By Isabel Wang and Myra P. Saefong
Gold, silver and bitcoin are all falling to their lowest levels of the year as a strong dollar and fears of interest-rate hikes heap pressure on the 'debasement trade'
Expectations for interest-rate hikes later this year have heaped more pressure on gold, silver and bitcoin.
The unraveling of the "debasement trade" has kicked into high gear over the past week, and angry investors can blame Federal Reserve Chair Kevin Warsh.
Prices of gold, silver and bitcoin slipped below key psychological levels on Wednesday, with gold falling below $4,000 (GC00) an ounce for the first time in seven months and silver breaking below $60 an ounce (SI00) for the first time in about as long, FactSet data showed. Bitcoin also slipped below $60,000 (BTCUSD) for the first time since late 2024.
