Gold and Silver Prices Decline Amid Oil-Driven Inflation Fears and Market Uncertainty
Gold and silver prices fell significantly, with spot gold dropping around 1-1.4% to approximately $4,586-$4,604 per ounce and spot silver falling about 4% to $80.12 per ounce. The decline is driven by rising energy prices fueling inflation concerns and expectations of prolonged higher interest rates. Market focus also includes geopolitical tensions and supply concerns impacting oil prices, contributing to the precious metals' weekly losses.