Gold prices fell more than 2% on Friday (October 17th) after hitting a record high above $4,300 an ounce, pressured by a strengthening dollar and comments by U.S. President Donald Trump that "full-scale" tariffs on China would be unsustainable. Spot gold fell 1.7% to $4,251.19 an ounce at 11:37 a.m. ET (15:37 GMT), after hitting an all-time high of $4,378.69 earlier in the session. The precious metal broke through $4,300/ounce for the first time on Thursday, and is expected to post a weekly gain of 5.8%. U.S. gold futures for December delivery fell 0.8% to $4,268.60. The dollar index rose...
Metals are under pressure Friday, with silver falling more than 5%, the most in six months, after a record-breaking run in recent weeks. The pullback follows a rebound in Treasury yields, supported by easing concerns over regional banks and their lending activity -- a shift that's dampening haven demand, as my colleague Tatiana Darie noted earlier. Some of the weakness may also reflect profit taking after an exceptional year for the precious metals complex. Silver has surged 77% year-to-date, while gold is up 60%, leaving traders with ample incentive to lock in gains amid a...
Gold prices (XAU/USD) fell 2% after hitting a record high of $4,379 on Friday (October 17th), falling below $4,250, triggered by comments by US President Donald Trump that triple-digit tariffs against China were unsustainable. At the time of writing, gold bullion prices were hovering around $4,230-$4,240. Gold bullion prices fell below $4,250 as risk appetite returned and US Treasury yields rose. The greenback began to recover, a drag on gold prices. However, the biggest move was seen in US Treasury yields, with the 10-year US Treasury yield rising nearly three basis points. US President...