Gold rises and silver exceeds $65 for the first time

Silver jumped above the level 65 $K for the first time today, while gold rose with… Breasts Data the job American Weakness has revived expectations of lower interest rates, putting pressure on the dollar and boosting demand for precious metals.

Silver in spot transactions increased by 2.8 percent to a record high 65.63 Dollar per ounce. Gold followed silver and rose in spot transactions by a percentage 0.4 percent to 4321.56 Dollar per ounce.

US gold futures rose 0.4 percent to 4350.50 dollar.

“A lot of the year’s summaries have highlighted that the best-performing asset class is precious metals. I would attribute today’s silver rally to speculative influx,” GoldSilver Central managing director Brian Lane said.

The rise came in the wake of US data showing that the unemployment rate in the United States rose to 4.6 percent in November, which is higher than the Reuters poll expectations of 4.4 Percent.

Brian Lane added that the unemployment data definitely helped precious metals And weakened Dollar, Than to push Investors to Search on Other asset classes that offer higher returns as a hedge against risk.

The dollar index approached its lowest level in more than two months, which it touched yesterday, making dollar-denominated bullion more attractive to buyers abroad.