Gold falls to 13-month low below $3,900 per ounce — Anadolu Agency

The price of gold fell below $3,900 per ounce on Friday. On the spot market, the metal was trading at $3,880 per ounce at 17:50 GMT, down 3.5% on the day, Anadolu Agency reports.

Precious metals dynamics

Over the past month, gold has declined by 7.14%, while its price has fallen by 10.19% year-on-year. The drop in quotations came amid persistently high global energy prices.

Silver lost 6% of its value and traded at $49 per ounce. Year-on-year, the price of this metal fell by 31.1%.

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Oil and gas prices

Brent crude futures rose by 2.7% to $113.7 per barrel. Earlier this week, they exceeded $117 per barrel, reaching their highest level since July.

The European price of natural gas stood at €103.5, or $115.4, per megawatt-hour. It remained close to its highest levels since late 2022.