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Spot gold fell as much as 3.5% to $1,882.51 an ounce, its biggest drop in almost five weeks, while silver plunged as much as 11%. The Bloomberg Dollar Spot Index headed for its biggest gain since June.
Stocks also tumbled on concerns about tighter coronavirus restrictions.
A stronger dollar makes dollar-priced commodities more expensive for foreign buyers, weighing on precious metals and broader raw material demand. Metals and energy prices face downward pressure from this move.
bloomberg.comYvonne Yue LiSep 21, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
