We continue to see pressure on gold this morning as expectations of rising rates have been lifting the U.S. Dollar.

We continue to see pressure on gold this morning as expectations of rising rates have been lifting the U.S. Dollar. According to Richard Fisher, the president of the Federal Reserve Bank of Dallas, the asset buying program should be completed by the end of October. James Bullard, president of the Federal Reserve Bank of St. Louis, believes Janet Yellen’s remarks in regards to when we can expect to see rates rise after QE was in line with market expectations. Gold dropped 3.5% after the Fed’s announcement last week as talks about rising rates are bearish for the metal. Silver continues to follow gold’s slump and is currently trading  approximately 1% on the downside this morning. Palladium continues to spike hitting a high of $802 in overnight trading due to supply concerns arousing from the ongoing strike in South Africa and tensions in Ukraine.