Gold, Silver ETFs Tumble up to 3.6% as Precious Metals Slide on US Fed Rate-Hike Fears
5 Articles
5 Articles
Gold, silver ETFs tumble up to 3.6% as precious metals slide on US Fed rate-hike fears
Gold and silver ETFs fell sharply on Monday, tracking a global sell-off in precious metals as rising crude oil prices fuelled inflation concerns and strengthened expectations of further US Federal Reserve rate hikes.
(Dan Tri Newspaper) - A massive sell-off has wiped out more than $1.05 trillion from the precious metals market, as investors fear the US Federal Reserve will continue to aggressively raise interest rates in October.
Why Gold and Silver Prices Fell as Over $550B Wiped Out in Sell-Off
Gold and silver prices declined as reports linked the drop to rising Treasury yields, a stronger U.S. dollar and renewed interest-rate concerns. According to sources, the metals lost more than $550 billion in market value within three hours, with gold’s estimated valuation loss at $470 billion and silver’s at $101 billion. Higher Yields and Dollar […] Read The Full Article Why Gold and Silver Prices Fell as Over $550B Wiped Out in Sell-Off On C…
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