Gold Falls More Than 1%, Silver Drops 3%
Forecast Trend Report by Period
Gold and silver prices fell sharply, pressured by easing demand for haven assets and profit-taking.
Walter Bloomberg reported on June 9 that spot gold fell more than 1% to $4,277.99 an ounce.
Spot silver slid 3% to $66.06 an ounce.
Gold and silver had recently rallied amid geopolitical tensions in the Middle East and inflation concerns. Prices came under pressure as risk appetite improved and some investors took profits.
Expectations for progress in US-Iran talks and the possibility of easing tensions in the Middle East also weakened demand for safe-haven assets.
Investors are now watching the Federal Reserve's policy outlook, US Treasury yields and geopolitical risks as the main drivers for gold and silver prices.
