All Precious Metals in Loss
Gold marked its lowest levels in the past 7 months after experiencing a loss last week. The yellow metal, starting the week at $1925 per ounce, saw sharp selling as expectations are that the Fed will continue its hawkish policy for a while longer. During the week in which the dollar gained strength, the dollar index had a full-fledged rally last week, reaching a peak of 107, a high for the past month. Gold, during this period, felt the selling pressure and reached the week's lowest level at $1846 per ounce. The yellow metal closed the week at $1848 per ounce, recording a 4 percent loss for the week.
Silver left behind a week in which it experienced greater losses compared to gold, marking its lowest levels in the past four months. The white metal started the week at $23.55 per ounce and closed at $22.19 per ounce, reflecting a 5.8 percent loss.
Platinum also experienced losses in line with other precious metals, concluding a week in the red. Starting the week at $931 per ounce, platinum closed at $908 per ounce, registering a 2.4 percent loss for the week.
Palladium, while experiencing losses similar to other metals, was the least value-losing precious metal of the day. Starting the week at $1255 per ounce, palladium closed at $1248 per ounce, reflecting a 0.5 percent loss.
Source: TROY
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