Gold Advances on Signs of Inflationary Pressure

The pressure resulting from the possibility of a strong rise in the inflation rate in the United States is being reflected in a greater bet by investors on assets considered safe haven, which is reflected in the rise of precious metals, such as gold and silver.

Counterbalancing the pressure exerted by inflationary fears that have now been reinforced by the unexpected sharp rise in the US consumer price index are the repeated assurances from the US Federal Reserve that such risks of a sharp rise in inflation are only transitory in nature.

Either way, this Friday gold is up 0.32% to $1,832.61 per ounce in the gold metal's second straight rise. Silver, meanwhile, is gaining 0.38% to $27.1945.

Share this article

Leave a Reply

Your email address will not be published.