Gold and silver slide to year lows amid inflation fears
Business
Gold and silver just took a big dip, hitting their lowest prices in about a year.
On Friday, gold dropped 2.7% to $3,910.53 per ounce, while silver slid 5.8% to $49.34 per ounce, both setting new recent lows as inflation fears heat up.
Gold and silver under pressure
Rising energy costs are making inflation worse, and central banks aren't easing up on interest rates anytime soon.
With less demand in places like China and ongoing economic pressures, gold and silver are now on track to record their second consecutive monthly fall, and it looks like this trend could stick around for a while.