Skip to content
Subscriber Only

Gold, Silver Join in Commodities Selloff With Dollar Rallying

Updated on

Spot gold fell the most in almost five weeks, dipping below $1,900 an ounce as a strengthening dollar diminished demand for commodities.

Bullion declined as much as 3.5% to $1,882.51 an ounce and silver plunged as much as 11%. The Bloomberg Dollar Spot Index headed for its biggest gain since June, making raw materials priced in the greenback more expensive for holders of other currencies. Stocks tumbled amid concerns that economies will be hit by tighter coronavirus restrictions.