Peter McGuire forecasts gold $4,600, silver $70 as dollar weakens
Business
Gold and silver prices are on the rise, mostly thanks to a weaker US dollar and shifting Federal Reserve policies.
Peter McGuire, CEO of Trading.com says gold might climb to $4,600 by late August, while silver (which just jumped from $57 to $65) could soon hit $70.
Investors watch Fed, oil near $90
Recent US economic data hasn't been great, think slow job growth and weak retail sales, so the US dollar is losing strength.
Investors are now watching the Fed's next moves closely for hints about where things go from here.
Meanwhile, oil prices are stuck around $90 per barrel despite global tensions, as market sentiment stays cautious.