Precious metals were among the assets firmly in negative territory on Wednesday, as fears about inflation and the Federal Reserve’s interest rate path weighed on investor sentiment.
By 7:05 a.m. ET, spot gold
was down 2.4% to trade at around $ 4,161.63 an ounce. U.S. gold futures
also fell 2.2% to settle at $ 4,194.90/oz.
Stocks and funds linked to gold and silver also fell in pre-market trading on Wednesday. The ProShares Ultra Silver ETF was last seen trading 2.8% lower, while the iShares Silver Trust ETF was down by 1.4%. First Majestic Silver
shed 3.8%, while Hecla Mining
was 3.1% lower.
