Gold and silver steady as Kevin Warsh's Fed weighs rates
Gold and silver prices barely budged on Wednesday as everyone waits to see what the US Federal Reserve will do next.
With new chairman Kevin Warsh overseeing the policy decision, policymakers are widely expected to keep interest rates steady for now, investors are watching inflation closely, especially with energy costs up due to Middle East tensions.
There's also a U.S.-Iran deal on the horizon (June 19) that could help cool things off.
US and India metals tick up
Gold in the US ticked up $9.30 to hit $4,369 per ounce, and silver stayed above $70 after a small bump.
In India, gold rose ₹511 to ₹153,602 per 10gm, and silver jumped ₹1,393 to ₹251,498 per kilogram.
Still, both metals are trading well below where they were before recent conflicts—gold is down 17.5% and silver is nearly 27%.
Fed, ECB moves could affect metals
Markets think the Fed might hike rates by early 2027 if inflation sticks around.
Over in Europe, the ECB has already raised rates because of similar worries tied to Middle East unrest.
All these moves could shake up gold and silver prices soon, so if you're into investing or just curious about global trends, it's worth keeping an eye on what happens next!