Gold falls 13-month low as energy prices remain high
- Gold edges down 3.5% to $3,880 per ounce, while silver drops 6%
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- Gold edges down 3.5% to $3,880 per ounce, while silver drops 6%
By Gokhan Ergocun
ISTANBUL (AA) - Gold prices fell below the $3,900 threshold on Friday as global energy prices remained high.
Spot gold traded at $3,880 per ounce at 1750GMT, down 3.5% for the day; the precious metal has declined 7.14% over the past month and 10.19% over the past year.
Silver prices fell 6% to $49 per ounce, bringing their year-on-year drop to 31.1%.
Brent crude futures rose 2.7% to $113.7 per barrel after topping $117 earlier this week to reach the highest level since July.
European natural gas price traded at €103.5 ($115.4) per megawatt-hour, hovering around its highest level since late 2022.
Gökhan Ergöçün