Oklo stock tumbles as Financial Times scrutinizes valuation
Investing.com -- Silver prices fell more as much as 6% on Friday, marking the largest drop in six months as precious metals pulled back from their recent rally. Silver recovered slightly late in the day but was poised to close down 4.75%.
The decline came as concerns over U.S. credit quality and China-U.S. trade tensions eased. President Donald Trump’s comments on Friday helped calm worries about trade frictions, while positive results from regional banks stabilized the stock market and pushed bond yields higher. Rising interest rates typically pressure gold and silver prices, as these metals don’t generate interest income.
Silver had reached new all-time highs earlier this week, approaching $54.48 an ounce on Friday before reversing sharply. Market analysts suggest the rally may have advanced too quickly.
Additionally, a historic squeeze in the London silver market is showing signs of easing, which prompted some investors to take profits.
The broader precious metals sector also retreated as haven demand diminished following the week’s furious rally.
Gold fell 2.4% Friday to $4,220 after hitting a high of $4,380 an ounce earlier in the day.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.