Volatility persisted in the crypto market on Thursday as the day started with prices in a downtrend, only for the outlook to improve in the afternoon as Bitcoin reclaimed support at $62,000. - Gold and silver prices are solidly higher in midday U.S. trading Thursday. Silver is leading the way and hit a three-week high.
- While central bank buying has been supportive of gold prices, interest rate cuts later this year could send the metal higher, said Jeff Clark, editor of the TheGoldAdvisor.com.In early May Clark spoke to Kitco Mining at Deutsche Goldmesse in Frankfurt, Germany.Gold has hit several all-time highs this attributed to strong central bank buying.
Bitcoin is struggling to hold support at $61,000 in early trading on Thursday as the absence of any major catalyst has traders unenthused while ETF flows are flat. - While the Federal Reserve is delaying rate cuts due to inflation, the economy is still getting lots of support, noted Eric Strand, founder and portfolio manager of AuAg Funds.
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