Gold and silver prices retreated on Wednesday, weighed down by higher U.S. Treasury yields. Precious metals could remain biased to the downside if rates extend their upward trek.

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The U.S. dollar wobbled on Wednesday, despite a rise in U.S. Treasury yields, but its outlook is turning more positive given shifting monetary policy expectations.

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The BoC have followed the RBA and surprised with a 25bps hike. The Bank did remove language hinting at further hikes if needed. Is it the end of the hiking cycle from the BoC?

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Chinese exports unexpectedly weakened in May hitting the world’s 2nd largest economies’ trade balance hard. With Chinese growth struggling, copper may find it difficult to push ahead in the coming weeks.

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Gold prices have partially recovered after Friday’s NFP inspired decline but struggle for a clear directional bias. Longer-term trend remains bullish ahead of the FOMC

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