Gold Soars $40 as Hike Odds Plummet
Gold prices rose by $40 due to a decrease in odds of an interest rate hike by the Federal Reserve. Phil Streible, at Blue Line Futures, reports that the probability of a hike has dropped to 44%. The increase in gold prices may have implications for silver markets, which are often linked to gold. Some analysts believe that the PCE (Personal Consumption Expenditures) index could spark a rally in silver prices.