Last updated on October 18, 2023
Gold and silver prices plummeted on Monday, reaching new lows for the year. December gold futures hit a 10-month low, while December silver futures dipped to a 6.5-month low. The decline in prices is likely fueled by a robust U.S. dollar and rising treasury yields, which have enticed investors away from precious metals.
The decreasing demand for gold and silver can also be attributed to the increasing optimism surrounding the global economy. As COVID-19 vaccinations progress and economies reopen, investors are shifting their focus towards riskier assets, such as stocks, rather than safe-haven metals like gold and silver.
This downward trend in prices presents a potential buying opportunity for investors who believe in the long-term value and resilience of these precious metals. However, it is essential to closely monitor market conditions and consult with financial advisors before making any investment decisions.
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