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Precious metals have really been on fire these past couple of days. Spot gold has been soaring all the way up, breaking through the $4,560/oz mark yesterday to set a new all-time high. As of the latest quote, the gold price stands at $4,562/oz, with a single-day increase of 1.2%.
It's not just gold. Silver's performance is even more aggressive — soaring to $82/oz in one go, with an intraday gain of an astonishing 2.6%. The New York futures market is also strengthening in tandem, with an intraday increase of over 3%, currently quoted at $81.78/oz.
Against the backdrop of ongoing macroeconomic uncertainties, investors' enthusiasm for safe-haven assets has clearly increased. This sustained rally in precious metals also subtly reflects a shift in market risk appetite. For traders focused on macro factors, the movements in precious metals often reveal some interesting market signals.