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September 23, 2020
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Bitcoin

Silver for at most four years |

The BTC rate has just started to rise. Interesting movements can also be seen in the silver and gold markets. For the first time in four years, the price of 1 troy ounce of the former exceeded the $ 20 barrier. Anyway, in the last four months, silver has already increased by 77 percent. On the other hand, gold prices in dollars are today at the highest level for nearly a decade.

Silver with a new record

Today, silver-based futures are traded at just $ 20.75 per ounce. This means a price jump of 2.1 percent. on a one-day scale. It is important, however, because the prices of white metal thus reached the highest level since August 2016.

It is worth remembering, however, that during the recent pandemic, the silver rate dropped as much as $ 11.69 / oz. Thus, it flew to the lowest level in 10 years. Fortunately, the gold has increased by 77.5 percent since then. and as a result it is the most expensive in four years.

Gold continues to rise

Today, gold has hit $ 1,824.95 an ounce. So it is at the highest price level since September 2011. Only a hundred dollars is missing from the record 9 years ago.

It is interesting because ores are considered safe havens and grow during market panics and crashes. Especially at a time when the mood in the stock market is gloomy. Now it is quite different. Stock markets are gaining as if investors have turned a blind eye to the macroeconomic data and the uninteresting economic situation of the world’s largest countries. Not to mention the tensions between the US and China.

“A more likely motive is investors looking for assets that will benefit from the unprecedented wave of monetary expansion by major central banks. The US Federal Reserve and the European Central Bank have pumped several trillion euros and dollars into the market in the last five months alone, almost directly monetizing gigantic fiscal deficits. This monetary tsunami now raises the valuation of all assets – from stocks to bonds to gold and silver “

– he explains in the pages Bankier.pl Krzysztof Kolany.

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