Silver Micro Futures Market News and Commentary
June gold (GCM21) on Wednesday closed down -11.30 (-0.65%), and May silver (SIK21) closed up +0.098 (+0.39%).
Gold and silver prices on Wednesday settled mixed. An increase in global bond yields and hawkish Fed comments weighed on gold prices. Silver gained on a fall in the dollar index Wednesday to a 3-1/2 week low along with an upbeat Fed Beige Book.
Hawkish central bank comments on Wednesday were bearish for gold. Fed Chair Powell said the U.S. economy "is entering a period of quicker economic expansion," but risks from a potential spike in Covid cases remain. Also, Dallas Fed President Kaplan said he sees a Fed rate liftoff sooner than median estimates and that it makes sense for 10-year T-note yields to drift up this year. In addition, ECB Governing Council member Villeroy de Galhauaid said the ECB "could possibly exit the pandemic emergency purchase program by March 2022" while adapting its monetary policy tools to keep supporting the economy aft... Read more