Reported about 7 hours ago
Gold and silver futures in New York surged as traders anticipated potential tariffs on these precious metals proposed by US President-elect Donald Trump. Gold futures traded up to $60 an ounce higher than spot prices, while silver increased by over $1 an ounce. Concerns over possible tariffs led some market participants to cover short positions to mitigate potential losses, as the risk of losing significantly on gold prices outweighed the cost of covering these positions.
Source: YAHOO