Commodities
Precious Metals Reach Extreme Highs as Traders Eye Volatility
Gold and silver prices have reached extreme highs, prompting traders to be cautious of potential profit booking and volatility.
The precious metals continued their upward momentum in the Asian morning session, with gold trading around $4494.90 per ounce and silver at $66.678 range for September Futures.
The changing outlook for Federal Reserve monetary policy has been a key catalyst behind the rally, with lower interest rate expectations supporting demand for non-yielding assets like gold and silver.
However, high volatility, profit booking risk, and upcoming US inflation data could trigger a sharp two-way move in prices.