Miner Company
Silver Tumbles 8%, Gold Also Dips Amid Mixed Messages On Iran Negotiations
Gold has lost about 15% of its value since the beginning of the Iran war, while silver has dropped as much as 25%, bucking conventional wisdom that international crises lift metals prices, which are viewed as “safe haven” assets. Analysts from Sucden Financial said last week gold and silver are trading “in negative correlation with oil” as oil and energy prices surge, adding that “bullion may find some support from geopolitical uncertainty, but as long as oil absorbs the main safe-haven bid, ups
Gold has lost about 15% of its value since the beginning of the Iran war, while silver has dropped as much as 25%, bucking conventional wisdom that international crises lift metals prices, which are viewed as “safe haven” assets. Analysts from Sucden Financial said last week gold and silver are trading “in negative correlation with oil” as oil and energy prices surge, adding that “bullion may find some support from geopolitical uncertainty, but as long as oil absorbs the main safe-haven bid, upside will likely remain constrained.