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Gold and Silver headed for weekly gain

ByVictoria

“The latest run-up in prices—in gold to an 11-week high near last year’s record, and silver towards resistance around USD 31—was triggered by Trump’s threat to impose tariffs on some of its major trading partners, including Canada, Mexico, Europe, and China.”

“Silver continues to recover from the deep end-of-year correction that saw the white metal tumble 17% from a 12-year high at $34.87 to a December low at $28.74. Besides renewed demand from wrong-footed short sellers in the futures market at the start of the year, prices have also been supported by… the fundamental outlook for a fifth consecutive annual supply deficit.”

Source – Seeking Alpha

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    Central banks back at it, jewelry fell

    ByVictoria
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    Central banks worldwide are on track to buy 1,000 metric tons of gold in 2025, which would be their fourth year of massive purchases as they diversify reserves from dollar-denominated assets into bullion, consultancy Metals Focus said.

    The price rally has so far kept purchases by central banks, a crucial category of demand, unaffected with the first-quarter buying in line with the 2022-24 quarterly average, Metals Focus said in its annual report on Thursday.

    Jewelry demand for bullion has been hit hard by the price rally. Gold jewelry fabrication fell 9% to 2,011 tons in 2024 and is expected to deliver a 16% slump this year with India and China accounting for much of this decline.

    Source – Reuters

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    Vizsla Silver Corp stock to “Outperform”

    ByVictoria
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    BMO Capital Markets has recently initiated Vizsla Silver Corp (VZLA) stock to Outperform rating, as announced on January 24, 2025, according to Finviz.

    Over the last six months, the stock has risen by 15.79%, and it has gained 6.28% in the previous three months. Currently, VZLA is trading at 9.64%, 16.82%, and 18.91% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.

    Source – BOV News

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    Peter Krauth: US$40 Silver in 2025?

    ByVictoria
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    “I think that given the setup right now, we have decent odds of returning probably — possibly — somewhere to that US$35 level before the middle of the year, and before we reach the end of this year we could probably touch potentially US$40 in silver,” he told the Investing News Network.

    Peter Krauth is the editor of Silver Stock Investor.

    Source – Investing News Network

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    Last years gold prices lead to this years strong prices

    ByVictoria
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    Gold prices made steady progress last year and have continued that with a very strong start to this year, said George Milling-Stanley, chief gold strategist at State Street Global Advisors. That has led to April gold’s settlement at $3,001.10 an ounce on Comex Friday, the highest most-active contract finish on record.

    Source – Market Watch

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    Missouri passes bill on gold and silver

    ByVictoria
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    The Missouri legislature has passed a bill that would allow the state government to accept gold and silver as payment for taxes and other transactions

    The legislation, led by Republicans, would require state government entities to accept electronic versions of gold and silver, called “electronic specie currency,” as payment for taxes and public debts. The bill doesn’t require businesses to accept gold and silver as payment for private uses, but it would allow them to do so.

    “The goal is about restoring economic and political freedom back to everyday Missourians,” state Rep. Bill Hardwick (R) said.

    Source – Just The News

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    Copper price forecast

    ByVictoria
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    The EV industry in China and the world is already booming; pumping copper’s status as “the new oil”. As such, the red metal is set to rise above the current uncertainties to record significant gains in the medium to long term.

    Copper has also jumped above the 50-day moving average, while the Relative Strength Index (RSI) has continued rising. Therefore, it will likely rebound and retest the key support at $5 in the coming weeks.

    Source – Invezz

    More Info!

    RSI (Relative Strength Index) – is a technical indicator intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.