Gold futures markets fell last night (Dec. 14) after the release of PPI numbers. In addition, the markets now fear that the U.S. Federal Reserve (Fed) will accelerate the interest rate hikes.
- Gold contract was down $16, or 0.89%, at $1,772.3 per ounce.
- Silver was down 40.4 cents, or 1.81%, at $21.924 an ounce.
- The platinum contract was down $13.7, or 1.48%, at $910.9 per ounce.
- Palladium fell $52, or 3.1%, at $1,622.70 an ounce.
The Department of Labor reported that the PPI, rose 9.6% year-on-year in November. Which is the highest level since November 2010, after rising 8.8% in October.
Goldman Sachs and Pacific Investment Management (PIMCO) analysts projected an increase in the Fed’s QE limit to $30 billion per month, doubling from $15 billion per month. Doing so would include a rate hike in June 2022.
Today, the Fed Committee will announce the results of the monetary policy meeting.
The Spot Market is Open
Wednesday, December 15, 2021
| Metals Updated at | UDS Bid/Ask | Ounce Change | Low/High |
| Gold 09.30 | 1,772.00 1,773.00 | +0.80 0.05% | 1,771.20 1,775.00 |
| Silver 09.30 | 21.93 22.03 | 0.00 0.00% | 21.90 22.15 |
| Platinum 09.30 | 917.00 927.00 | -1.00 -0.11% | 916.00 931.00 |
| Palladium 09.30 | 1,570.00 1,720.00 | +6.00 0.38% | 1,562.00 1,724.00 |
| Rhodium 06.00 | 12,800.00 14,800.00 | 0.00 0.00% | 12,800.00 14,800.00 |