Gold, silver slide after Fed's 25-bp hike; Warsh hints at further tightening

Gold and silver weakened after the Federal Reserve raised rates by 25bp and Chair Kevin Warsh indicated additional tightening may be needed. Higher policy rates and a more hawkish path tend to lift real yields and the opportunity cost of holding non-yielding metals, pressuring bullion. Near-term pricing is likely to stay sensitive to rate expectations and incoming US inflation and labor-market data.