Near future of precious metals such as silver and gold seems cloudy. Prices on these shiny metals are declining as a result of dollar’s rally. The dollar went up high by 6 percent last month and at the same time, gold fell by 11 percent.Gold and silver, the most sought after precious metals are also projecting an uncertain future. Gold has been considered as the strongest commodity that yields the highest financial benefits is also now felling after three weeks during which it enjoyed the top position. The demand for precious metals as an alternative asset, including gold and silver has now reduced noticeably.
According to the traders in market, dollar is overshadowing the gold prices. Due to uncertainty and remarkable fluctuations in gold and silver prices, the investors are holding themselves back from parking their money in precious metals investment markets. The market is lacking the rush of dealers intending to buy or even sell the gold or silver they already have. No investor is willing to en-cash or get the benefits of trading in precious metals market as the chart of prices show countable difference in the prices on silver and gold.
The reports reveal that silver futures for December delivery went down by 1.1 percent to $31.821 an ounce though the metal has gained 31 percent in the past 12 months.
Gold futures for December delivery also went down by 0.4 percent and settled at $1,676.60 an ounce on the Comex in New York.