Gold and Silver Prices in Downtrend as Crude Oil Rallies and Dollar Strengthens

On Friday, April 24, both gold and silver prices experienced a slight downtrend that marked an end to the surge they had been enjoying. The two precious metals were put under pressure as the dollar gained strength and oil prices started to rebound.

After seeing record highs earlier this year, gold and silver prices have started to face headwinds. This correction is due, in part, to the recovery of the commodity markets, particularly in the oil sector, and the increase in strength of the U.S. dollar.

The fall in silver and gold prices could be a temporary phase as investors are on the look out for safe havens amid global uncertainties. Read More