If precious metals continue to take their lead from the currency markets and if the US dollar surges in response to a June or July hike from the Fed, then the price of gold could slump to as low as $1,000 per ounce and silver to as low as $13. But there are a lot of “ifs” here. Other factors could still offset the headwinds from US monetary tightening, including increased appetite for inflation hedges and safe havens, and, in the case of silver, a further recovery in industrial demand.
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