Diego Mora, research manager at XTB Latam, explained that precious metals “are invariably gaining ground in anticipation of new interest rate cuts in the United States and other economies around the world.”

The price of gold, the preferred commodity for investors as a safe haven asset (as it allows them to diversify the risk of traditional investment portfolios), is reaching new highs.

But it is not the only precious metal that is shining thanks to a bullish streak: silver, today, showed considerable appreciations.

In the case of gold, increases of more than 0.8% were observed today, which with its range pushed the ingot above US$ 2,675 per ounce.

In the case of silver, the scale of appreciation was greater, reaching 2.2%, exceeding US$ 32.5, its highest level since 2012.

Diego Mora, research manager at XTB Latam, explained that precious metals “are invariably gaining ground in anticipation of new interest rate cuts in the United States and other economies around the world.”

In fact, he added, these forecasts "have clearly accelerated since the beginning of the month following Powell's dovish comments on the recent decision to cut the US interest rate by 50 basis points, compared to expectations of 25 points."