Khaberni - Gold and silver prices plummeted sharply on Thursday amid a widespread sell-off in the market and increased pressure on precious metals following the dollar's rise to nearly a two-week high, along with indications of easing trade tensions between the United States and China.
Gold in spot transactions fell 2.5% to 4838.81 dollars per ounce by 0535 GMT, retreating from the highest level in about a week recorded earlier in the session.
US futures contracts for gold delivery in April declined by 1.9% to 4855.60 dollars per ounce.
The price of silver in spot transactions plummeted 14.9% to 74.94 dollars per ounce. Last week, the precious metal recorded a record high at 121.64 dollars.
