The Case for Precious Metals is Still Going Strong

8:28 AM


July 11, 2016 --Metal prices finished last week higher and then rallied again in Asian trading this morning.

Investors are divided into two camps. One is discounting any turmoil related to the Brexit vote and piling into risk assets. The Bureau of Labor Statistics reported much stronger than expected jobs growth on Friday, and the S&P 500 index turned in its best weekly performance in a year.

But the huge jobs report apparently did nothing to alter the consensus that Fed officials will forego any rate hikes until fall -- at least. And these rock bottom interest rates have been bolstering the case for owning precious metals.

The other camp of investors is worried about financial turmoil in Europe and economic weakness combined with social unrest here in the U.S. -- and those investors have been running to perceived safe haven assets like bonds and gold.

Live prices at MoneyMetals.com show gold currently trading at $1,359.75 per ounce on the global market, and silver is coming in at $20.46.

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