4 Forces Supporting the Current Rise of Precious Metal Prices
On Monday, precious metal prices ticked upwards. Gold reached $4,362 an ounce, marking gains of approximately 3.4%. Silver’s price hit $71.2 an ounce, a rally of about 4.7%. We look at some of the key factors that are driving this rally in precious metal prices as this week progresses. Crude oil prices dropped once a peace deal was signed between Iran and the United States. The signing of that truce caused West Texas Intermediate (WTI) crude to drop to $80 per barrel, which is the lowest price it has traded at in nearly three months. High oil prices stoked inflation,…