Precious metal markets have shuddered during the last few weeks, as gold's price per ounce nears a six-week low hovering just under $1,700 per unit. Silver crashed through the $18 range slipping to $17.80 per ounce. While both gold and silver dipped between 0.85% to 0.89% against the U.S. dollar in 24 hours, platinum dropped 2.82% and palladium shed 4.18% against the USD during the last day.

Despite Scorching Global Inflation, Gold Hasn't Been a Safe Haven in 2022

While the entire world is suffering from red-hot inflation, many would assume that the world's precious metals would be a safe haven against the surging prices. That hasn't been the case in 2022, despite the U.S. and the Eurozone inflation rate rising above 9% this summer.