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Gold and Silver News
From Guardian Vaults
Gold & Silver Enter Technical Bull Market
Gold and silver have entered a technical bull market in recent weeks, with both metals rising by more than 20% off the lows of October 2023. The rally in metals caught quite a few investors off guard, although many of our clients were anticipating higher prices to come in 2024.
What is interesting about this rally is that there wasn’t a single obvious catalyst to the run-up in the gold price. The USD index was not showing a great deal of weakness, US Bond Yields moved higher and not lower. The geopolitical environment remained very concerning, however, there was no one major event that led to gold being bid through new all-time USD highs.
There were rumours of some very large long positions entering the gold options market in the lead-up to the rally, also strong central bank demand was seen as a factor. But many market commentators are still at a loss to the true driver/s of this new bull market.
The rally in metals has far outpaced the ASX year to date, as seen in the below chart, as gold still trades above AUD 3,550 and silver remains above AUD 42.50.
This Week’s Specials – Guardian Gold
For this week’s specials we have many 1oz silver varieties in stock of previous years, as well as the following:
100oz Silver Perth Mint Bars.
1kg Silver Guardian in stock and on sale.
Many small denomination gold coins with reduced premiums.
We also have the latest Perth Mint releases and 1oz PAMP Gold Varieties available to pre-order.
Simply click the image below to see live prices:
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