Gold and silver prices were slipping on Friday, along with copper, which was headed for its biggest weekly loss in more than a year.
Gold prices were headed for a modest weekly loss on Friday, while recession worries continued to weigh on copper, poised for its biggest one-week fall in over a year.
Silver... Gold prices were headed for a modest weekly loss on Friday, while recession worries continued to weigh on copper, poised for its biggest one-week fall in over a year. Silver is looking a bigger weekly loss of around 3.4%, with losses stemming from Federal Reserve Chair’s Jerome Powell’s assertion on Capitol Hill this week that the central bank will get inflation under control and keep raising rates to meet that goal, Rupert Rowling, market analyst at Kinesis Money, told clients in a note.
Meanwhile, global recession fears have hit copper hard this week, with the commodity poised for its biggest weekly loss in more than a year, down 7.1% as of Thursday. That would be the largest weekly drop since June 2021, according to FactSet.
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