Metal Markets Falter as Gold and Silver Prices Slip
Gold futures on the COMEX closed 1.4% lower on Friday, marking a second decline in three trading sessions, while silver slid 2.5%, extending a three‑of‑four‑day losing streak. Analysts point to muted industrial demand and a stronger U.S. dollar as the primary catalysts, with Reuters noting that elevated inventory levels continued to weigh on spot prices.
Key Takeaways
- Gold down 1.4%: Second drop in three sessions, driven by weak industrial buying.
- Silver down 2.5%: Extends a three‑of‑four‑day decline, reflecting broader metal weakness.
- Stronger U.S. dollar: Currency strength erodes the dollar‑denominated price of precious metals.
- Elevated inventories: High stockpiles reported by Reuters add downward pressure on spot prices.
- Industrial demand lagging: Reduced purchasing from manufacturing sectors curtails price support.
- Market sentiment cautious: Traders remain wary amid mixed macroeconomic signals.
