The Gold bullion has crossed the crucial psychological mark of $1,700. Unless the virus is contained, concerns over a global recession will remain elevated and should result in lower interest rates which is bullish for Gold over the medium term. To add to the virus scare, the turmoil in oil market, prompted a further sell-off in equities while US 10Y treasury yields plunged.
Dips in the metal can be considered as buying opportunities, as the lower yield and interest rate environment supports the non-yielding metal.
Gold trading is considered as a form of insurance, as the metal is considered a safe haven in times of financial turbulence, since it is not at risk of becoming worthless, unlike currencies or other assets bearing credit risk. Also, gold futures ended 2019 at around $1,523 an ounce, up nearly 19% for the year—marking the strongest yearly performance for the yellow metal since 2010.
?Gold trading have been very popular in this part of region due to its historic volatility. We help you with global gold stock market updates with our analysis and dedicated support. Apart from gold trade into spot and gold future contracts you can also look at companies that mine gold and gain indirect exposure to gold stock market.
Newmont Goldcorp Corporation
Barrick Gold Corp
Kinross Gold Corp
Torex Gold Resources Inc
Pretium Resources Inc
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Trading in precious metals like silver is a popular way of diversifying a portfolio.Silver is one of the most precious metals, valued both as a form of currency and store of value.The virus crisis have kept all precious metals under pressure however, never in history has it required 124 ounces of silver to equal the value of a single ounce of gold, until today, making silver a potential buy for many investors using the ratio.
Hedge against inflation
Diversify your portfolio with silver
Industrial demand for silver is growing
Silver inventories are falling
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