Sharp Decline in Precious Metals Prices
Recently, spot gold and silver prices showed a significant downward trend amid market volatility. According to the latest data, spot gold price fell nearly $10, currently at $4,988 per ounce, down 0.57% for the day. Spot silver also faced selling pressure, with the price dropping up to $0.4, currently trading at $76.27 per ounce, slightly up 0.1% for the day.
Market Sentiment Remains Cautious
This price drop was mainly driven by multiple factors, including reduced risk aversion and fluctuations in the US dollar exchange rate. Investors remain vigilant about the macroeconomic outlook, with some capital moving out of the precious metals market into more liquid assets.
Outlook Analysis
From a technical perspective, both gold and silver prices have shown signs of short-term correction. Analysts note that despite the current downward pressure, fundamental support factors remain in place. Investors are advised to monitor key support levels and wait for further clarity on market direction.
- Current gold price: $4,988 per ounce
- Daily decline: 0.57%
- Current silver price: $76.27 per ounce
- Daily increase: 0.1%