The price of gold and silver slid more than 1% on Thursday, after the Federal Reserve official underscored that there might not be sufficient evidence to support a pause in the Fed's interest rate cycle following recent data releases.
"The data in coming weeks could yet show that it is appropriate to skip a meeting. As of today, though, we aren't there yet," Dallas Federal Reserve President Lorie Logan said.
Gold plunged 1.43% to sell at $1,953.23 per ounce at 11:26 am ET. The price of yellow metal has dropped to levels not seen since early April of this year. The price of silver plummeted 1.58% to trade at $23.37 per ounce, hitting its lowest level since March 30. Platinum dropped 1.03% a minute later, to go at $1,062.90 per ounce. Palladium lost 0.47% selling at $1,467.42 per ounce.
