Financial Times: Gold and silver fever grips investors
Financial Times writers Jennifer Hughes, Jack Farchy and Gregory Meyer team up to report on surges in demand for precious metal coinage as fears regarding major currencies such as the U.S. dollar rise:
Retail investors are showing particular interest in silver coins in many countries, including the US. Last month the Utah state legislature passed a bill accepting US gold and silver coins as legal tender and other states are considering similar legislation in a direct rebuke to the Federal Reserve and its ultra-loose monetary policy.
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“Utah has crossed the Rubicon, others are likely to follow suit,” says Daniel Brebner at Deutsche Bank.
Analysts and investors now see $1,500 gold and $50 silver as likely to be breached in the coming months, as the potential for looser monetary policy for longer in the US weighs on the dollar.