`Rocketing' Silver Completes Best Month Since 2013 as Gold Rises
- Silver touches one-year high and has rallied 15% this month
- Precious metals gain as dollar drops on U.S. rate outlook
Shortreid: Gold A High Yield Asset With Negative Rates
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Silver had the best month since 2013 amid the dollar’s slump and an improving outlook for industrial demand. Gold surged to the highest in more than a year.
All precious metals rose as a gauge of the dollar touched an 11-month low after weaker-than-expected U.S. economic growth cut prospects for higher interest rates, adding to the appeal of non-yielding assets. Traders now see less than a 50 percent chance that the Federal Reserve will raise borrowing costs by November, according to Fed fund futures data tracked by Bloomberg.