Silver prices surged to $33 per ounce on Friday, hitting their highest since late October at $33.41, fueled by factors driving gold to record highs.
London Bullion Market Association data revealed an 8.6% drop in silver inventories to 23,528 tons in January, the largest monthly decline since 2016.
Despite bullish trends, analysts caution against silver’s volatility, noting its price movements often exceed gold’s by 2-2.5 times.
Source – Econo Times
Gold prices rose on Monday, supported by a weaker U.S. dollar ahead of U.S.-China trade talks aimed at resolving tensions, while platinum extended gains for a sixth straight session to scale a four-year peak.
Spot gold rose 0.4% to $3,323.71 an ounce, as of 0806 GMT, after dropping earlier in the session to $3,293.29, its lowest level since June 2.
Spot platinum rose 3% to $1,210.80, its highest level since May 2021.
Spot silver was up 1% to $36.3 per ounce, while palladium rose 2.3% to $1,070.97.
Source – Reuters
Shares of Aya Gold & Silver were down Friday after the company reported lower silver production than analysts expected in the fourth quarter.
The stock retreated 15% to 10.85 Canadian dollars ($7.58).
Silver production in the fourth quarter totaled 491,310 ounces, compared with 450,046 ounces in the same period a earlier.
Source – Market Watch
ANZ raised its zero to 3-month gold price forecast to $3,100 per ounce and 6-month forecast to $3,200 per ounce, according to a research note on Tuesday.
For gold “we maintain our bullish view, amid strong tailwinds from escalating geopolitical and trade tensions, easing monetary policy, and strong central bank buying,” the bank said.
Source – Reuters
Indonesia has restricted raw material exports to pressure companies to refine minerals locally and add value to its exports. Freeport has local refining capacity, but is seeking to keep exporting concentrate due to a fire last October at its Manyar smelterin East Java.
Should exports resume, it will relieve, although not reverse, a shortage of copper concentrate that has hit the profits of smelters.
Source – Reuters
Gold prices rose more than 1% on Tuesday as a weaker dollar and uncertainty over U.S. tariffs, along with concerns about the country’s fiscal outlook, drove investors towards safe-haven assets.
Spot gold climbed 1.4% to $3,349.32 an ounce by 1203 GMT while U.S. gold futures jumped 1.6% to $3,361.70.
Spot silver firmed 0.9% to $36.41 an ounce, platinum was down 0.1% at $1,351.80 and palladium gained 2.5% to $1,124.79.
Source – Reuters
