SLV - Gold silver dip into the red as risk-on sentiment rises

Gold surrenders earlier gains as the dollar slips while stocks and Treasury yields advance, as investors maintain a risk-on mood across markets on optimism that trouble China Evergrande Group can be contained. Retreating further from initial post-FOMC gains, December Comex gold (XAUUSD:CUR) -1.6% to $1,750.10/oz, while December silver (XAGUSD:CUR) -1% to $22.68/oz. Gold mining shares are turning red too, with the biggest losers including GOLD -1.6%, KGC -2.3%, AUY -1.4%, AEM -1.5%, EGO -3.4%, IAG -2%, GFI -2.8%, HMY -3%, AU -2.2%. Losses among silver miners are even worse: EXK -3.4%, AG -3.1%, FSM -3.3%, HL -2.7%, CDE -2.5%, PAAS -2.6%. ETFs: GLD, GDX, GDXJ, NUGT, SLV, SIL The Fed yesterday set the table for future tapering of its bond-buying program and an increase in its key interest rate in 2022. "Fed Chairman Powell at his press conference sounded upbeat on U.S. economic and jobs-growth prospects," Kitco senior analyst Jim Wyckoff

For further details see:

Gold, silver dip into the red as risk-on sentiment rises