Home / Business and Economy / Dollar Dives, Gold & Silver Soar on Fed Fears
Dollar Dives, Gold & Silver Soar on Fed Fears
28 Jan
Summary
- Gold nears $5,200/ounce, silver surges nearly 50% in January.
- US Dollar hits lowest level since February 2022.
- UnitedHealth stock plummets 20%, forecasts first revenue drop in 30 years.
The US Dollar experienced significant weakness, reaching its lowest point since February 2022, a trend President Trump viewed favorably for reducing the trade deficit. This currency depreciation provided strong support for Gold and Silver prices.
Gold was trading near $5,200 per ounce in the spot market. Silver, having already surged by nearly 50% in January, remained above $110 per ounce, with analysts predicting further gains.
On Wall Street, benchmark indices saw mixed performance. The S&P 500 and Nasdaq advanced, driven by tech stocks like Apple and Microsoft ahead of their earnings reports. However, the Dow Jones Industrial Average fell over 400 points.
