The U.S. economy saw a dramatic rise in the precious metals sector. Prices of gold, silver and copper are reaching new highs, forcing investors to explore this area in depth and take advantage of the probability of achieving “stable” profits in the long term.
The rise in precious metals prices marks the beginning of a shift in market discourse, where investors are keen to explore robust investment alternatives rather than riskier and more volatile alternatives.
This pivot is primarily triggered by the erosion of US economic indicators, loss of consumer confidence in the dollar and swelling debt indicators, which could trigger a potential collapse of the US market and its economic prowess.
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Gold is currently showing signs of consolidation, signaling an imminent bullish surge. At press time, gold price is sitting at $2,379, up 0.77% in the last 24 hours. According to Trading View’s User Sentiment Index, the tool points to a “strong buy” signal, suggesting that investors are carefully exploring gold in all its forms.
The new gold price threshold is expected to exceed $2,500 as it continues to follow its current gradual trajectory.
Similarly, the surge in gold prices has mainly accelerated due to demand driven by global central banks. These global banks are pushing the price of gold to new highs with their continued buying spree.
“CBs’ quarterly gold consumption has soared since the start of 2022. In fact, the PBOC has now been buying gold for 17 consecutive months, and the Russian Central Bank will accelerate its purchases starting this month (the price increases , so its exchange rate increases). ). We can see parabolic movements if Western traders also mobilize! »
Likewise, the price of silver and copper also reaches new price milestones. According to Game of Trades, a notable financial panel on
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The price of copper, on the other hand, has also gained momentum, suggesting a new price stage that the metal will need to cross and sit on.
“There are many reasons to be bullish on copper in the long term, and one of them is this structural supply deficit which, combined with the lack of exploration and production we have seen, suggests that prices could appreciate further from here. with sufficient demand. A shared panel of X analysts.
However, high silver and copper prices also signal an impending inflationary crisis. According to Vlad Bastion, a renowned financial analyst at X, rising copper prices can lead to an economic crisis for technical sectors.
This can be mainly triggered by the high demand for copper which helps the manufacturing sector. High copper prices may signal slow economic progress, hindering technological and sectoral development in the United States.
Also read: Growing gold price dynamics spell trouble for US economy
reference: watcher.guru