The swing of the gold and silver prices on international markets is once again experiencing a turning point in the wake of the price dynamics that emerged between May and June. First a clear increasethen between the end of May and the beginning of June a decline characterized the two noble metals.
Market dynamics
True-News has collected the opinion of Michael Hall, Head of Distribution at Spectrum Markets, according to which market data “shows a bullish trading behavior in favor of both underlying precious metals available on the venue: gold and silver”. A trading that appears different from that of the first months of the year, the period of the maxi-rally in prices of the noblest of metals especially, when towing the market was the moves of the central banks.
During the month of May, Hall notes, “gold prices fluctuated, reaching a peak of $2,449 an ounce on May 20, before falling to $2,325 towards the end of the month. This decline created a buying opportunity for investors and was likely a key driver of bullish sentiment.” And, Hall reports, “The price of silver also reached a record high of $32,391 an ounce at the end of May. However, individual investors remained bullish.”
Gold on the rise
The strategic data is linked to the node ofgold. The price of which has historically increased when it was requested as a safe haven asset, but in recent times the trend has changed. Central banks have accumulated gold to protect the currency exchange and for reasons of strategic sovereignty over the reserves, which have become an instrument of comparison between the powers. Today, however, it is the attractiveness of gold induced by the dynamism of its market to stimulate growth that is… market-related. To which it is added volatility induced by uncertainty about rates. Which will make gold stay high for a long time. And in moments of bullish rally someone on the stock market will do everything they can to make profits.
