US EditionGold Posts Steepest Drop in a Dozen Years
- Gold experienced its steepest one-day drop in over a decade, plummeting 6.3% to about $4,082 per ounce.
- Silver fell 8.7% to approximately $47.89 as the market reacted to declining demand due to trade talks.
- A stronger U.S. dollar contributed to decreased demand for precious metals, prompting traders to lock in profits.
- Despite this pullback, gold remains up nearly 60% this year, with ongoing central bank purchases supporting the market.
15 Articles
15 Articles
Gold and silver prices saw their biggest drop in 12 years on Tuesday, but the commodities had doubled in value in the previous two years.
The calm has returned this Wednesday for gold after hours of storm in the markets of raw materials. The active refuge par excellence recorded on Tuesday its greatest fall in twelve years because of the fear that its price, which shoots around 60% only so far this year, is overrated. The precious metal has come to exceed in the last hours the historical height of the 4,300 euros per ounce, to plummet after more than 6% and to quote slightly below…
There's been the biggest fall in the last 12 years.
Times of India
The Economic TimesGold, silver extend losses after gold’s biggest slump in 12 years
Gold and silver experienced significant plunges from record highs, driven by profit-taking and concerns of market bubbles. Asian stocks fluctuated as Wall Street's rally showed fatigue. Despite recent de-risking, equity exposure remains high, with analysts anticipating healthy pullbacks.
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