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COMEX gold drops 0.94% and silver slides 1.74% after Fed holds rates at 3.5%-3.75%

The Federal Reserve on June 18 kept the federal funds rate unchanged at 3.5%-3.75% for a fourth straight meeting, but its dot plot pointed to some officials favoring a hike before any cuts, reinforcing “higher for longer” expectations. COMEX gold fell 0.94% to $4,340.40 an ounce, while COMEX silver slid 1.74% to $69.535 an ounce. A stronger U.S. dollar and rising Treasury yields added pressure on precious metals.
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