Gold and silver, plummeting! What is the reason?

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On the 3rd, due to the strengthening of the US dollar offsetting some of the safe-haven demand and other factors, the prices of precious metals such as gold and silver in the international market experienced a rollercoaster. Prices initially rose at the open, then quickly plummeted, shifting from gains to losses. Gold prices once fell by 2.7%, and silver prices fluctuated even more dramatically, dropping over 10% at one point and falling below the $80 per ounce level.

As of 7:30 PM Beijing time on the 3rd, the April delivery gold futures price on the New York Mercantile Exchange was $5,198.20 per ounce, down 2.13%; the May delivery silver futures price was $80.865 per ounce, down 8.99%.

Reporter: Wang Yongqian

Source: CCTV Finance

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