Spot Gold Falls 1.8% Intraday To $4,250/Oz; Spot Silver Falls Over 3.8% To $52/Oz

Tiger Newspress
10/17

Gold prices fell on Friday after hitting a record high above $4,300 per ounce, pressured by a firmer dollar and U.S. President Donald Trump's comment that a "full-scale" tariff on China would be unsustainable. Spot gold fell 1.82% to $4,249.65 per ounce; spot silver fell 3.8% to $52.21 per ounce.

Trump on Friday confirmed a meeting with his Chinese counterpart, easing some market jitters over the escalating trade conflict between the two countries. Wall Street's main indexes were mixed at open on Friday after the comments, while worries over regional bank credit issues kept investors on edge.

Gold stocks sank on Friday. Harmony Gold down over 7%; Gold Fields down over 5%; Coeur Mining down 4%; Newmont Mining, Anglogold, Barrick down over 3%.

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