Gold and silver dropped today on speculations that steady growth of the US economy will lead to an interest rate hike from the Federal Reserve in
Good nonfarm payrolls would confirm a healthy state of the US economy, giving more incentive for the Fed to trim stimulus. Such outlook spurs investors to pull off their funds from safe assets, like precious metals, and put them in
June futures for gold dropped $3.8 (0.29 percent) to $1,287.0 per troy ounce as of 21:07 GMT on COMEX today. May contract for delivery of silver lost as much as $0.24 (1.17 percent) to $19.82.
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