Gold Futures Fall 1.7%, Silver Drops Over 2% on Friday as Fed Signals Hawkish Stance

According to China Central Television, gold and silver futures declined on Friday, June 20, as a stronger U.S. dollar pressured non-interest-bearing assets. August gold futures fell 1.7%, while July silver futures dropped over 2% on the New York Mercantile Exchange.

On a weekly basis, gold futures rose 0.17% due to stronger-than-expected hawkish signals from the Federal Reserve. Silver futures, however, fell 2.43% for the week, facing dual pressure from rising rate expectations and weakening global industrial demand.