#Gold Above $4,600 on Weaker 🇺🇸 Dollar, Debt Fears
New York futures rose 1.4% to $4,636.30 a troy ounce, on track for a weekly gain of 4.5%.
https://t.co/mEKi88i4Y9
You read that investors sold gold in the first quarter, and that's correct.
North American ETFs shed 15.7 tonnes. Europe 7.5. March lost 84.8 tonnes, the most since 2022.
Asia had its best quarter on record. Global holdings rose 62 tonnes. Western flows are not the market.
Billionaire Ray Dalio said investors should reduce their bond holdings and put as much as 15% of their money in #gold to hedge against the risk of a US debt crisis that he warns could be just three years away.
https://t.co/lQTATsFfC6
$SILVER traded above $69 an ounce Friday, on course for a third straight weekly gain, up nearly 75% year-on-year and 19% in the past month alone.
The move came after the Treasury said it would at least double long-term debt buybacks, sending yields and the dollar sharply lower.
Silver held its gains even after yields partly reversed Wednesday's drop, with the market questioning whether the fix is only temporary.