Source: CNBC
“Gold and silver tumbled on Tuesday, as a global sell-off in tech stocks stoked by fears of higher interest rates spilled over into metals. Gold futures fell 1.5% on Tuesday to $4,142 an ounce, while silver futures tumbled over 5% to $61.80 an ounce, before paring some losses to settle around $62.25. Since the outbreak of the U.S.-Iran war on Feb. 28, gold’s reputation as a safe-haven asset in times of turmoil has come under pressure as some of the drivers behind its ascendance have been called into question. An unexpectedly hawkish Fed meeting chaired by Kevin Warsh last week boosted expectations for a year-end interest rate hike, further pressuring gold prices, as the prospect of higher interest rates tend to weigh on the non-yielding precious metal.” (06/23/26)
https://www.cnbc.com/2026/06/23/gold-silver-rate-hike-fears.html