Gold, Silver Tumble as Global Rate Fears Trigger Sharp Precious-Metals Correction
6 Articles
6 Articles
Sawalev's price of precious metals declined sharply during today's Monday trades, with gold falling by about 3% to levels close to US$ 4,165 per ounce, while silver fell by 5%. The instant circulation data show that gold touched levels close to US$ 157.4 per ounce, down by 3%, while silver declined to about US$ 61.08 per ounce, down by about 5.02%.
The price of gold declined during Monday's dealings, reaching its lowest level in seven weeks, with oil rising, which reinforced fears about inflation and supported market expectations about the Fed's tendency to continue raising interest rates. Tim Waterer, the leading market analyst of .K.M.C. Want, for Reuters, said that the rise in oil and the return of American bonds [...] was a drop in gold prices by more than 3%.
Coverage Details
Bias Distribution
- 100% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
