Gold and Silver Prices Retreat as the Week Closes
On Thursday, the prices of gold and silver retreated sharply, putting the precious metals on course to end the week on a low. Several factors could be behind this price movement as the usual suspects, such as a surging USD and rising Treasury yields don’t sufficiently explain this price correction. Silver was trading at $81.1 an ounce while gold settled at $5,073 an ounce by the end of the trading day. While precious metals struggle when the dollar rises or when yields on Treasuries increase, the current precious metals situation doesn’t quite seem to be amenable to these usual explanations…