The Economic Times

Why gold and silver prices are down today: Gold slips $44 while silver falls $2.80 What is crushing precious metals despite global turmoil?

Why gold and silver prices are down today: Gold price today slipped sharply. Gold futures dropped about $44 to nearly $5,199 per ounce. Silver price today fell about $2.80 to around $86$87 per ounce. Investors moved money into the U.S. dollar and Treasury yields near 4%. That shift hurt precious metals prices. A 36% margin hike on silver futures by CME forced traders to sell quickly. Profit-taking also followed silvers recent surge near $90 highs. Markets now expect higher Federal Reserve interest rates for longer. Higher rates weaken demand for non-yielding assets like gold and silver.