আরও দেখুন
19.06.2023 01:10 PM
Investors in both gold and silver focused on the recent decision of the Federal Reserve, which was announced at the FOMC meeting on Wednesday. According to the Fed's decision, interest rates remained unchanged. However, the monetary policy outlined this year will still include rate hikes and the maintenance of elevated rates until the end of the year. Based on the Federal Reserve's "dot plot," federal funds rates will increase to 5 a% and 5 %.
After this news, silver closed in positive territory, while gold remained unchanged
If we analyze the charts from the last week of May to the current price, both metals have recovered from a significant price decline that began in the first week of May. However, since May 26, the percentage increase in silver is nearly three times higher than that of gold.
There are several reasons for silver's outperformance over gold: it has an industrial component that gold lacks. The recent rise in U.S. stocks, particularly the high-tech composite NASDAQ, has fueled increased demand for silver.
Despite both metals being considered safe-haven assets, gold is the primary precious metal used, making it more sensitive to interest rate increases.
It is still unknown whether silver will continue to outperform gold, but looking at both precious metals, it becomes clear that silver has surpassed gold in terms of percentage returns and overall profits.
Even though gold and silver prices declined last week, the short-term indicators for silver have outperformed the recent rise in gold.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
