BlackMask Market News and Commentary
Silver sinks 5% as woes about Fed policy grow

The price of white metal tumbled as much as 5% on Wednesday as a hotter-than-expected inflation report dimmed investors' appetite for safe-haven assets and raised prospects for an October rate hike. The annual consumer inflation jumped to 3.7% last month, with the rising costs of fuel and oil driving the increase. Silver plunged 5.19% to sell at $56.11 per ounce at 11:17 am ET. The price of gold declined 1.75% to $4,088.23 per ounce, palladium dropped 2.22% to $1,089.51 per ounce, and platinum fell 3.44% to $1,611.21 per ounce.

NN: I have been clear here: I have a standing reco to sell gold and silver. Silver that was at $121 is now Under $55 on its way to $10. Gold that soared to $5,600 is now trying to hold above $4,000. I see gold dropping to under $1,000. In a deflation precious metals get killed.