Gold sinks to one-year low, silver slips below $50 on inflation concerns
FROM THE WIRE · SEEKINGALPHA.COM
[stack of shiny gold bars 3d illustration] monsitj/iStock via Getty Images Gold futures fell to the lowest in more than a year on Friday and silver slipped below $50/oz for the first time since last November, as wars in the Middle East and Russia-Ukraine push oil prices higher…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishHigher oil prices and inflation worries raise expectations of restrictive rates, weighing on precious metals.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Gold futures fell to the lowest level in more than a year on Friday.
- 02Silver slipped below $50 per ounce for the first time since last November.
- 03Crude oil jumped more than 2% after another tanker attack in the Strait of Hormuz.
- 04The Fed held its benchmark rate at 3.75%-4%, and the ECB also held rates steady this week.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
SPDR Gold Shares355.78 USDMarket closedtoday -3.47%Negative iShares Silver Trust44.60 USDMarket closedtoday -5.67%Negative Gold3,898.90 USDAwaiting tradestoday -3.29%Negative Silver49.28 USDAwaiting tradestoday -5.93%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets