‘Big
change’ in global growth is bullish for commodities including copper, says
VanEck CEO
Silver futures
The prices of gold and silver are doing well this year. Silver soared to a high of $29.75 this month, much higher than last year’s low of $20.73. The increase in silver price lagged behind the increase in gold price, as
reflected in the rising Gold/Silver ratio since the middle of the month.
Gold'r rise to all-time high!
Gold's rise to all-time highs above $2400 per ounce this year has
captivated global markets. China, the world's largest producer and consumer of
the precious metal, is at the forefront of the extraordinary ascent.
Worsening geopolitical tensions, including war in the Middle East and
Ukraine, and the prospect of lower US interest rates all burnish gold's
reputation as an investment. But juicing the rally is unrelenting Chinese
demand, as retail shoppers, fund investors, futures traders, and even the
central bank look to bullion as a store of value in uncertain times.
The People’s Bank of China has been on a buying spree for 17 straight
months, its longest-ever run of purchases, as it looks to diversify its
reserves away from the dollar and hedge against currency depreciation
Chinese demand could continue to rise as investors look to diversify
their holdings with commodities, BI analyst Rebecca Sin said in a note.
China Is Front and Center of Gold’s
Record-Breaking Rally - BNN Bloomberg
CME Group Micro Gold, Silver and
Copper Products Update – April 2024 - CME Group
Gold (GLD) and silver (SLV) ETFs to benefit from the REPO Act (invezz.com)
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