Gold and silver have slowed their upswing on Wednesday, though this week so far has been a positive one for precious metals. This week, investors have been preoccupied by the possibility of the US armed forces intervening in Syria. Not only that, but the Indian Rupee and other Asian currencies are still at risk of depreciating and even though the Asian currency crisis has evaded the news in the past few days, it is still a cause for concern.
The demand for gold and silver has been steadily increasing over the course of the past few weeks, and as such so too has the spot values of both gold and silver. This week is already shaping up to be a positive one for precious metals, and there is no telling when this upward ascent will cease.
Looming Increase of Violence in Syria
Over the past two years, Syria has been host to a brutal civil war which has claimed thousands upon thousands of lives. Groups of rebels have been fighting the government regime and during the course of that violence, a shocking number of innocent lives have been lost. The world, for the most part, has looked on as violence rages in the Middle East because, for most, violence is perceived as a “normal” thing for those living in the Middle East.
More recently, however, there have been reports and accusations surfacing claiming that the Syrian government has engaged in the use of chemical weapons against its own citizens. Due to this, the United States is on the verge of military intervention in Syria. This possibility scares many people because should the US expand their military presence in the Middle East further, it could have possibly dangerous ramifications for everyone involved.
The thought of US military personnel in Syria has struck a fear in the marketplace which has caused investors to get rid of their stock holdings and latch on, more readily, to an investment in gold or silver. Not only have spot prices of gold and silver been on the rise, the price of another commodity, crude oil, has risen quite a bit due to a fear that increased violence in Syria may restrict shipments of oil out of the region.
As of now, the world is simply sitting back and watching things develop as word on the street holds to the belief that the US will be in Syria by the end of this week. Whether that is true or not remains to be seen, but for so many people this situation is incredibly important.