Gold and silver prices fluctuated near critical levels amid pressure from tightening central banks and inflation fears, at a time when observers believe that the chances of a near recovery remain limited.
The spot gold price stabilized near the level of $3,990.17 per ounce on Thursday morning after breaking the $4,000 barrier in the previous session, before retesting it briefly and then declining again, while the US gold contract for front-month delivery closed at $4,006.60 with a slight decline. The yellow metal recorded losses of about 7.5% since the beginning of the year.
Silver was under similar pressure, as its spot price rose slightly to $57.49 per ounce after a previous decline during the day, while July futures fell by 1.2% to $57.41. Silver losses since the beginning of the year amounted to about 20%.
