Gold Slides to One-Year Low Near $3,912 as Silver Crashes Below $50
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Gold prices extended their decline beyond the $4,000 level reported in the previous update, with London spot prices touching $3,937 and some sources reporting intraday lows near $3,912. Silver crashed more than 5%, falling below $50 per ounce for the first time since November 2025. An attack on a tanker in the Strait of Hormuz fueled oil prices further. The European Central Bank is also now expected to raise rates in December, adding a new dimension to the global rate-hike pressure. UBS analyst Giovanni Staunovo projected gold could reach $5,000 or higher in 2027 if the Fed eventually cuts rates.
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