Gold and silver prices plunged sharply in the international market on Monday, as a strong US dollar and broad market selloffs pressured global precious metal prices.
Investors reacted to rising bond yields and risk-off sentiment in equities, prompting a shift away from safe-haven assets like gold and silver.
Current Market Rates
- Gold: Down 2.1% to $1,960 per ounce
- Silver: Down 3.5% to $23.80 per ounce
Market analysts say that currency strength, macroeconomic data, and investor sentiment are key factors driving the recent decline.
Factors Behind the Decline
Several elements contributed to the drop:
- Firm US Dollar: A stronger dollar reduces demand for dollar-denominated metals.
- Equity Market Selloff: Global stock selloffs triggered risk-averse behavior.
- Rising Bond Yields: Higher yields attract investors away from non-yielding assets like gold.
Moreover, inflation expectations and geopolitical developments continue to influence precious metal prices.
Outlook
Experts expect gold and silver to remain volatile in the short term as markets adjust to currency fluctuations, equity trends, and macroeconomic data.
Investors are advised to monitor market movements closely and adopt a cautious approach during the current period of uncertainty.
Overall, the international market decline highlights the ongoing sensitivity of precious metals to dollar strength and global risk sentiment.
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