Silver Retreats from $80 Peak While Gold Softens on Profit-Taking
Tiger Newspress12-29 22:47
Silver retreated after touching a record peak above $80 an ounce on Monday while gold slipped from levels close to historic highs as investors booked profits and a market perception of reduced geopolitical risks curbed safe-haven buying.
Spot silver plunged 8% intraday, now trading at $72.72 per ounce; Spot gold sank 3% intraday, now trading at $4394.83 per ounce.
Gold and silver stocks and ETFs sank in morning trading. US Gold fell 7%; Harmony Gold, Hecla Mining, and Anglogold Ashanti fell 6%; Newmont, Agnico Eagle Mines , and Kinross fell 5%.
Hycroft Mining fell 9%; iShares Silver Trust fell 7%; Pan American Silver fell 5%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
