Gold declines and silver loses 12% amid a wave of selling and the rise of the dollar
Gold and silver prices fell sharply today, Thursday, following a widespread sell-off in the market, as the dollar rose to its highest level in nearly two weeks, and trade tensions between the United States and China eased, increasing pressure on the precious metals.
And The price of gold in spot transactions rose 1.7%, reaching $4,876.12 per ounce by 04:02 GMT, retreating from its highest level in nearly a week recorded earlier in the session.
Gold futures in the United States (April delivery) fell 1.1% to $4,896.30 per ounce.
And in the white metal, the price of Silver12.4% to $77.09 an ounce, down from its historic peak of $121.64 last week.
Meanwhile, The US dollar reached its highest level in nearly two weeks on Thursday, making gold priced in dollars more expensive for holders of other currencies.
Tim Waterer, senior trading analyst at "KMC": "The dollar has recovered with the nomination of Kevin Warsh to lead the central bank, and after the currency was able to continue its rise, traders are now more cautious about gold in light of the recent sharp fluctuations."
On the geopolitical level, Iran and the United States agreed to hold talks in the Sultanate of Oman on Friday, according to what officials from both sides told the agency. "Reuters".
US President, Donald Trump, said after what he described as talks "Very positive" With his Chinese counterpart Xi Jinping on Wednesday, China is considering buying more American soybeans.
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