“Gold fever” moves to silver, and the white metal’s gains exceed 70%
Gold prices stabilized above $4,000 on Thursday, with investors evaluating the Gaza ceasefire, while broader political and economic uncertainty coupled with expectations of interest rate cuts in America helped support bullish sentiment towards Yellow metal, and other precious metals.
The price of gold in spot transactions stabilized at $4,038 per ounce by 11:32 GMT, while gold futures contracts in the United States (December delivery) fell by 0.3% to $4,057.
And rose Silver prices increased by 1.5%, reaching $49.63 per ounce, with the white metal achieving gains of more than 70% this year, benefiting from the same factors that pushed the price of gold to rise.
In other precious metals, platinum rose 0.1% to $1,663 per ounce, and palladium increased 1.9% to $1,476, recording the highest level in More than two years.
Meanwhile, the The US dollar reached a two-month high, which relatively limited gold’s gains.
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