Precious Metals Experience Sharp Declines Amid Hawkish Federal Reserve Signals

On November 14, 2025, the precious metals market witnessed significant downturns, with gold, silver, platinum, and palladium all registering notable price declines. This movement was primarily influenced by recent hawkish statements from U.S. Federal Reserve officials, which tempered expectations for imminent interest rate cuts.

Market Performance Overview

As of November 14, 2025, the SPDR Gold Shares ETF (GLD) closed at $375.96, down 1.81% from the previous close. The iShares Silver Trust (SLV) ended the day at $45.96, a decrease of 3.10%. The abrdn Physical Platinum Shares ETF (PPLT) and abrdn Physical Palladium Shares ETF (PALL) also saw declines, closing at $140.45 (-2.26%) and $127.90 (-1.57%), respectively.

Macroeconomic Drivers

The primary catalyst for this sell-off was a series of hawkish comments from Federal Reserve officials, which dampened market expectations for imminent interest rate cuts. This shift in rhetoric led to a significant reduction in the perceived probability of a December rate cut, with CME Group's FedWatch tool showing a drop from 63% on November 12 to around 50-51% by November 14. Source

Technical Signals

From a technical perspective, the sharp declines have led to breaches of key support levels across the precious metals spectrum. Gold's drop below the $4,100 mark is particularly noteworthy, as this level had previously acted as a strong support. Similarly, silver's fall below $50 per ounce raises concerns about potential further downside if bearish momentum persists.

Investor Sentiment

Investor sentiment has shifted towards caution, with many opting to liquidate positions in non-yielding assets like precious metals in favor of instruments that may benefit from a higher interest rate environment. The strengthening U.S. dollar, bolstered by the Fed's stance, has further reduced the appeal of gold and silver as safe-haven assets.

Conclusion

The recent downturn in precious metals underscores the market's sensitivity to Federal Reserve communications and broader macroeconomic indicators. Investors are advised to monitor upcoming economic data releases and Fed statements closely, as these will likely provide further direction for precious metals prices in the near term.