Editor’s Note
This article examines the recent pressures on precious metals, particularly gold, as investors sell holdings to cover equity losses and adjust to shifting expectations for U.S. interest rates amid a resilient labor market.
Precious metals markets, including gold, are facing downward pressure. As selling spreads across stock markets, primarily in the United States, movements to sell gold to cover losses have emerged. Economic indicators showing the resilience of the U.S. labor market, which have pushed back expectations for U.S. interest rate cuts, are also weighing on precious metals markets.
The London spot price, an international benchmark for gold, fell to a low of $4,877 per troy ounce at one point during trading on the 12th, down $200 (4%) from the previous day, marking its lowest level in four trading sessions. During Asian trading hours on the 13th, it also fell below the $5,000 level…
