Gold and silver plunged following a strong jobs report Friday, leaving both precious metals hovering near their lowest prices of the year to date, with analysts citing expectations the Federal Reserve will keep interest rates high and a strengthening dollar.
Gold and silver hit their lowest levels since March following strong jobs data. (AP Photo/Matthias Schrader, File)
The price of gold is $4,388.00 as of 11 a.m. EST Friday, down more than 2.5% but slightly higher than an intraday low of $4,369.40.
Silver tumbled more than 6% to $69.44 as of 11 a.m. EST, but it plunged even further to $68.92 earlier in the day.
Silver slipped under $69 for the first time since its price plunged in late March, while the cost of gold also fell to its lowest level in more than two months.
