Gold Hits New High, Silver Climbs to Highest Level Since 2012
The price of gold, one of the assets considered a safe haven in times of uncertainty, hit a new high today, above $ 2,445 per troy ounce, and silver reached its highest level since 2012.
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Economia Bloomberg
Gold was up 1.25% at $2,446.27 as of 6:35 a.m. ET today, surpassing its previous record of $2,431.50 set on April 12, according to Bloomberg data.
Silver, meanwhile, hit $32.51 earlier this morning (3:26 a.m. in Lisbon), its highest level since December 2012.
The price of silver is now up more modestly, trading at $32.18.
Analysts cited by Efe are upbeat on the outlook for gold and silver, which have rallied in recent days following the release of weaker-than-expected U.S. economic data that revived hopes the Federal Reserve will cut interest rates later this year.
Analysts at Swiss bank Julius Baer added that regardless of U.S. monetary policy, the gold market’s dynamics continue to be dominated by Asia and central bank purchases.
Similarly, asset manager Jupiter said it continues to see record demand for gold from China and record inflows into silver from India.
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