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Precious metals faced a sell-off on Thursday. iShares Silver Trust (AMEX:SLV) and other silver assets plummeted as investors reacted to a hawkish shift from global central banks.
Silver dropped as low as 10% toward $65 per ounce, marking its lowest level since mid-December, according to data from Trading Economics.
Central Banks Turn Hawkish
The Federal Reserve, European Central Bank and Bank of England held rates steady this week. However, they adopted aggressive tones regarding inflation risks.
U.S. Fed Chair Jerome Powell noted a hike remains possible, though unlikely for now. This …
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