Zhenjiang Commodity Trading Center: Can the Federal Reserve’s interest rate hikes also drive silver prices?

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The Federal Reserve's interest rate hikes have an impact on the gold market. Will they also naturally affect silver? Experts from the Zhenjiang Commodity Trading Center will help you understand below. The market's expectations for the Federal Reserve's interest rate hikes may have to be slowed down. The Federal Reserve Minutes released this morning Implying that they will not raise interest rates for the time being. This poured cold water on the market's previously optimistic sentiment and allowed gold to temporarily recover. The minutes of the meeting also showed that Fed staff proposed multiple ways to raise short-term interest rates, but also emphasized that the discussion of ways to raise interest rates was just a prudent plan and did not imply that interest rates would be raised in the short term.
Inflation expectations are moderate, and many members believe that the degree of slack in the job market may be more serious than reflected in the unemployment rate, as evidenced by sluggish wage growth.
Federal Reserve
In addition, the Federal Reserve will include consultations on how to communicate with the market and regulate its policy prospects, which may mean that it may be difficult to change the Fed's monetary policy in the short term.
This undoubtedly hinted to the market that cuts will be carried out step by step, and interest rate hikes will not be considered for the time being. It also gave the international gold price some breathing time. After the meeting minutes were released, gold soared against the US dollar. But it is still below USD/Ounce and still fluctuating.
Some organizations have expressed the same view on this. TD Securities said spot gold prices have averaged monthly prices of US$/oz, quarterly average prices of US$/oz, and year-to-date average prices of US$/oz. This means that the gold market is continuing to consolidate.
It can be said that the Federal Reserve minutes are not as bland as water, and it is also expected by the market, because the market itself expects that the Federal Reserve will not raise interest rates soon, and this has been acquiesced in this minutes.
Looking forward to the market outlook, today's market will usher in a wave of data, and the more important event for the gold market is still in the United States. Initial filings are still the focus of the market, and then other U.S. data may provide guidance for gold. After all, the recovery of the U.S. economy will affect the Federal Reserve's policy formulation, which will have a huge impact on the gold market.