The worth of precious metals such as gold, silver and platinum has decreased because the rate of US dollar has recently strengthened.
Recently the prices of all the precious metals very enormously high and these high rates of gold, silver and platinum had caused an exceptional purchasing surge. Even the countries who mostly favor gold, turned to buy silver. But the economical and political condition of US is getting better and therefore the value of dollar is increasing. This fact has somehow affected the soaring rates of the precious metals. It seems like the investors will somehow turn towards investing into currency market rather than investing in to gold or silver.
The sudden rise in the value of dollar is mostly featured to the Greece’s demand of addition 60 billion Euros from the European Union, in order to take the Greece out of the financial turmoil. According to some business news reports the European Union will not offer financial aid to Greece in the future, regarding Europe’s bad financial condition. On the other hand it is also predicted that the value of US dollar will face a slump in the future and it is better for the investors to keep gold or silver as an asset.
According to the recent statistics the price of gold has fallen to 1.1 percent and the price of silver has fallen to 4.3 percent. It is probably the right time for the investors to sell their gold and silver because the prices of these precious metals can decrease further more.