Gold and Silver Hit 2026 Lows in Late June as Crude Oil Retreats to Pre-War Levels, Sprott's Hemke Says

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According to Craig Hemke at Sprott Money, gold and silver prices likely hit their 2026 lows in late June, with recovery expected as inflation concerns ease. The precious metals' weakness followed the Iran War, which sent crude oil surging from $65 to $110 per barrel. With crude prices now falling back to $68 as hostilities subsided, Hemke expects the energy component of the Fed's preferred inflation measure to decline in the coming months, signaling a shift toward rate cuts rather than hikes. "If I'm correct about this, the gold and silver price lows of late June are very likely to be the price lows of 2026," Hemke wrote.
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