Safe Heaven Gold Attracts Investments

Decelerating global economic growth

Global commodity markets witnessed volatility last week, during which CME gold futures hit a fresh six-year high of $1454.40 per troy ounce and silver rallied to 13-year high of $16.63 per troy ounce. Silver is outperforming gold after breaking a key resistance of $15.00 on CME, which has resulted in fall in gold/silver ratio to below 86 from an all-time high of 93.45 in June.

A global economic slowdown and an International Monetary Fund (IMF) report that US Dollar was overpriced by 6-12 percent weighed on the equity and currency markets, pushing gold and silver prices to multi-year highs.

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