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Precious Metals Retreat: Gold Slides While Silver Breaks Below Key Support Level
In today’s trading session, spot gold and silver prices faced selling pressure, with precious metals pulling back sharply across the board. Spot gold retreated by $16 to settle near $4,453 per ounce, reflecting a notable weakening in safe-haven demand.
The downward momentum proved more pronounced for silver, which slipped below the $79 per ounce level, marking a 2.81% decline for the day. This weakness extended to futures markets as well, with New York silver futures tracking the selloff and breaking below the same $79 threshold, down 2.64% on the session.
The broad-based decline across spot gold and silver prices suggests renewed risk appetite among investors, with capital rotating away from traditional safe-haven assets toward higher-yielding alternatives.