Gold and silver extended their downside moves overnight.

Fed Governor Michelle Bowman stated that the F#ed will probably need to raise interest rates further if inflation stays high, adding that key data so far this month has not convinced her that price pressures are receding.

This further diminished any optimism remaining from the lower-than-expected PPI data yesterday.

The next meeting between President Biden and Congressional leaders regarding the debt ceiling has been postponed until next week, and this news could provide some safe-haven support to gold...[MORE]

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