Decline in Gold and Silver Prices, Rise in Global Oil

SadaNews Economy - Gold prices recorded a decline today, Friday, supported by the strength of the dollar and following data that showed a lower-than-expected rise in inflation in the United States.

Gold fell in immediate transactions by 0.3% to $4319.07 per ounce, while U.S. futures contracts for gold dropped by 0.4% to $4346.70.

Silver also declined in immediate transactions by 1% to $64.79 per ounce, after reaching an all-time high of $66.88 on Wednesday.

Silver has surged by 125% since the beginning of the year to date, outperforming gold, which recorded a yearly increase of 65%.

The dollar remained stable near its highest levels in a week, making the precious metal priced in it more expensive for holders of other currencies.

Oil recorded a slight increase at the end of trading yesterday.

Brent crude futures rose by (14) cents, equivalent to (0.2%), reaching (59.82) dollars per barrel.

West Texas Intermediate crude also increased by (21) cents, equivalent to (0.4%), reaching (56.15) dollars per barrel at settlement.