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Silver hits record high, gold rises, influenced by industrial demand and Fed rate decision.
Summary
Silver prices reached an all-time high of over $60 per ounce due to strong industrial demand and supply constraints. Gold prices also rose, influenced by anticipation of the U.S. Federal Reserve's interest rate decision. These movements are significant indicators of economic trends.
Key Points
- Silver price surged to over $60 per ounce.
- The rise in silver prices is attributed to strong industrial demand.
- Gold prices increased ahead of the U.S. Federal Reserve's interest rate decision.
- Analysts predict continued upward momentum for both precious metals.
Full Article
Gold prices edged higher as traders anticipated the U.S. Federal Reserve's interest rate decision. Meanwhile, silver surged to an all-time high of over $60 per ounce, driven by strong industrial demand expectations and persistent supply constraints. Analysts predict continued upward momentum for both precious metals.
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