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Updated · Bloomberg · Jun 23Gold Slumps 2.4% to $4,091 as Tech Selloff Drives Silver Down 5%
3 articles · Updated · Bloomberg · Jun 23Summary
- $4,091 an ounce marked gold’s intraday low after bullion fell as much as 2.4%, pushing it back toward the $4,000 level.
- A global market selloff led by technology stocks hit precious metals as investors cut gold holdings to cover losses elsewhere in their portfolios.
- Silver dropped as much as 5%, extending the pressure across haven assets even as gold’s defensive appeal usually supports demand in turbulent markets.
- Gold was last below $4,000 in November, and the latest slide follows an earlier drop tied to hawkish Fed signals and renewed rate-hike fears.
Insights
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