Gold dropped below four thousand dollars an ounce for the first time since November and silver slid toward six-month lows, hammering Latin American miners.
Key Facts
—The break. Gold fell below $4,000 an ounce on June 24, closing near $3,970, down about 3.5% on the day and its first such level since November.
—Silver too. Silver tumbled about 5% to around $58, hovering at six-month lows after a record-breaking run.
—The trigger. A hawkish Federal Reserve and a stronger dollar turned investors away from metals that pay no interest.
—Easing fear. A US-Iran peace deal calmed energy markets, draining gold’s safe-haven premium.
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