Gold and Silver Lose $1 Trillion in Value as Gold Plummets to $4,034.76

The downturn occurred despite increased buying from exchange traded funds and central banks. Analyst Monte Safieddine of Capital.com warned that a "difficult cocktail" of sticky inflation and high Treasury yields is pressuring the metal, noting that $4,000 is now a critical support level. While rising energy costs raise the risk of delayed Federal Reserve rate cuts, a stable U.S. labor market suggests the central bank will hold rates steady next week.