Inflation Worries Pull Gold and Silver Prices Lower
In what is shaping up to be a bad month for precious metals, gold and silver prices have slumped further as concerns increase that the escalating war in the Middle East could lead to a spike in inflation and cause a recession in the global economy. The inflation concerns are keeping precious metals traders worried that central banks could keep rates higher in a bid to keep the lid on inflation. Precious metals are non-yielding, so when interest rates stay elevated, the appetite to buy gold and silver dampens. Because of these inflation worries, precious metal prices have taken a…