Investor sentiment for gold and silver prices has turned negative in recent weeks, as the prices of both metals have fallen sharply. Many stocks in the precious metals industry have dipped during the same period. Hecla Mining, Endeavour Silver, and Coeur Mining were among the worst performers in the sector. Let’s explore this downward trend.
Commodity markets plummeted following declines in the prices of gold and silver. As per information from Kitco, prices of base metals, such as iron ore and copper, also fell to two-month lows. Gold and silver prices fell below $1,900 and $24 per ounce, respectively, as the conflict between Russia and Ukraine continues unabated. However, the falling demand for gold in China—the result of the country’s efforts to control the spread of the coronavirus—may have had a greater impact on prices.