On March 19, at the Chicago Mercantile Exchange (CME), the quotes for the April gold futures fell by 8%, reaching $4,505.3 per ounce, according to trading data.
Data as of 19:00.
The decline in gold and silver prices occurred against the backdrop of the war in the Middle East, which undermined expectations for a reduction in interest rates, as reported by Bloomberg. Oil and gas prices surged sharply due to the conflict in the region, raising inflationary risks and reducing the likelihood of interest rate cuts by the Fed and other central banks. This creates unfavorable conditions for investments in precious metals, which do not yield interest income.
On Thursday, oil and gas prices continued to rise following attacks by Iran and Israel on key energy facilities in the Persian Gulf. Amid growing geopolitical tensions, the price of Brent oil increased by more than 10%, exceeding $119 per barrel, while gas prices on the exchange rose by more than 35%, reaching $891 per 1,000 cubic meters.
