Gold hits one-year low, silver slips below $50 as inflation fears bite

Gold and silver prices have plummeted to their lowest in a year as energy costs surge and inflation remains a pressing concern. The decline in precious metals mirrors waning investor confidence, driven by fears over persistently high interest rates set by the US Federal Reserve. Furthermore, weak demand from major Asian markets is further stifling gold sales, contributing to the downturn seen in platinum and palladium as well.