Gold Plunges
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Gold and silver prices fell sharply on Friday, snapping a powerful rally that had carried both metals to record highs in recent weeks.
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Stocks fell on Wall Street, while gold and silver prices plunged as investors tried to gauge what President Trump's new nominee to lead the Federal Reserve would mean for interest rates.
MCX gold February futures crashed by more than ₹13,000, or nearly 8%, to drop to the level of ₹1,56,200 per 10 grams, while MCX silver March futures plunged by nearly ₹48,000, or 12%, to fall to ₹3,51,
Hycroft Mining Holding Corporation (NASDAQ: HYMC) shares are trading lower Thursday morning, despite precious metal prices reaching new all-time highs.
The bullion rose more than 3% on Thursday to breach the $5,500 per ounce mark for the first time.
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Why Gold Fields stock dropped today
Silver prices hit an all-time high last night. Both gold and silver sold off this morning, with silver losing about twice as much value as gold. 10 stocks we like better than Gold Fields › Gold Fields Limited (NYSE: GFI) stock tumbled 6.6% through 12:15 ...
SSR Mining mines gold (as well as copper, silver, lead, and zinc). It makes sense that as gold gets more valuable, so too would SSR stock. Conversely, when gold prices go down... so do the stock prices of gold mining stocks like SSR.