Inflation Data Sends Gold and Silver Prices Down
Gold and silver prices fell on Wednesday as hotter-than-expected inflation data pushed U.S. Treasury yields higher and strengthened the U.S. dollar.
The Personal Consumption Expenditures (PCE) data, a key indicator of inflation trends, showed stronger-than-forecast growth, which sent gold and silver prices plummeting.
Spot gold traded near $4,591.70 an ounce, down 1.42%, while silver was at $68.00, down 0.78%.