Gold, silver rally on yield curve inversion

Wednesday, 14. August 2019 19:08

Gold and silver prices surged on Wednesday boosted by recession fears as yields on longer-term US government debt fell below short-term rates. The occurrence which often precedes recessions last happened 12 years and sent jitters throughout global markets, pushing investors into safe-haven assets.

Gold jumped 1.43% to $1,523.06 per ounce at 12:59 pm ET, while silver jumped 2.02% to $17.31 for one troy ounce. Meanwhile, platinum and palladium, precious metals mostly used in the automotive industry, sank 1.27% to $844.37 and 2.31% to $1.423.36 per ounce at 1:00 pm ET.

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Author:
Breaking the News / JC