The rally in precious metals continues. Anyone looking to buy gold jewelry, or simply invest in gold-related securities, will have to pay even more. Gold is at an all-time high on the New York Stock Exchange ($3,557.10 an ounce). Not only that, silver continues to rally: for the first time since 2010, it traded on the market at $40 an ounce. Naturally, this is a favorable time for those who own gold or silver they want to sell, even if they won’t be able to achieve the same stratospheric price in practice.
There are several reasons pushing gold higher. For example, there are macroeconomic factors, such as the expected interest rate cut in the US, which have prompted investors to buy gold as an alternative to US bonds, as well as political disputes within the United States, including tariffs and power struggles. All of these factors offer a psychological advantage for those seeking a safe haven investment. The rise in long-term yields, linked to concerns about US debt and fears about the independence of the Federal Reserve (the US central bank), is increasing gold’s appeal as an alternative hedge, according to many analysts. Will the rally continue?
