Gold and Silver Price Today: Gold Falls to $4,451, Silver Slides as Oil Spike Revives Rate-Hike Fears
Spot gold fell 1.2% to $4,451.47 an ounce by 0811 GMT, while silver dropped 2.7% to $69.36. Brent crude rose above $104 a barrel as hopes for a ceasefire faded, fueling inflation concerns and pushing traders to expect higher interest rates. Markets now price in a 37% chance of a U.S. rate hike by December, with almost no chance of a cut. Precious metals saw broad declines across gold, silver, platinum, and palladium.