Gold and Silver Hit New ATHs Amid Building Market Momentum
Gold and silver are getting market-wide attention with their remarkable growth. In this respect, both silver and gold have touched their new all-time high (ATH) price spots. As per the data from Wall Street Mav, a popular crypto analyst, this rally has triggered considerable speculation of notable price action to take place in the crypto sector. Hence, the traders and analysts are anticipating a considerable bull run amid the Christmas holiday season.
Gold and Silver Claim Exclusive ATHs as Fed’s Rate-Cut Speculations Rise
Based on the new market data, gold is trading around an exclusive ATH of $4,453 per ounce. The respective price level highlights a 2.25% increase over the past 5 days. In addition to this, silver’s price has touched the latest ATH of up to 69.52 per ounce. The respective price accounts for a 3.97% gain over the same period.
Keeping this in view, the traders expect the U.S. Fed to cut rates after the latest issuance of economic data. In the meantime, U.S. President Donald Trump has continuously advocated a relatively accommodative monetary policy. These factors could play a crucial role in a potential crypto leg up in the near term.
Rising Demand for Precious Metals Underscores Potential for Crypto Breakout
Particularly, the rising demand for gold and silver indicates the renewed investor interest. Hence, over this Christmas phase, the crypto market is potentially preparing for a wide-scale rally. The respective outlook is reportedly evident in terms of buzz on the social media.
According to Wall Street Mav, silver and gold’s surge to new ATHs underscores the growing trader confidence. As a result, this jump is set to bolster crypto growth and adoption during the new holiday season. Thus, the market onlookers are keenly watching over the anticipated sustenance of cross-market rally.
You May Also Like
Why Vitalik Buterin Just Pulled 16,384 ETH From His Holdings
Record-breaking streak ends – Rabobank
