Recent global conflicts have driven investors to seek safe-haven assets like gold and silver, causing an uptick in demand.
Via Metal Miner Precious metals like gold and silver are often seen as a safe haven asset during times of economic uncertainty. In recent weeks, we have witnessed a significant increase in the number of global conflicts, imposing high uncertainty and risk among markets for investors. Still, the jury is still out on how this will affect precious metal prices as a whole.
When the Hamas-Israel conflict began, they bounced back over $1900/oz, demonstrating just how much the war is a major driving force for recent price action in this market. The Dollar Index, the Fed, and Precious Metal Prices Prices for the dollar index also increased significantly over recent months. DXY prices increased about 7% since July 2023. This indicates a potential flow of investors pouring in due to anticipated rate hikes from the Fed.
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