Gold and silver slide on renewed Middle East war tensions
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Gold and silver futures declined as the dollar and oil prices increased amid renewed tensions in the Middle East following Iran's threats of retaliation against the U.S. seizure of an Iranian vessel. The U.S. dollar reached a weekly high, impacting gold and silver prices, which are sensitive to geopolitical developments. Gold closed 1% lower at $4,806.60/oz, while silver fell 2.2% to $79.951/oz. Demand for gold in India remained weak due to high prices, affecting jewelry purchases.
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