Gold and Silver Continue to Decline Amid Strength of the Dollar

SadaNews Economy - Gold and silver continued their losses today, Friday, erasing most of the gains they had made during a brief recovery earlier this week due to the global decline in technology company stocks and the rise in the value of the dollar.

Gold fell 0.7% in spot trading to $4840.99 per ounce after a 4% drop yesterday, Thursday.

U.S. gold futures for April delivery dropped 2.8% to $4752.40 per ounce.

Silver declined 3.2% in spot trading to $72.97 per ounce after a 19.1% drop in the previous session.

Earlier today, it fell 10% below the $65 level, marking its lowest level in more than a month and a half.

The MSCI Global Stocks Index dropped more than 1% yesterday amid growing concerns over the high costs associated with the AI boom, while U.S. Treasury bonds saw increased demand following weak labor market data.

Platinum fell 3.6% in spot trading to $1916.45 per ounce after reaching an all-time high of $2918.80 on January 26, while palladium rose 1.3% to $1638.25.