Precious Metals Market Update July 2nd

Precious Metals Market Update July 2nd – Buying Uncertainty

Jul 02, 2024Jeremy ParkinsonFinance, No picture0

Image Source: UnsplashAt present, gold and silver seem to have established a solid footing at their current price levels. While demand from China’s retail market has softened, increased demand in North America is compensating for the shortfall.Sales Volumes Rise in Q2 – Many retailers in the North American market, including SWP, experienced strong sales volumes in Q2, with a noticeable increase in large gold and silver transactions and deposits among their clients. The World Gold Council reported in their June newsletter that “Gold ownership is on the rise among North American professional investors.”Uncertainty Looms Large – The world is still dealing with two major ongoing conflicts, further complicated by widespread deficit spending among almost all governments. Many of these governments face divisive political elections this year, including France, the UK, and the United States. Extreme right and extreme left parties are battling for more power in these influential countries, likely resulting in a period of significant policy change and further uncertainty, at least in the short term. Gold and silver will continue to provide investors with a safe haven against risk.As I’ve often said throughout my career, I firmly believe that the potential upside for precious metal prices to rise far exceeds any potential downside price risk. This is especially true as we continue to experience the effects of inflation, conflict, and questionable government actions.More By This Author:North American Market Getting Onboard With Gold
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