Gold and silver prices are having a strong Independence Day, even with the United States stock market shut down for the day.
Gold climbed 1.01 percent, or $13.51, to $1,350.21 per ounce. Silver prices rose 4.45 percent, or $0.87, to $20.41 an ounce. Silver even crossed $21 at one point before paring some of its gains.
Precious metals have been making considerable gains from a weak global economy, the Federal Reserve not raising interests, the Brexit fallout, a strong increase in Chinese buyers and a short squeeze.
In the last six months, gold has soared 24 percent, while silver has jumped 41 percent. Silver, though, has been one of the best futures performers of 2016 right next to soybean meal.
The general consensus is that both gold and silver still have plenty of momentum in the coming months. Some even believe gold could finish the year at $1,400 per ounce. Whether or not that happens, gold and silver have had an incredible year thus far.
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