Silver price soars almost $3 US dollars, or close to 5.50%, on Wednesday as traders digest the results of the US midterm elections, which resulted in a Democratic sweep, aimed at being a counterweight to US President Donald Trump. The XAG/USD trades at $52.39 after jumping off daily lows of $48.96.
Gold clings to previous day’s recovery around $3,945 in the Asian trade on Tuesday, as hopes of a deal between the United States (US) and Iran have kept oil prices under pressure. Still, the Gold price is close to its yearly low of $3,870.23 posted on Friday.
West Texas Intermediate (WTI), futures, on NYMEX, is down 2.25% to near $99.80 during the European trade on Monday. The oil price extends its correction that started after failing to progress the rally above $104.03, the five-month high posted on Friday.