Gold falls 3.5% to one-year low as tech rout hits metals
Spot gold fell 3.5% to $3,880.97 an ounce, its lowest level in a year, while silver, platinum and palladium also slid into technically oversold territory.
Gold prices hit a one-year low on Friday while silver, platinum and palladium slid deep into technically oversold territory, as tech shares slumped amid worries that AI spending may not deliver sufficient returns.Spot gold fell 3.5% to $3,880.97 an ounce by 2:13 p.m. ET (1813 GMT) — its lowest leve…