Week in Metals: Gold and Silver Suffer Brutal Rout
Gold plunged 8.4% and silver cratered 13.2% in the worst week for precious metals since 2011, driven by hawkish Fed signals and massive ETF outflows.
Our weekly summary of the biggest precious metals stories, price movements, and what to watch in the week ahead.
7 articles
Gold plunged 8.4% and silver cratered 13.2% in the worst week for precious metals since 2011, driven by hawkish Fed signals and massive ETF outflows.
Gold and silver posted weekly losses as a surging dollar and fading rate-cut expectations outweighed safe-haven demand from the Iran crisis.
Gold shed 2.56% as a geopolitical spike reversed and Asian demand fractured, though central bank buying and weak jobs data kept a floor under $5,000.
US-Israel military strikes on Iran drove gold near $5,300 and silver past $93, with both metals posting sharp weekly gains on surging safe-haven demand.
Gold surged 4% past the $5,000 milestone while silver stole the show with a 12% weekly rally, compressing the gold/silver ratio to 61.7.
Gold edged higher past $5,000 while silver suffered a brutal 4.6% weekly decline, widening the performance gap between the two metals.
Gold consolidated above $5,000 while silver retreated 5.5% amid questions about Chinese demand and valuation concerns.