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Gold and silver sell off as inflation fears grip global markets
Gold and silver joined a broad sell-off on Thursday, with the metals shedding around 3% and 5%, respectively, as fears about the Iran war and inflation gripped global markets. At 6:26 a.m. ET, spot gold was down 2.8% at $4,682.78 an ounce. Front-month gold futures were down 4% at $4,700.20. Spot silver was 5.3% lower at $71.38 an ounce, while silver futures lost 7.7%, paring earlier losses to settle at $71.63. Mining stocks and ETFs linked to gold and silver also fell in pre-market trading. The ProShares Ultra Silver ETF shed 11.8% ahead of Thursday’s opening bell, while the iShares Silver Trust ETF — which was ... (full story)
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