US Stock Market Movement | Gold and Silver Prices Fall Again, Dragging Down the Precious Metals Sector

格隆汇 March 5｜First Majestic Silver fell by 5.5%, Coeur Mining dropped over 4%, Kinross Gold and Agnico Eagle Mines declined by 3.8%, Eldorado Gold and Pan American Silver fell by 3.6%, Barrick Gold and Harmony Gold dropped by 3.4%. In terms of news, spot gold fell more than 1.4% intraday, breaking below $5070/oz. Spot silver once dropped more than 3.6%, hitting a low of about $80.5/oz. According to informed sources, the governor of the Polish central bank has proposed a plan to raise up to 48 billions zloty (approximately $13 billions) by selling gold reserves to fund defense spending, a plan supported by the Polish president. (格隆汇)