A US-China trade agreement and waning expectations of rate cuts by the Federal Reserve are driving the consolidation of gold and silver prices, which are headed for a second consecutive weekly decline.
Gold and Silver reversed their gains and continued their downward trajectory as traders reduced their bets on additional rate cuts in the US.
After setting a record high of $4398 last week, gold has dropped more than 12% to $3901, while silver has dropped around 15%. This seven-day correction has put an end to one of the longest bull runs in the history of the precious metal.
Gold prices have fallen below $4000 and Silver $47 as bullion’s appeal as a safe-haven was somewhat diminished with indications of an easing of US-China trade tensions, and market players await this week’s Federal Reserve interest rate decision.
As investors booked gains after a protracted record-breaking rise, gold saw its biggest one-day dip in more than ten years this week, falling more than 6%. Although silver paralleled gold’s decline, it saw a more severe correction of about 9% as profit-taking increased following its big increase earlier this month.
Discover 5 practical and smart ways to use your gold loan from consolidating debts to funding education and investments for better financial growth.
Gold holds both emotional and financial value, but sometimes selling it becomes necessary to meet urgent needs. This article helps you make that decision wisely – guiding you on when, where, and how to sell your old gold safely and smartly.
Over the past two decades, gold has consistently outperformed many asset classes, delivering a 15% compounded annual return for Indian investors. So when you are thinking of investing in Gold and Silver, think of long term, say 3 years, 5 years and 10 years. The idea is to allocate at least 15-20% of the portfolio in Gold and Silver for a higher risk-adjusted return. If your portfolio is under allocated, increase the allocation starting this Dhanteras/Diwali.
Gold is on track for its greatest week in almost 17 years, with prices touching $4392 and aiming for $4400 today. Investors were drawn to the safe-haven gold by hints of weakness in U.S. regional banks, global trade tensions, and additional rate-cut anticipation.