Gold drops 3%, silver plunges 4% ⭕️

The prices of precious metals continued to decline on Tuesday, with gold sinking 3% and silver shedding 4%, following the latest United States inflation report. The digits came in higher than anticipated, raising concerns about the next Federal Reserve steps.Both Fed Bank of Dallas President Lorie Logan and Fed Governor Christopher Waller advocated for more interest rate hikes in their recent comments.Gold tanked 3% at 12:24 pm ET, going for $4,018.08 per ounce. At the same time, silver plummeted 4.03%, going for $51.21 per ounce. At 12:25 pm ET, platinum lost 2.20%, selling at 1,538.51 per ounce, and palladium fell 0.77%, going for $1,010.99 per ounce.