Precious Metals Market Takes a Hit

On Thursday, the prices of precious metals continued to decline, with silver experiencing a significant 3% drop. This downturn comes as investors react to the latest economic data.

The annual US consumer inflation for November reached 2.7%, surpassing the previous month's figure. This rise has sparked speculation about its potential impact on the future monetary policy of the US Federal Reserve, which is scheduled to meet next week.

By 10:43 am ET, silver had fallen to $30.92, marking a 3% decrease. Gold also saw a decline, dropping 1.51% to $2,675.91 a minute later.