Reported 15 days ago
Gold and silver prices have surged to near-record highs, with gold exceeding $4,220 per ounce and silver surpassing $53 per ounce. Wall Street analysts anticipate further growth, suggesting that a small shift in foreign asset allocations into gold could push its price up to $6,000 per ounce. The rise in precious metals is attributed to increasing domestic and geopolitical tensions, with investors seeking safe-haven assets amidst fluctuating equity and bond markets. Analysts also predict potential short-term corrections, but expect long-term bullish trends for gold and silver.
Source: YAHOO