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Ulviyya Poladova

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Precious metals experienced a downward correction during the latest trading session on the COMEX in New York, as investors reacted to a strengthening U.S. dollar, AzerNEWS reports.

Both gold and silver retreated from their recent positions, marking a day of profit-taking across the commodities sector.

The price of a troy ounce of gold fell by 23.7, settling at 4,700.3, according to trading platform data. This decline represents a notable cooling off for the yellow metal, which has seen unprecedented growth throughout early 2026.

Silver also moved lower during the session. The price of one troy ounce decreased by $0.45, trading at $75.61 per ounce. The decline in silver mirrored gold’s movement, as both metals typically respond to similar market drivers, including changes in interest rate expectations and overall demand for safe-haven assets.

In a commentary for the Wall Street Journal, Thu Lan Nguyen, an analyst at Commerzbank, highlighted a pivotal shift in investor sentiment.

"The market is losing ground because investors are increasingly focused on the inflationary risks triggered by the war in the Middle East," Nguyen noted.

Image: Bloomberg