Gold and silver prices soar to new highs as the yellow metal reemerges as a hedge
It comes as fiscal deficits and the race for the next chair of the Federal Reserve weighs on investors' minds.
TL;DR
- Gold and silver prices reached new record highs on Monday.
- Investors are treating gold and silver as safe haven assets amidst economic uncertainty.
- Concerns over fiscal deficits in the U.S., U.K., Europe, Japan, and China are contributing to the rise in gold prices.
- Gold's value as a monetary hedge has reportedly re-emerged.
- Silver prices have also seen significant gains, tracking gold's performance.
- U.S.-listed shares of gold and silver miners increased in premarket trading.
- Investors are also watching the nomination for the next Federal Reserve chair and wage inflation.