The prices of gold and silver prices show moderately higher results in midday United States futures trading on January 7, 2020. Because of overnight downside price corrections, it looks like a great buying opportunity, in which prices increase during the day session.
This Landmark Financial Tokyo review of the silver and gold prices in 2020 will discuss valuations and investments. Read on to know more about them.
Gold and Silver Drastic Price Increase
Gold price futures at $4.60 per ounce last February ended at $1,573.30. For silver, the previous higher prices were $0.201 last March and ended at $18.375 an ounce on January 7, 2020. There are a lot of factors that could affect these prices. There’s speculation that if the tension in the Middle East gets worse, gold could hit $1,600 per ounce.
The United States and Iran Tension
Gold soared high as the Middle East tensions heightened between Iran and the United States. The drone airstrike of the United States killed Qasem Soleimani, an Iranian general, in Baghdad, Iraq. This incident boosted the appetite of investors for gold, and the rise shows that.
Many investors and traders probably think that Iran won’t retaliate against the United States that could be devastating to their country. Some veteran market watchers believe that Iran will retaliate but not sooner. The economic effects of the US and Iran retaliation can be impacting as what you’ll find on Landmark Financial Tokyo Review.