Precious metals have always held a position of importance in the global economy. In recent times, we are witnessing a significant surge in the prices of copper, gold, and silver. This increase can be primarily attributed to several factors.
1. Higher Demand: With industries orienting towards electrical vehicles and renewable energy, the demand for copper and silver, used in these technologies, has seen a steep rise. Gold, often considered a safe investment, is witnessing an increased demand due to the uncertain economic outlook.
2. Currency Devaluation: Precious metals often act as a hedge against fiat currency. The recent dip in major global currencies has led to investors flocking towards these metals, thus driving up their prices.
3. Economic Policies: Stimulus packages and low-interest rates to tackle the effects of the pandemic have increased liquidity in the market, positively impacting metal prices.
Given these factors, it is reasonable to expect the prices of these metals to remain buoyant in the near future. Read More
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