High interest rate expectations triggered a sell-off in precious metals! Silver plunged 9% in a single day, breaking below the $80 mark.

① Gold prices fell to a more-than-one-week low on Friday, with silver prices plunging below the $80 per ounce threshold; ② The yield on the US 10-year Treasury bond and the US dollar both strengthened. Inflation concerns fueled by escalating conflicts in the Middle East have reinforced market expectations for higher interest rates, weighing down precious metal prices.

cls.cn03:38

What happened to cause significant volatility in the Japanese and Korean stock markets as well as in gold and silver?

Analysts pointed out that two major factors triggered the global market decline.

Securities DailyMay 15 16:47

Express News | The U.S. PPI recorded its largest increase since 2022, driven by rising energy costs.

BreakingsMay 13 21:13

India significantly raised the import tariffs on gold and silver to 15% in a bid to curb imports and strengthen the rupee.

India announced an increase in import duties on gold and silver from 6% to 15%. Prime Minister Modi appealed to the public to avoid purchasing gold for a year to alleviate the trade deficit and help protect foreign exchange reserves. As the world's second-largest consumer of precious metals, industry insiders anticipate that the significant rise in tariffs will lead to a further decline in compliant imports, directly suppressing physical gold demand.

wallstreetcnMay 13 06:06

Express News | India raises basic customs duty on gold and silver imports from 5% to 10%.

BreakingsMay 13 03:27

What does the April CPI imply? 'New Fed Wire': Rate cuts are no longer a 2026 story, and Kevin Warsh is in trouble.

Nick Timiraos believes that the April CPI will not alter the fundamental stance of hawks or doves within the Federal Reserve, but if subsequent data continues in this vein, the doves will find themselves in a more difficult position. Future discussions within the Fed will largely hinge on whether fuel and commodity shipments in the Persian Gulf can return to normal. Should disruptions persist, it will become increasingly challenging to marginalize the topic of interest rate hikes in internal deliberations. Analysts note that traders are increasingly inclined to believe that the Fed may not cut interest rates at all this year, and if they do, such action is more likely to be delayed until later in the year. Some institutions have begun discussing the potential need for further rate hikes.

wallstreetcnMay 13 03:06