Sir
Why gold and silver are rising so rapidly ?
Even today, as U.S jobs data is better than expected ( which indicated more clearly that their will be more rate hikes ahead )
And their unemployment remained unchanged
I agree that fed’s powell indicated recently few times that they will going to slower the pace of rate hikes but they will keep them higher for longer and their are more rate hikes to come ahead
These all the factors are negative for gold amd silver as keeping money in gold is costing greater opportunity cost for investors
So why are these commodities are rising so rapidly ?
I guess it’s because of the fear of a recession which everybody is predicting.
Although equity markets are not supporting these predictions as they are making record highs.
However, the world bank has forecasted the weakest global growth in 2023 i.e 2.7% which was 6% in 2021, and the number of people getting fired from companies in the name of cost-cutting, and interest rate hikes all these may be a sign that recession might come as a result maybe this is a flight to quality .
I agree with your view , but why put money in gold and silver when we can shift money towards treasury ( safe haven + good yields )
And the U.S economy is not showing any signs of recession , last week their gdp is higher than expected and yesterday their unemployed stayed stable and jobs rising
Record sales on black friday and Thanksgiving , slowly focus is also fading away for Russia- Ukraine war