The precious metals market continues to display resilience despite the Federal Reserve Chairman, Jerome Powell’s, hawkish stance. While some investors may have anticipated a falter following Powellâs hawkish tone, Gold (XAUUSD) and Silver showed signs of substantial bullish bias.
Indeed, the hawkish sentiments broadcasted by Powell failed to weigh down the metals’ rally. This may be observed as a testament to the inherent strength that both Gold and Silver continue to exhibit in the market.
The prognosis for both assets remains positive, underscored by various factors. Chief among them are economic and political uncertainties plaguing the global stage. Moves by investors to hedge against inflation and the depreciation of fiat currencies have further powered the demand for these assets.
In the coming weeks and months, the upside potential for both metals appears robust. Despite external pressures, investors can anticipate a continued bullish trend for Gold and Silver prices. Read More
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