Gold and silver are both trading lower today

Gold and silver are both trading lower this morning. Gold has slipped roughly 2-3%, dipping below $4,200/oz, its lowest level in about seven weeks. Silver is down even more, off nearly 5% to around $61-62/oz. 

A couple of factors are driving the pullback:

• Rate expectations: Rising Treasury yields reflect growing bets that the Fed will keep tightening to fight inflation, which tends to pressure metals.
• Oil and geopolitics: Stalled US-Iran negotiations have kept crude oil prices elevated, adding to broader market uncertainty.

Pullbacks like this are a normal part of the cycle and don't change the long-term case for holding physical metal. If you've been considering adding to your position, moves like this are often when experienced buyers pay attention.

If you are new or perhaps wanting to add to your portfolio, please call our trading desk.

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