Entrepreneur
Kurra Bewarse Username: Entrepreneur
Post Number: 3938 Registered: 05-2011 Posted From: 24.164.46.35
Rating: N/A Votes: 0 | Posted on Wednesday, January 19, 2022 - 4:21 pm: | |
Metals exhibiting strength in today's market (171.99 +2.60) Stocks have had a roller-coaster session, yet there has been some steady strength in the metals market today. Gold ($1840.60, +28.20, +1.6%), silver ($24.16, +0.66, +2.8%), platinum ($1033.60, +54.10, +5.5%), and copper ($4.47, +0.09, +2.0%) futures are all higher. There isn't a pinpoint factor for today's strength, yet there are myriad proximate causes for the relative strength: A weaker dollar, which makes dollar-denominated commodity prices more affordable for foreign buyers Underlying geopolitical angst contributing to some defensive positioning in hard assets The UAE has promised retaliation for a Houthi attack on an oil facility earlier this week Russia-Ukraine tension continues to simmer Weakness seen in the stock market and the bond market to begin 2022 has shifted attention to other asset classes perceived as providing relative value (gold, silver and platinum all registered declines in 2021) Interest in commodities as an inflation hedge Some budding momentum in a trade that is working outside the volatility of the stock and bond markets Related ETFs: iShares Silver Trust (SLV 22.32, +0.63, +2.9%); SPDR Gold Shares (GLD 171.99, +2.60, +1.5%); iShares Gold Trust (IAU 35.00, +0.50, +1.5%); Aberdeen Standard Physical Platinum Shares (PPLT 96.37, +4.84, +5.3%) |