Precious metal prices slumped Thursday as investors flocked to the U.S. dollar as an alternative hedge against the uncertainties surrounding Brexit and the unresolved trade war between the United States and China. E-micro Gold Futures for June (MGC=F) edged down 1.4% – failing to hold above the psychological $1,300 level – while COMEX miNY Silver Futures for May (QI=F) dropped 2% and threatened to break below $15. Meanwhile, the U.S. Dollar Index (DX-Y.NYB), a measure of the greenback relative to the value of a basket of other developed currencies, traded up 0.5%.
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