Gold and Silver Keep Sliding Weekly as Hormuz Strife Lifts Crude Prices

Spot gold and silver fell in late Friday trade, extending weekly declines. Fears of escalation around Iran lifted Brent crude above $117 a barrel, reinforcing expectations of tighter Fed policy and weighing on precious metals. Gold traded near $3,995.81, down 0.70%, while silver stood near $53.896, off 1.26%.