International gold and silver prices closed lower on Friday.
Both metals spiked following the release of U.S. nonfarm payroll data before plunging sharply and ending the session in negative territory.
On the New York Mercantile Exchange, gold futures for December delivery dropped 0.95 percent to settle at 4,162.30 U.S. dollars per ounce, while silver futures for December delivery lost 1.24 percent to close at 60.415 dollars per ounce.
Gold, silver futures close lower Friday
Gold, silver futures close lower Friday
Global food prices rose again in September due to tightened supplies and uncertainty over shipping schedules, said Stephane Dujarric, spokesman for the United Nations (UN) secretary-general on Friday.
The UN Food and Agriculture Organization (FAO) Food Price Index averaged 136.0 points in September, up by 1.5 percent from August and 5.8 percent compared with the same month last year, Dujarric said at a press conference.
Sugar recorded the sharpest rise, increasing 6.1 percent to its highest level since April 2025, as global supplies are expected to tighten, said the spokesman.
"Commodity prices rose in September, driven by higher sugar, cereal and vegetable oil prices. Cereal prices were up 5.1 percent on the month, and wheat reached its highest level since August of 2023, largely because of logistical constraints in the Black Sea region. Maize hit a three-year high, as supplies tightened and uncertainty continued over shipping in the Strait of Hormuz," he said.
For businesses and everyday consumers, these escalating supply-chain disruptions directly fuel rising grocery bills and broader inflation, placing immediate financial pressure on household budgets worldwide and worsening food insecurity risks in import-dependent nations.
Global food prices rise in Sept due to tightened supplies: UN
