3.75 percent. Updated projections pointed to higher rates and inflation through 2026. May job openings exceeded forecasts at 7.594 million, supporting the 10-year Treasury yield near 4.47 percent. Crude oil markets showed mixed results with WTI near 70.03 dollars a barrel and Brent at 73.45, amid stabilizing flows through the Strait of Hormuz despite lingering geopolitical tensions. The dollar index stood at 101.17. Technically, gold resistance lies at 4063-4096 dollars, with support below 3959. Silver eyes 61-62 dollars upside, vulnerable under 57 dollars.