Gold achieved another all-time high as silver surpassed highs not seen since 2013. The precious metals eased thereafter as Fed officials distance themselves from rate cuts
Atlanta Fed President Raphael Bostic recounted the hot inflationary pressures of Q1 reiterating that there is still some work to do, but ultimately he sees inflation continuing to ease into 2025. Governor Michael Barr drove home the same points while Governor Philip Jefferson commented that the softer inflation print in April is encouraging.
The 161.8% Fib level at $2360 marks the next level of support, followed by the upper trendline of the former channel.Discover the power of crowd mentality. Download our free sentiment guide to decipher how shifts in gold's positioning can act as key indicators for upcoming price movements.Silver on the other hand, appears to be benefitting both as a precious metal and industrial metal.
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