Gold continues to attract attention as prices hold around $2,000 an ounce, while silver struggles to perform. The gold/silver ratio remains high, indicating gold's dominance. Analysts note that gold benefits from technical momentum, while silver faces resistance. Silver needs to break above $24 to attract bullish interest. Gold is seen as a safer asset in times of geopolitical instability, explaining its outperformance.
- The gold market continues to attract new attention as prices hold the line around $2,000 an ounce; at the same time, silver is starting to appear on some investors' radars, but for less bullish reasons as the precious metal continues to underperform.
Silver is also underperforming relative to gold in the near term. December silver futures last traded at $23.010 an ounce, down more than 1% on the day, while December gold futures last traded at $1,999.60 an ounce, down 0.30% on the day. Some economists have warned that Russia's ongoing invasion of Ukraine, coupled with renewed chaos in the Middle East from Israel's war with Hamas, will further strain the global economy.
Although the Federal Reserve is expected to hold interest rates unchanged on Wednesday, the central bank is still expected to maintain its restrictive monetary policy for the foreseeable future. Some commodity analysts have noted that this continues to support a stronger U.S. dollar and higher bond yields, two significant headwinds for gold and silver.
Gold Silver Market Prices Ratio Underperform Resistance Technical Momentum Bullish Interest Safe-Haven Asset Geopolitical Instability
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