Gold, Silver Stocks and ETFs Sink as Gold Falls to over One-Month Low on Firm Dollar, Hawkish Fed

Gold, silver stocks and ETFs sank in premarket trading. ProShares Ultra Silver fell 12%; Anglogold Ashanti, Gold Fields, Endeavour Silver, and Eldorado fell 7%; First Majestic Silver, Harmony Gold, Coeur Mining, iShares Silver Trust, Pan American Silver, Hecla Mining, and Newmont Mining fell 6%; ProShares Ultra Gold and Hycroft Mining fell 5%.

Gold prices fell to a more-than-one-month ‌low on Thursday, weighed down by a firm dollar and a hawkish Federal Reserve, which limited hopes for near-term interest rate cuts.

Spot gold fell 1.1% to $4,764.27 per ounce as of 0649 ​GMT, its lowest since February 6.

U.S. gold futures for April delivery fell ​2.6% to $4,770.

Spot gold has fallen more than 9% since the U.S.-Israeli strike ⁠on Iran on February 28, pressured by a stronger dollar, which has emerged ​as one of the clearest "safe-haven" winners.

As the dollar firms, greenback-priced bullion becomes more expensive ​for holders of other currencies.

Spot silver fell 4.3% to $72.14 per ounce. Spot platinum fell 2.1% to $1,981.48, and palladium lost ​1% to $1,461.