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Gold’s drop to below $1,250 per ounce and a rally in the US dollar sent silver as low as $18.87 per ounce this morning.
Gold’s drop to below $1,250 per ounce and a rally in the US dollar sent silver as low as $18.87 per ounce this morning, according to Reuters.
Specifically, the yellow metal sank to $1,247.60, while the dollar is up for the fourth session in a row. It’s also at a 14-month high against the euro “on optimism the U.S. economy is growing in line with expectations that the Federal Reserve may begin raising interest rates next year.”
Meanwhile, geopolitical tension, which tends to bolster precious metals prices, seems to have receded since the initiation of a ceasefire in Ukraine last week.
The white metal is currently sitting at $18.92.