The "coup" that failed by Russian mercenaries over the weekend has some ramifications geopolitically and monetarily. This includes gold and silver spot prices.
This has resulted in rises in gold and silver.
From Kitco News:
(Kitco News) - Gold and silver prices are higher in early U.S. trading Monday, on safe-haven buying following an aborted insurrection in Russia that has left the nuclear armed nation’s military destabilized and has the rest of the world wondering what happens next. August gold was last up $12.50 at $1,942.10 and July silver was up $0.521 at $22.875.
Geopolitics is back on the front burner of the marketplace following the weekend coup attempt in Russia that has at least temporarily been averted. Still, risk aversion is elevated to start the trading week. It appears Russian President Putin has seen his once-powerful authoritarian grip on his country loosened significantly, which has destabilized the Russian military. The marketplace will continue watching this situation very closely as its geopolitical implications are huge.
It will be interesting to see what the future holds.
To read more, go here.
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