Pan American Silver has an analyst consensus of Strong Buy, with a price target consensus of $28.36, implying a 15.14% upside from current levels. In a report released on February 11, National Bank also maintained a Buy rating on the stock with a C$47.25 price target.
Source – Markets Insider
The price for Gold increased to INR 94,784.55 per tola from INR 94,440.36 per tola a day earlier.
Source – FXStreet
Source – Money Metals
The silver market was rather quiet during the early hours on Wednesday as we continue to see a lot of choppiness.
I think this is a scenario where you have to be somewhat hesitant to buy silver, and I think really what we are looking at is a situation where we are just simply consolidating overall. I believe that the $28.75 level is significant support, just as the $31 level is significant resistance.
Source – FXEMPIRE
President Donald Trump on Wednesday said the White House was “very busy” crafting its trade policy as the clock ticks down on his self-imposed August 1 deadline. At that point, America could fundamentally reshape the way it does business around the world.
Trump signed executive actions on Wednesday imposing a 50% tariff on Brazil, a 50% tariff on certain copper products and suspending a tax perk for all countries that allowed cheap packages to fly into the US duty-free.
Trump said the agreement, if completed, would include developing Pakistan’s oil reserves with a yet-to-be-named oil company.
Source – CNN
Gold is on a tear, hitting a record high in New York on Monday at almost $3,150 an ounce to bring the rise this year to 19%.
Analysts at Bank of America think gold could hit $3,500 an ounce if demand increases by 10%.
“Uncertainty around Trump Administration trade policies could continue to push the dollar lower, further supporting gold prices near-term. In our view, a broad rebalancing of America’s twin deficits could be bullish gold too.”
Source – Markets Insider
Central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, billionaire investor John Paulson said in an interview during which he reinforced his commitment to U.S. mining projects
Already the largest shareholder in Idaho gold and antimony developer Perpetua Resources, Paulson last week bought a 40% stake in NovaGold’s Donlin gold project in Alaska from Barrick.
“It’s a well-informed prediction. I think that’s a reasonable number,” he said.
“As central banks and people look to put their money in a more stable source… I think gold will increase its position in the world,” he added
Source – Reuters
