Gold Breaks Below $3,900, Silver Plunges as Wall Street Selloff Forces Liquidation — Kitco PM Report
Spot gold and silver prices closed sharply lower in late U.S. trading Friday as a technology-led equity selloff swept Wall Street, forcing liquidation across precious metals and overwhelming the support that falling Treasury yields and rising geopolitical risk would normally provide. Crude oil rose more than 2% after another tanker attack in the Strait of Hormuz, feeding inflation worries and expectations that Federal Reserve policy will stay restrictive. Spot gold traded near $3,879.90 an ounce, down $141.60, or 3.52%, on the session. Spot silver traded near $49.015, down $3.150, or 6.06%.
