US EditionPrecious metals drop amid profit taking; silver, platinum retreat from record highs
Silver fell 4.8% from its all-time high while gold dropped 1.4% as investors booked profits amid easing geopolitical risks and expectations of U.S. interest rate cuts.
- Precious metal prices declined amid profit-taking after hitting record highs earlier in the day, with spot gold down 1.4% and spot silver shedding 4.8%.
- Bullion has rallied around 72% this year due to factors like softer U.S. monetary policy and robust central bank purchases, while outperforming silver has gained 181% driven by industrial and investor demand.
- Traders are pricing in two U.S. rate cuts next year, with analysts citing risks from potential hawkish Federal Reserve policy shifts or large outflows from gold exchange-traded funds .
14 Articles
14 Articles
The silver ounce loses about 10% on Monday, pinned by investors taking profits a few hours after a new metal price record, reached in the wake of the opening of the market.
Gold Pulls Back From Records As Metal Shock Redefines Global Finance - SPDR Gold Shares (ARCA:GLD)
The SPDR Gold Trust (AMEX:GLD) and spot gold prices have surged to fresh all-time highs in recent sessions, with gold breaking above $4,550 last week, before pulling back early Monday due to profit-taking. This historic rally is being driven by a broader metal shock that has erupted across global markets, ignited primarily by an acute supply crunch in Asia. Here’s what investors need to know. SPDR Gold Shares stock is taking a hit today. What’s…
Investors are taking profits and markets are also reacting to signals of a possible move towards a peace agreement in Ukraine
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