Gold, Silver Erase Intraday Gains on Profit Booking, Firmer Dollar

Gold and silver are metals that people buy like treasure.

On Thursday, their prices first went up very high, but then they came back down.

Prices fell because people who bought them earlier wanted to take their profits, and the US dollar became stronger.

When the dollar is strong, gold and silver become more expensive for people who use other money.

Earlier, prices had been rising because people thought a fight in the Middle East might be ending, which made them less worried.

Iran and a country called Oman are working on a deal to reopen a very important waterway called the Strait of Hormuz.

There was also news that fewer new jobs were created in America last month.

Some people now think the Federal Reserve will not raise interest rates in September.

The Federal Reserve, the group that controls money in America, kept its rates the same again for the fifth time.

Even so, one of its leaders said she is ready to raise rates if prices keep going up too fast.