Gold, silver sink on bearish outside markets, hawkish Fed-speak

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The gold and silver markets extended losses Thursday morning after two Federal Reserve officials sounded a still aggressively hawkish tone on U.S. monetary policy. St. Louis Fed President James Bullard said the central bank needs to raise interest rates higher to restrict the economy in order to bring down problematic inflation. Bullard said he's targeting a minimum of another 125 basis points in rate hikes, which would bring the Fed funds target range to 5.00-5.25%.

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