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Gold Rallies With Silver as Historic Rout Lures Back Dip Buyers
Gold and silver rebounded after a historic collapse from all-time highs lured dip-buyers back to precious metals. Spot gold climbed as much as 6.2% to more than $4,950 an ounce, recovering somewhat from its worst rout in more than a decade. Silver rose more than 12% — trading above $89 an ounce — as a risk-on tone returned to wider markets and the US dollar weakened. The two precious metals soared last month in a rally underpinned by speculative momentum, geopolitical upheavals and concerns about the Federal Reserve’s independence. The surge came to an abrupt halt at the end of last week, with silver seeing its ... (full story)
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