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US Market Performance Increases For Precious Metals

Gold and silver are among the precious metals seemingly poised for a comeback, after both have had their worst US market performance in thirty years in 2013.

The past few months have, indeed, shown an increase in demand for gold bullion, resulting in a hike in price which has specialists very excited for this metal’s performance in the upcoming semester. Silver, on the other hand, saw the 15 percent gain it had previously managed to achieve evaporate, but experts believe this metal can also recover from that slump and produce a good performance in the market for precious metals in 2014.

The reasons behind experts’ predictions of success for both these metals are linked to outside events. Gold is expected to rise in price if Russia invades Ukraine, while silver is simply expected to rebound off its more valuable ‘cousin’, once again making their price levels parallel after a few months of discrepancy.

Other external factors, such as the elections in India, are also predicted to act in favour of the prices of both these precious metals in the American market. This is because, after the elections, India is expected to make the tariffs for the import and export of metals significantly more relaxed, overturning a measure instituted last year to control smuggling across the country’s borders.

As far as purchasers are concerned, China should continue to lead the ranks for buyers of gold, after last year’s price drop caused a surge in demand for the material in that Asian country.

Despite the encouraging tendency towards a rise in price, both gold and silver continue to fluctuate in terms of price in the US market. Silver has currently plummeted to a yearly low after reaching its highest point in February, while gold has dropped 7.3 percent from its market value in March of 2014, which had been the highest in six months.

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