5 hours agoThe price of gold and silver has dropped significantly, where did this decline come from?
Periskopi(6 months ago)
(6 months ago)Gold achieved a new record Thursday at $5600 per ounce. Silver was traded at $120 per ounce. Suddenly, precious metal prices began to fall. By Friday night, gold already cost $470 per ounce. Gold fever reached a new record in early 2026, with [...]
Suddenly, precious metal prices began to fall. By Friday night, gold already cost $470 per ounce.
The gold fever reached a new record in early 2026, with prices reaching a record earlier this week.
Worldwide, people lined up to sell gold notes they already had or to buy.
Consumers went to local retailers to earn money from their gold jewelry.
Some are buying gold coins or bars for the first time. Others are investing in stock funds, trading metal value in a way similar to stock trading.
On Wednesday, the price of gold on the spot market in New York reached a record more than $5418 for ons troy, the standard with which precious metals are measured.
Since then, prices have dropped, with contracts set for the deadline that fell under $5,000 on Friday afternoon, which could signal a broader correction, Telegraph broadcast.
The valuables have also become more pronounced after the leak of the news that President Donald Trump would appoint former Federal Reserve official Kevin Wars as governor of the US central bank.
Gold can be unstable and unpredictable. However, prices are much higher than a year ago, when the spot price in New York was less than $295 per ounce.
Many things depend on uncertainty. Interest in buying gold and other precious metals like silver is growing in turbulent times.
Gold prices rose worldwide at the peak of the COVID-19 pandemic, and amid ongoing wars and riots caused by President Trump's tariffs.
