Gold continues to fall under selling pressure amid “severe bleeding” in silver

Gold prices fell today, Thursday, and silver prices fell by more than 13%, as traders turned to collect their profits after a two-day rise, while the rise in the dollar and the decline in geopolitical tensions increased pressure on non-yielding assets.The price of gold in spot transactions increased by 3% to $4,817 per ounce by 13:00 GMT, while the price of Silver13.5% to $76 an ounce.

Carsten Minke, an analyst at the bank, said "Julius Baer": "What we are witnessing is an after-effect of the volatility we have witnessed since last Friday. The market has not stabilized yet, which is why we are witnessing another wave of selling following the recovery of the past two days, and volatility will continue in the near term."

Meanwhile, The US dollar reached its highest level in two weeks on Thursday, adding to broader selling in markets, as global stocks fell, and commodity prices fell, from crude oil to copper, as global tensions eased.

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