Gold and silver prices declined
New York, February 5, 2017 – Gold and silver prices witnessed a sharp decline today, Thursday, in light of a widespread wave of selling in the market and the rise of the dollar to its highest level in nearly two weeks.
Gold fell in instant transactions by 1.7% to $4,876.12 per ounce by 0402 GMT, falling from its highest level in about a week, which it recorded earlier in the session.
US gold futures for April delivery fell 1.1% to $4,896.30 an ounce.
The dollar rose to its highest level in nearly two weeks today, Thursday.
Silver fell in spot transactions by 12.4% to $77.09 per ounce, while silver had reached a record level last week at $121.64.
Platinum also fell in spot transactions by 7.7% to $2,056.64 per ounce after recording its highest level ever at $2,918.80 on January 26, and palladium fell approximately 5% to $1,689.25.
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