Gold and Silver Follow Similar Trend to Bitcoin, React to News About China

With crypto prices moving after almost every positive or negative bit of news related to China, gold and silver markets have been reacting to such events as well. With some exceptions, the overall trend in their value has been negative since September. The prospects of both digital coins and precious metals seem to be more and more dependent on China’s growing influence.

Also read: When Bitcoin Overtakes Gold – How High Can It Go?

Prices of Precious Metals Decline Since September

Gold and silver have had a hard time recently, not unlike cryptocurrencies. Their prices have been generally falling in the past few months. From a seasonal high of more than $1,550 an ounce in early September, gold has dropped to a little over $1,450 in late November, while silver is currently trading at less than $17 an ounce, down from $19.5 a couple of months ago.

On Monday, gold prices dipped as much as 0.3% to $1,460.30 an ounce, while silver prices dropped 0.5% to…