Precious Metals Rally as Fed Takes Hawkish Stance
TL;DR Summary
Gold and silver prices rose after the Federal Reserve announced a 0.25% interest rate increase, with April gold up $19.30 at $1,959.30 and May silver up $0.455 at $22.86. The FOMC statement said one more rate hike this year is probable and that the current banking crisis will likely have a negative impact on the U.S. economy. The U.S. and European bank turmoil is still a dark cloud hanging over the marketplace and curtailing risk appetite.
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