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.
Another reason why January is an active month for gold is that there’s a high demand in China, in which portfolios built are rebalanced with investor allocations every start of the year ahead before the Lunar New Year holiday. In this case, gold can be an essential asset to consider at the beginning or end of a year. Silver also shares the same turbulent ride at the start of the year.
Advice to Investors
Investors should consider important factors such as the thin liquidity during the early times in the year, exaggerating price moves. It’s tricky to read recent moves and make analysis early this time. Of course, investors should be extra cautious about sustainability and volatility of the impacts of geopolitical uncertainties on gold prices.
When geopolitical uncertainties decline, it could result in swift unwind gains. However, further escalation would increase the demand for gold. It will strengthen gold as one of the most diversified portfolios. Silver’s price is $17.87 per ounce on January 17.
Landmark Financial Tokyo review every opportunity to increase investments and gain income. The increasing clamor of investors for gold and silver is primarily influenced by the US and Iran tension that shocked the world during the first week of January. While prices of gold have a solid start, the continuity will depend on the price responses around $1,555. If this price shows reliable support, gold will increase at $1,600. You can decide to wait and see during the coming days, and you can establish if gold and silver are suitable investments or not.
The post Landmark Financial Tokyo Review of Gold and Silver in 2020 appeared first on Over Head Productions.
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