Gold Drops 5% and Silver Falls More Than 10% in Sharp Selloff

The move comes as markets price out rate cuts amid rising inflation and higher energy prices, pushing gold nearly $1,000 per ounce below its record high.

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Terms & Concepts
  • Rate cuts: Central bank interest rate reductions that can support risk assets and non-yielding assets like gold by lowering borrowing costs.
  • Inflation: A broad rise in prices that reduces purchasing power and can reshape expectations for interest rates and asset valuations.
  • Record high: The highest price level ever reached by an asset over its trading history.