Trade Precious Metals and keep a close link to the outlook of the global economy.
The precious metal is seen as a “safe haven” due to its proven store of value and market utility. Unlike fiat currencies or other assets, there is no risk of it becoming worthless. For this reason, during times of economic uncertainty, traders rely on this asset.
Remember the time when the US dollar was backed up by Gold? Those times have passed a long time ago, but the asset is still being used today as a back-up, against inflation.
Gold is still the number one choice for most investors, followed by Silver, Palladium and Iridium.
Other factors that create market movements in the metal’s price are main aspects of the global economy, such as inflation, GDP growth, refinancing rates and decisions made by global central banks.
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