Gold and silver prices decline; investors doubt Trump's war withdrawal plan

Due to U.S. President Trump’s remarks dampening investors’ hopes for a clear timeline to end the war, gold and silver prices, along with industrial metals and stocks, declined. Spot gold fell by 3%, to approximately $4,670 per ounce. Spot silver dropped by over 5%.

Behind Thursday’s sell-off is market concern that rising oil prices will push up inflation, leading central banks in various countries to adopt a more tightening stance. Gold itself does not generate any income, so it tends to perform better when interest rates are low. Since the outbreak of the war, gold prices have fallen approximately 11%, retreating from record highs. Jun Bei Liu, Chief Fund Manager at Ten Cap, said one factor driving Thursday’s decline could be investors taking profits ahead of the Easter long weekend.

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