Gold and silver futures prices are higher in early U.S. trading Thursday as the bulls have stabilized their markets and have gained some upside momentum late this week, after prices hit multi-month lows earlier this week. A depreciating U.S. dollar index that hit another 2.5-year low overnight is working in favor of the metals markets bulls. February gold futures were last up $14.20 at $1,844.40 and March Comex silver was last up $0.25 at $24.33 an ounce.
Global stock markets were mixed overnight. U.S. stock indexes are pointed toward narrowly mixed openings when the New York day session begins, as they pause after the S&P 500 and Nasdaq indexes hit record highs this week. Risk appetite remains upbeat late this week. Reports say President-Elect Joe Biden is now also pushing a bi-partisan pandemic financial aid package for Americans, which would total just under $1 trillion. Gold and silver bulls are also benefitting from notions a package could get passed by the U.S. Congress in the coming weeks—not from a safe-haven point of view but from notions a fresh influx of cash into the financial system would boost demand for the metals and would further stoke price inflation that could be ignited down the road.
Source Kitco
Disclaimer: All articles published here are for information purposes only. They can not in any way influence your investment decision. You are the only ones who can decide the best investment possible for your money, and whatever decision you make, it will carry a risk. The information or data included here may already be overwhelmed by the events, and must be checked from another source, in case you decide to act.
For more information on trading precious metals, contact one of our branches located at:
Switzerland : Berne | Delémont | Fribourg | Genève | La Chaux-de-Fonds | Lausanne | Morges | Neuchâtel | Sion | Zürich
France : Angers | Angoulême – Champniers | Annecy | Besançon | Brest | Clermont-Ferrand | Lanester | Mandelieu | Marseille | Nîmes | Niort – Chauray | Poitiers | Quimper | Rennes – Saint Grégoire | Toulouse – Fenouillet
