Gold and silver prices fell to seven-month lows Wednesday morning, with gold dipping below the $4,000 mark for the first time since November as analysts blame a stronger dollar and expectations the Federal Reserve may hike interest rates this year.
Gold and silver hit seven-month lows Wednesday. (AP Photo/Matthias Schrader)
The price of gold is $3,988.60 as of 9:15 a.m. EST Wednesday, down nearly 4% and marking the metal’s lowest price since November.
The price of silver is $58.44 as of 9:15 a.m. Wednesday, down nearly 6% and slightly higher than the low price of $58.09 it hit earlier in the morning.
Both metals have declined steadily throughout the past week, with silver down about 16% and gold down about 8% from one week ago today.
