Commodities
Gold Slumps to Three-Week Low Amid Precious Metals Downturn
Gold prices plummeted on Wednesday, hitting their lowest mark in over three weeks. Spot gold dropped by 0.6 percent to $4,304.01 per ounce at 00:17 GMT, a level not seen since August 7th. This decline is part of a broader trend in the precious metals market, with US gold futures for December delivery also falling by 1 percent to $4,350.80.
Other key metals were not immune to the downturn, with spot silver losing 1 percent to $63.60 per ounce and platinum edging 1 percent lower to $1,722.23. Palladium suffered the largest decline, plummeting by 1.4 percent to $1,292.21.