Silver in free fall
Silver, which usually tracks gold because of the safe-haven appeal of both, has massively fallen 27 percent over the last 7 days.”I’m just a little surprised by just how far gold has gone, but it’s something that we have warned about,” Paul Walker global head of precious metals said yesterday.
For the past five years, the gold price has been propped up by investor interest, and over the last few days that interest has moved back to the world’s reserve currency, the dollar, he said.
“In times of real fundamental uncertainty, the currency of choice is still the dollar,” Mr Walker said.
