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Gold and Silver prove high volatility

ByVictoria

Gold prices have dropped by Rs 3,800 within two days after the US President Donald Trump said he has no plans to fire the US Fed’s chief Jerome Powell and also signalled progress with China on the tariff front.

The June futures contract for gold closed at Rs 94,722 per 10 grams, down by 2.69 per cent, while the May futures contract for silver closed at Rs 97,799 per kilogram, up by 2 per cent.

“Gold prices slipped below USD 3,300 per troy ounce levels but there is no change in the long-term fundamentals,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.

Source – Times Now

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    “Silver Guru” David Morgan gives his take on current silver market

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    In a recent interview with Liberty and Finance, the esteemed precious metals analyst David Morgan, widely known as the “Silver Guru,” delivered a compelling analysis suggesting that silver prices are on the cusp of a significant surge. Drawing upon his extensive knowledge of the precious metals market, Morgan highlighted the current lack of substantial upside resistance for silver, hinting at a potential rapid upward movement that has yet to materialize fully.

    “I mean, we’re high enough in the silver price for it to have very little upside resistance and to be able to just move, move, and move some more, and it hasn’t started yet.”

    Morgan believes that broader market dynamics and the inherent appeal of silver as a monetary and industrial metal will eventually draw them back in.

    Source – The Jerusalem Post

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    WGC gold EFT inflows at an all-time peak

    ByVictoria
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    Bullion-backed exchange traded funds (ETFs) reported returning net inflows last month, meaning half-year flows reached levels not seen for five years, data from the World Gold Council (WGC) showed.

    Total holdings rose by 75 tonnes last month, the WGC said, to 3,616 tonnes. This was the highest for 34 months.

    Inflows were valued at $7.6 billion, which in turn drove cumulative assets under management (AUMs) to $382.8 billion an all-time peak.

    The WGC said that “North America accounted for the bulk of inflows, recording the strongest first half in five years.” It added that “despite slowing momentum in May and June, Asian investors bought a record amount of gold ETFs during the first half, contributing an impressive 28% to net global flows with only 9% of the world’s total AUMs.”

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    Gold hits one-month high

    ByVictoria
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    Gold prices surged to a one-month peak on Thursday, nearing $2,700 per ounce, as softer U.S. inflation data fueled hopes of lower interest rates in 2025. Spot gold rose to $2,697.45 an ounce, while February gold futures climbed 0.4% to $2,728. Lower rates enhance gold’s appeal by reducing the opportunity cost of holding non-yielding assets.

    Other precious metals saw mixed movement: platinum futures dipped 0.1% to $948.15 an ounce, while silver edged up 0.3% to $31.622.

    Copper prices steadied after recent gains, with London futures rising 0.3% to $9,192.50 per ton.

    Source – Econo Times

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    Gold adds to record rally amid trade war

    ByVictoria
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    Spot gold was up 0.8% at $2,864 per ounce by 09:24 a.m. ET (1424 GMT), after hitting a record high of $2,877 earlier in the session.

    “Gold continues to be largely influenced by trade uncertainties… the tariffs with China and the retaliation has the market on edge, so safe-haven flows remain the dominant factor,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver rose 0.4% to $32.23 per ounce, platinum gained 1.6% to $979.40 and palladium added 0.4% to $994.75.

    Source – Reuters

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    Gold, Silver, Platinum Forecasts

    ByVictoria
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    GOLD

    In case gold settles below the $2830 level, it will head towards the nearest support, which is located in the $2780 – $2790 range.

    Silver

    Silver made an attempt to settle back below the $32.00 level but lost momentum and rebounded towards the $32.20 level.

    Platinum

    If platinum settles above the $1015 level, it will move towards the resistance at $1025 – $1030.

    Source – FXEMPIRE