Precious Metals Crash Into the Ceiling of Decline After Historic Rally
Precious Metals Crash Into the Ceiling of Decline After Historic Rally
The prolonged and record-breaking surge in precious metals market values was followed by a sharp drop, but after the late-January plunge, precious metals have stabilized slightly with insignificant fluctuations.
According to Comex exchange data:
After falling to around $4,400 per troy ounce at 06:50 GMT, gold futures prices stabilized around $4,700 per troy ounce by 16:40 GMT.
Silver, which had dropped to $71.2 per troy ounce at 06:50 GMT, has also strengthened slightly and is trading around $78.5 per troy ounce at 16:40 GMT.
Experts attribute these price fluctuations in precious metals to the unstable global geopolitical and economic situation, as well as to leadership changes at the US Federal Reserve and the position of the US dollar.
Consequently, the future of gold and silver prices will largely depend on the volatile geopolitical situation, financial analysts warn.
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