Gold and Silver Experience Sharp Decline: Critical US Data Shakes the Market.
4 Articles
4 Articles
Gold and silver prices fell sharply after US producer inflation exceeded expectations. Markets are now focused on consumer inflation data and the Fed's interest rate decision, while high inflation and a strong dollar are increasing pressure on precious metals.
The producer price index in the United States rose by 0.4% on a monthly basis. Gold prices plummeted after the data was released. Here are the latest figures...
Economy - Gold prices fell sharply in the US as producer inflation for August exceeded expectations, rising to 5.4 per cent. Ounces of gold fell to $4,328 and ounces of gold to 6,742 pounds, while eyes were turned to the Fed's interest rate decision.
Gold and silver prices continued to fall sharply during US trading (night of September 10) after the US released positive economic data, which will impact the Fed's interest rates in the coming days.
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