While the ongoing rise in the price of gold has captured all the headlines in recent months, there is no end to the skyrocketing prices across the commodities markets. For example, while coffee started the decade trading as low of 41.50 US cents per pound, it closed out last year trading at 244.50 cents per…
Gold has continued to make fresh all-time highs throughout 2010 as a weakening US dollar caused investors to look for a safer option in which to place their assets.
With gold at record highs, there is the temptation for traders to believe that the move is mostly finished. However, markets that make new highs are actually likely to keep going higher. Is this likely in the case of gold?
Iron ore is used essentially in the steel-making process. Iron ore is the raw material used to make pig iron, which is one of the main raw materials used to make steel. Around 98% of the iron ore mined in the world is used to make steel.
Gold is trading at all-time highs, while silver is still struggling down more than 20% from the top it reached in May.
For many traders, this makes no sense: they are both important precious metals and they usually trade in tandem. So what’s happening in the precious metals market?