"After a record-setting rally over the past week, commodities traders went all in on a massive gold sell-off on Tuesday. The price of the precious metal fell down to $4,118 an ounce, after a high of $4,381.52 an ounce just one day before. Meanwhile, silver is trading at $48.76 an ounce in midday trading at the time of this writing, down from $54.35 last week."
"For some context, that means gold prices have decreased the most they have in four years, and silver is seeing its biggest drop since early 2021, per Bloomberg. This is a stunning reversal from last week, which saw gold and silver prices spiking as investors sought out a "safe haven" from more volatility in the stock market due to overall economic uncertainty."
Gold plunged sharply after a weeklong rally, falling from $4,381.52 to as low as $4,118 per ounce, with live spot near $4,133.13 and silver retreating to about $48.76 per ounce from $54.35. The price declines represent the largest drop for gold in four years and the biggest fall for silver since early 2021. Investors had sought safe-haven metals amid stock-market volatility, but recent market forces reversed that move. Analysts attribute the sell-off to a mix of factors including a prolonged U.S. government shutdown, U.S.–China trade tensions and threats of higher tariffs, and expectations of softer US CPI data.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]