Gold, Silver Regained Ground

June is off to a better start for gold and silver.

May had been a lousy month for both precious metals, but they have "solidly" regained some ground in spot pricing yesterday.

Kitco News reported:

(Kitco News) - Gold and silver prices are solidly higher in midday U.S. trading Thursday, amid a big U.S. economic data dump that culminates with Friday morning's U.S. jobs report. The precious metals are boosted today by ideas the Federal Reserve may pause in its interest-rate-hiking cycle. August gold was last up $15.80 at $1,997.90 and July silver was up $0.403 at $23.985.

The Wall Street Journal reported today the Fed is likely to pause in its rate-hiking cycle at the June FOMC meeting, before raising rates again later this summer. That's a shift from the consensus marketplace belief just recently that the Fed would again raise rates at the June FOMC meeting. However, a "sizzling jobs report" on Friday would throw cold water on the Fed pause, said the Journal report. 

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