Gold, Silver Prices Decline Sharply Amid Rising Crude Oil and Inflation Fears

Gold slumped below $4,000/oz, its steepest weekly fall since June, while silver dropped over 3%. Rising crude oil prices are fueling inflation concerns, reinforcing expectations that global interest rates stay elevated for longer. This reduces the appeal of non-yielding precious metals. Markets now await next week's US PCE report for inflation and rate clues; further energy-driven inflation could extend pressure.