finance
Gold and Silver Prices Fall to Two-Month Lows on Jobs Data
Strong U.S. employment figures and expectations that the Federal Reserve will hold or increase interest rates this year drove gold and silver prices lower on Friday.
FO
indiatoday.intoday.inAudio version
Tap play to generate a narrated version.
Gold and silver prices reached two-month lows on Friday after the release of stronger-than-expected U.S. jobs data. Market participants interpreted the employment report as increasing the likelihood that the Federal Reserve will maintain or raise interest rates through the remainder of the year. Higher interest rates typically reduce demand for non-yielding assets such as gold and silver.
Trading volumes rose as prices moved lower during the session.
No statements from Federal Reserve officials were included in the report. The decline marked the lowest settlement levels for both metals since early April.
Transparency
3 sources · across multiple outlets
CorroborationModerate · 3 sources
