Gold price plunges nearly 4%, oil price surges while gold and silver prices crash

Due to factors such as escalating geopolitical tensions in the Middle East, international oil prices rose on the 28th. During the European trading session, both US oil and Brent oil saw gains exceeding 4% at one point, before narrowing afterwards. Global inflation expectations intensified as a result, leading to a surge in government bond yields across multiple countries. Consequently, investor interest in non-interest-bearing assets such as precious metals weakened, causing international gold and silver prices to decline. As of 23:25 Beijing time on the 28th, the spot price of gold was $4,125.39 per ounce, down 3.75%; the spot price of silver was $61.063 per ounce, down 5.00%. In terms of futures, the gold futures price for December delivery on the New York Mercantile Exchange was $4,154.70 per ounce, down 3.85%; the silver futures price for December delivery was $61.415 per ounce, down 5.23%. (CCTV Finance)