Gold falls below $3,900, silver tumbles as Wall Street selloff triggers liquidation - Kitco PM Report
Gold and silver prices experienced a sharp decline as a technology-led selloff on Wall Street triggered widespread liquidation. Despite rising crude oil prices and geopolitical tensions, investors are reacting to persistent inflation and expectations of restrictive Federal Reserve policies.
Why it matters
The volatility in precious metals reflects broader market anxiety regarding the intersection of economic growth, inflation, and potential financial instability.
(Kitco NewsWire) - Spot gold and silver prices were sharply lower in late U.S. trading Friday, as a technology-led equity market selloff intensified liquidation pressure across precious metals, offsetting the support normally provided by falling Treasury yields and heightened geopolitical uncertainty. Crude oil prices climbed more than 2% following another tanker attack in the Strait of Hormuz, adding to inflation concerns and expectations that Federal Reserve monetary policy will remain restrictive. Spot gold was trading near $3,879.90 an ounce, down $141.60, or 3.52%, while spot silver was trading near $49.015, down $3.150, or 6.06%, on the session.
Also covering this story
3 other newsrooms covered this event. We read each version separately.
Gold sinks to one-year low, silver slips below $50 on inflation concerns, tech selloff - Seeking Alpha
International Gold Price Falls Below $3,900 Mark; Chinese Jewelry Prices Retreat Nearly 550 Yuan per Gram This Year
Gold prices plunge to one-year low below $3,900 as higher oil prices fuel fears of more pain ahead - Kitco
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