Silver Price around $33.40
The white metal now seems poised to advance further towards last Friday’s swing high, around the $33.35-$33.40 zone before aiming to reclaim the $34.00 round-figure mark.
Source – FXStreet
Silver
Focusing on silver investments/collecting
Gold continues to climb, tariffs increase demand
Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.
Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).
“We are in a state of unusual-heightened uncertainty… the catalyst is the tariffs and trade talks or threats that are going on around the world,” which is supporting the prices, said Paul Wong, market strategist at Sprott Asset Management.
Among other metals, spot silver, used in electrical components, shed 0.7% to $32.64 an ounce, which aims to challenge a 10-year high.
Platinum declined 2.1% to $966.65 and palladium eased 1.9% to $968.43.
Source – Reuters
Vizsla Silver Gets a Buy from CIBC, shares open
In a report released today, Cosmos Chiu from CIBC maintained a Buy rating on Vizsla Silver (VZLA – Research Report), with a price target of C$5.00. The company’s shares opened today at $2.28.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vizsla Silver with a $3.26 average price target.
Source – Markets Insider
Gold, Silver, Platinum Forecasts
Gold
Gold tests resistance at $2930 – $2940 as traders bet that demand from central banks will stay strong in the upcoming months.
Silver
Silver gains ground as traders react to the strong performance of gold markets. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.
Platinum
Platinum is stuck near the $1000 level as traders wait for additional catalysts.
Source – FXEMPIRE
Gold and Silver are trying to stabilize after selloff
Although gold and silver saw disappointing price action on Friday, experiencing their worst daily loss since mid-December, some analysts note that the damage to the broad rallies has been limited.
The gold market started the week holding initial support around $2,880 an ounce. Spot gold last traded at $2,896.50 an ounce, up 0.50% on the day. Silver is also finding solid support, as it has bounced off its overnight lows just below $32 an ounce. Spot silver last traded at $32.20 an ounce, up 0.20% on the day.
Alex Kuptsikevich, Chief Market Analyst at FxPro, said in a note that gold’s price action has become a little more complicated following Friday’s selloff, as buyers have become more cautious.
Source – KITCO News
Silver prices close to $35 mark
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
Silver sees 10-year peak
“Silver’s been a laggard, and some would refer to it as the Cinderella metal, because it always misses the ball. Having said that, silver has finally woken up and broken above some key technical resistance,” independent analyst Ross Norman said. If current momentum continued, silver could challenge the $35 level, he added.
“Silver has a long history of higher volatility than gold, and that when gold makes a decisive move, silver’s amplitude is usually 2.0-2.5 times that of gold,” StoneX analyst Rhona O’Connell said in a recent note.
Source – Reuters
Gold-Silver Ratio exceeds 90:1
Gold has reached new all-time highs, and the gold-to-silver ratio now exceeds 90:1. Such a high ratio has often signaled an impending breakout for silver prices. It indicates that silver could be undervalued, and we may be on the verge of a major price surge. Sometimes, if you miss a price run-up for gold, you can make up for it by buying silver instead as it catches up to its yellow cousin.
Source – Seeking Alpha / SchiffGold
Sir Paul McCartney gold and silver coins put up for auction
One gold and four silver pieces are being made available for collectors, the Royal Mint said, and they will be presented through auction via Stack’s Bowers Galleries.
“Each coin available at auction is a testament to the exceptional skills of our craftspeople at the Royal Mint.
“Taking hundreds of hours to produce, the masterworks crafted from gold and silver feature highlights from Paul’s career and his journey to becoming one of Britain’s most successful artists in history.
“The impressive five-kilogram gold coin has also been hand signed by Paul during his Got Back tour at the end of last year – a symbol of his personal seal of approval of this iconic one-of-one piece.”
People can bid for the coins online up until March 19, when the auction ends, with bidding starting at one US dollar.
Source – The Irish News
Gold Holds Near Record, Silver rallied
Silver climbed as much as 3.1% to exceed $33 an ounce, while gold headed for a seventh weekly gain — the longest run since August 2020.
The president has already imposed 10% levies on Chinese goods and plans to slap 25% duties on all US steel and aluminum imports next month.
Spot silver rose 2.9% to $33.284 an ounce by 1:20 p.m. in London, taking this week’s gains to 4.6%. The Bloomberg Dollar Spot Index fell 0.2%. Gold, platinum and palladium were little changed.
Source – Bloomberg