Gold and silver prices fall as rate-hike fears trigger precious metals sell-off
By
Joseph Wilkins
Summary
Gold and silver prices tumbled as a global sell-off in tech stocks, driven by fears of higher interest rates, spilled over into precious metals. Gold futures fell 1.5% to $4,142/oz, while silver dropped over 5% to $62.25/oz. The article notes that gold's safe-haven reputation has been questioned since the U.S.-Iran war outbreak on Feb. 28, and an unexpectedly hawkish Fed meeting chaired by Kevin Warsh last week further boosted rate-hike expectations, pressuring metals prices.
Source
bskyGold and silver prices fall as rate-hike fears trigger precious metals sell-offcnbc.comKey quotes
· 3 pulledGold futures fell 1.5% on Tuesday to $4,142 an ounce, while silver futures tumbled over 5% to $61.80 an ounce
Since the outbreak of the U.S.-Iran war on Feb. 28, gold's reputation as a safe-haven asset in times of turmoil has come under pressure
An unexpectedly hawkish Fed meeting chaired by Kevin Warsh last week boosted expectation
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