Gold & Silver Markets Rally on Weaker Dollar, Bargain-Hunting

Gold & Silver Markets Rally on Weaker Dollar, Bargain-Hunting

The gold and silver markets have rallied during the last three weeks, and despite brief hiccups in gold and silver prices, the prices of both metals are currently near six-week highs. As of 8am EST on Tuesday, the gold spot price was $1,202.80 per ounce, a gain of $5.10 (0.45%). The silver spot price, meanwhile, has increased by $0.13 so far today, and currently stands at $16.09 for the trading session.

According to precious metal analysts, the cause for recent price increases is two-fold. The number of investors executing “short-cover” trades has increased, meaning those investors are now more optimistic about the long-term prospects of gold and silver prices.

Additionally, the U.S. Dollar Index, which has been on an upward trend for most of 2015, took a hit today. Not only does a weaker dollar mean higher gold and silver prices by default (when the dollar’s value falls it means more dollars are needed to buy the same amount of gold or silver), but dollar devaluation also has a tendency to cause safe-haven buying of gold and silver by investors who fear further decline of the greenback.
It is impossible to accurately predict the future of gold and silver prices. If you’d like to try your hand at gold and silver investing, get your copy of the special report, Gold & Silver Smart Moves in 2015, free for a limited time via the form below, or call (800) 394-3337 today for a hard copy of this award-winning gold and silver investing guide.

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