The prices of gold and silver are always moving, influenced by factors such as current events, market speculation, currency fluctuations, and supply and demand. In 2016, there were several events that influenced the highs and lows of the gold and silver market. For investors, staying on top of these fluctuating prices is crucial to financial success. Here are some of the events that affected the market the most:
Brexit
The British EU Referendum results were announced on Friday, June 24, 2016, and pushed gold to a 2-year-high. After the announcement that the UK would exit the EU, the price of gold climbed 4.7% to $1,316.05 an ounce by 11 a.m. in London. In the US, the price of gold rose by 8.2% to $1,358.2 an ounce before settling around $1,325 per ounce.
This post was published at Schiffgold on DECEMBER 28, 2016.
Follow on Twitter
Recent Comments