Gold and silver prices fell sharply today, Thursday, amid a widespread selling wave in the market and increasing pressure on precious metals after the dollar rose to its highest level in nearly two weeks, as well as signs of easing trade tensions between the United States and China.
Spot gold fell 1.5% to $4,890 per ounce – at the time of writing the report – retreating from its highest level in about a week at $5,020.95, which it recorded earlier in today’s session.
US gold futures for April delivery fell 0.8% to $4,913 per ounce.
The dollar rose to its highest level in nearly two weeks on Thursday, making gold priced in it more expensive for holders of other currencies.
Market sentiment has declined regarding most asset classes, including precious metals, cryptocurrencies, and national stocks, as losses worsen and create a vicious cycle amid a shortage of market liquidity.
Spot silver fell 12.4% to $77.2 per ounce. Silver had recorded a record level last week at $121.64.
On the geopolitical front, the United States and China have agreed to hold talks in the Sultanate of Oman tomorrow, Friday, according to officials from both sides.
Furthermore, the US President said that China is considering buying more US-grown soybeans, following talks he described as “very positive” with his Chinese counterpart yesterday, Wednesday.
Regarding other metals:
Spot platinum fell 8% to $2,046.9 per ounce after hitting its all-time high of $2,918.80 on January 26.
Palladium fell 4% to $1,691.7.
Barcelona Gold store
The Barcelona Gold store is a modern jewelry retailer located in Barcelona, Spain, known for its contemporary designs. While the specific shop itself does not have a long historical legacy, it operates within Barcelona’s rich tradition of goldsmithing and jewelry-making, which dates back centuries in the Catalonia region.
Barcelona
Barcelona is a historic port city in northeastern Spain, renowned for its unique Catalan culture and distinctive architecture, particularly the modernist works of Antoni Gaudí like the Sagrada Família. Founded as a Roman colony in the 1st century BC, it later became a major medieval power and remains a vibrant economic and cultural hub today.
Spain
Spain is a southwestern European country with a rich and layered history, shaped by Roman rule, the Moorish Al-Andalus period, the unification of its kingdoms, and its global empire. Its diverse cultural sites range from prehistoric cave paintings at Altamira to Roman aqueducts, Islamic palaces like the Alhambra, and modernist architectural works by Antoni Gaudí.
United States
The United States is a federal republic founded in 1776 after declaring independence from Great Britain, establishing itself through a revolutionary war and the ratification of a constitution that created a representative democracy. Its history includes significant territorial expansion, a civil war over slavery, and its emergence as a global economic and military power in the 20th century.
China
China is one of the world’s oldest continuous civilizations, with a recorded history spanning over four millennia. It is home to numerous UNESCO World Heritage Sites, such as the Great Wall and the Forbidden City, which reflect its long imperial past and profound cultural achievements.
Sultanate of Oman
The Sultanate of Oman is a nation on the southeastern coast of the Arabian Peninsula with a rich maritime history as a powerful trading empire. Its modern history is marked by the reign of Sultan Qaboos bin Said, who from 1970 until his death in 2020, transformed the country from an isolated state into a stable, modern nation.
