IAUM - Silver Is The Metal To Watch
2024-02-19 11:37:44 ET
Summary
- Gold maintains support at $2,000 per ounce despite downward pressure from high consumer and producer prices.
- Analysts anticipate future rate cuts by the Federal Reserve, providing long-term bullishness for gold.
- Silver shows resilience and upward momentum, with a 7% increase from its lows, outpacing gold in the upcoming week.
Fundamentals:
Escalating inflationary pressures have exerted downward pressure on the gold market, although it maintains crucial support for now, as per analysts' observations. Despite concluding its second consecutive week with losses, gold has rebounded from its nadir, notably clinging to the critical $2,000 per ounce level. April gold futures were last recorded at $2,025.60 per ounce, reflecting a marginal decline of 0.64% from the previous Friday....
Silver Is The Metal To Watch