Gold and Silver Prices Today: March 13, 2017

9:09 AM

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March 13, 2017 -- Precious metals were taken to the woodshed in last week’s trading as the selling begun in the prior week escalated. Fears over a rate hike at this week’s Federal Open Market Committee meeting drove some of the selling. The loss of key technical support levels also contributed. Traders responded to the signals by heading for the exits. The CME Group estimates the current probability of a rate hike at 88.6%. What has faded, at least for the moment, is the tough talk from President Donald Trump and some surrogates about the U.S. dollar being too strong. All eyes have returned to watching Janet Yellen. Money Metals President Stefan Gleason If there is good news for metals investors, it is that any rate hike appears to be priced in already – and then some. The move lower in gold and silver prices has been disproportionate to modest moves higher in the U.S. dollar and in bond yields.

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