Gold and Silver Prices Tumble as High Interest Rates and Oil Costs Spook Investors
Key Points: Gold and silver futures dropped significantly on Tuesday, losing roughly 2% and 2.5% of their respective market value. Investors dumped precious metals after realizing the Federal Reserve plans to keep interest rates elevated for longer. Global oil prices, hovering near $104 per barrel, continue to drive up inflation, forcing policymakers to pause any planned rate cuts. The ongoing war and diplomatic standoff between...