The Voss Eagles say they're raising interest rates and they're down to $120 per day in cash

On 29 August, following a speech by Federal Reserve Chairman Walsh on inflationary pressures, the market's interest rate hikes rose significantly, followed by the strengthening of the United States dollar and a sharp fall in the price of precious metals such as gold. As at the time of the release, there had been a 2.6 per cent drop in spot gold days, a drop of more than $120 and a report of $4480 per ounce, which once touched the low point of $4464 per week. According to the independent analyst Tai Wong: “President Walsh made it clear that there had not been a substantial slowdown in inflation and stressed that the Fed `will still have to do', a statement that led to sharp sales of gold markets. While this may still be a `light thunder' communication strategy, it is sufficient to allow the market to see the September meeting as a half-heavy situation with interest rate hikes and the probability of a moratorium.” The case of Walsh is one of the closest public statements so far to recognizing that further interest rates may be needed to ease price pressures. In his speech, he noted that if policymakers were not convinced that basic inflation was steadily returning to the target level of 2 per cent, the Fed “had to do”. As a result, traders rapidly scaled up the interest rate hike in September. For other precious metals, there was a decrease of 3.63 per cent in real-time silver and $66.77 per ounce; a decline of 0.27 per cent in real-time platinum, to $1841.9; and a contraction to 5.05 per cent in real-time gold, to $1418.3。