Hot Commodiites: Gold, silver slump over 1% on firm dollar and profit taking
19-Jun-2025
13:05
Gold and silver futures dropped more than 1% as investors locked in recent gains and a stronger US dollar weighed on precious metals. Silver faced selling after flirting with 13-year highs, while gold corrected lower after testing record levels. The dollar index advanced toward 99, extending this week's rally following the Federal Reserve's decision to hold rates steady and stick to a cautious, data-dependent stance. Despite the pullback, safe-haven demand remains underpinned by escalating geopolitical tensions. The Israel-Iran conflict has intensified, with Israeli forces striking multiple sites near Tehran tied to nuclear and missile programs. Reports suggest the US may join Israel's offensive, raising fears of a broader regional war that could reignite bullion's appeal.
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