Why Are Gold and Silver Prices Up Today?
Photo: CaptainAltcoin
Gold and silver are both rallying strongly today, with gold up around 3% and silver gaining more than 4%. Spot gold traded near $4,040 on November 4, while silver climbed to roughly $51.85. The biggest driver appears to be the U.S. midterm election result. Democrats made sweeping gains, and markets reacted with a weaker U.S. dollar and lower Treasury yields. That combination is usually supportive for precious metals because gold and silver become cheaper for overseas buyers, while lower yields reduce the opportunity cost of holding non-yielding assets.
Source: CaptainAltcoin
