While the ebb and flow of action in the US dollar has been buffeting the gold and silver trade this week, minimal weakness in the dollar this morning has not provided visible support.
Clearly, reiterated hawkish commentary from the US Federal Reserve Chairman to a US congressional committee prompted the initial washout in gold prices yesterday.
We should note that the Fed chairman yesterday indicated the Fed was sticking with its 2% inflation target which probably increases the likelihood of more than two 25 basis point rate hikes this year...[MORE]
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