Gold and silver rise sharply on Thursday, with gold on track for its biggest one-day gain since mid-June and silver headed for its best day since March 1.
Gold and silver rose sharply on Thursday, with gold on track for its biggest one-day gain since mid-June and silver headed for its best day since March 1.
Price action What analysts are saying Gold and silver are both benefiting from Federal Reserve Chairman Jerome Powell’s comment on Wednesday that the next interest rate hike in September would depend on the tenor of upcoming U.S. economic data. Traders have interpreted Powell’s vague guidance as opening the door to a rate hike of just 50 basis points in September after the Fed opted for 75 basis point hikes in June and July.
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