Spot gold prices reached a historic high of nearly $3,168 before reversing course and declining. By the end of trading in New York, spot gold had fallen 0.54% to $3,117.40 per ounce. Earlier in the Asia-Pacific session, it had surged to $3,167.84 before experiencing volatility.
COMEX gold futures for June delivery dropped 1.07% to $3,132.40 per ounce, while the August contract decreased by 1.81% to $3,154.70 per ounce.
Spot silver saw a significant decline of 6.05%, closing at $31.8289 per ounce. Similarly, COMEX silver futures plunged 7.92% to $31.905 per ounce.
In the base metals market, London copper fell over 3.4%, while London zinc decreased by 2.4%. London tin retreated from its highest level since 2022.
