Gold and silver are under pressure again today, as rates in the US continue to rise, while the dollar index trends higher once again.
We continue to see a rather direct inverse correlation between the metals and the dollar, with the metals receiving a bid earlier this year while the dollar sold off following its 2022 rally, as investors anticipated an end to the Federal Reserve’s rate hiking program. Yet as the rates have continued higher for longer, and the dollar decline has reversed, once again pressuring gold and silver.
In today’s show John Lee of Silver Elephant talks about this trend, and also his forecast from back in May that we would continue to see rates increase. He looks at the levels we’re at now, and talks about where he sees gold and silver moving to as we head towards the end of the year.
John also offers his opinion on the activity out of the BRICS, and the de-dollarization trend that we’re seeing around the world. So to find out more about the latest trends in the dollar, metals, and interest rate markets, click to watch this video now!