Gold falls at close, posts weekly loss of over 3%
Gold bars
Gold and silver prices declined at Friday’s close as global sovereign bond yields and the U.S. dollar advanced amid rising inflation concerns linked to the ongoing conflict in the Middle East.
Precious metals also came under pressure from the lack of tangible progress on the Iran conflict following US President Donald Trump’s visit to China, alongside tougher rhetoric from both Washington and Tehran.
Trump said his patience with Iran was “running out,” while Iran’s foreign minister said Tehran does not trust the United States and is not interested in negotiations unless Washington demonstrates seriousness.
|
Gold, Silver Futures |
||||||
|
Metal |
Price ($/oz) |
Change ($) |
Change (%) |
Weekly Performance |
||
|
Gold (June Delivery) |
4561.90 |
(123.40) |
(2.63%) |
(3.56%) |
||
|
Silver (May Delivery) |
77.161 |
(7.751) |
(9.13%) |
(4%) |
||
*Settlement on May 15
Commodity Price
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