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NEW YORK SPOT METAL PRICES

August 18, 2023

Gold declined for its fourth consecutive weekly loss, closing at $1,888, finishing the week below $1,900 for the first time since March. Meanwhile, silver eked out a win, gaining $0.06 this week. Gold’s decline came as treasury yields popped, due to somewhat hawkish minutes from the Fed’s July meeting. Stocks closed nearly flat on Friday but finished the week down about 2% as investors weigh recent earnings with the likelihood of higher interest lingering longer than recently predicted based on the tone of last month’s Fed minutes.