| |

Silver holding at $30ish, Can it keep up with Gold?

ByVictoria

At 13:19 GMT, XAG/USD is trading $30.84, Unchanged.

Prices have also remained above the pivot at $30.53, which keeps the short-, medium-, and long-term trends firmly upward.

Daily Gold (XAU/USD)Gold, often viewed as silver’s counterpart, has outperformed with a breakout above $2,726.30, pushing prices closer to record highs at $2,790.17. 

A sustained rally above $30.53 and a breakout over $30.98 may open the door for further gains, but for now, silver remains in gold’s shadow.

Source – FXEMPIRE

Similar Posts

  • /

    McEwen Copper requests major tax breaks for Los Azules copper mine in Argentina

    ByVictoria
    0 Comments

    Canadian miner McEwen Copper, a subsidiary of McEwen Mining, has submitted a request to join an Argentine government incentives program that would give it significant tax breaks for its Los Azules copper project in San Juan province, it said.

    Once the government gives McEwen the green light, its corporate tax rate for the Los Azules project will fall from 35% to 25%, and it will be exempt from value-added tax during construction and from export duties.

    Source – Reuters

  • /

    Ghana gold output to increase

    ByVictoria
    0 Comments

    Ghana’s gold production could increase by around 6.25% to approximately 5.1 million ounces in 2025, up from last year’s record output of 4.8 million ounces, the Chamber of Mines in Africa’s top gold-producing nation said on Friday.

    “We project gold output to range between 4.4 and 5.1 million ounces, buoyed by increased contributions from Newmont’s Ahafo South Mine and Shandong’s Namdini Mine,” Chamber of Mines President Michael Akafia said at an annual gathering in the capital Accra.

    “We’re looking at about 30% to 40% more production than the previous year,” the general secretary of the group, Godwin Armah, told Reuters.

    Source – Reuters

  • /

    Gold prices down after trade truce

    ByVictoria
    0 Comments

    Gold prices have fallen almost 10% from a record high just above $3,500 per ounce in April as a de-escalation in U.S.-China trade tensions punctured momentum, but analysts are sticking with a bullish outlook due to strong underlying support for the metal.

    Spot gold was trading around $3,180 an ounce on Friday, leaving prices on track for their worst week in six months.

    “Gold prices are more likely to rise than to fall from this stage onwards as other factors like central bank demand and very strong investor demand from China are not going away anytime soon,” said Nitesh Shah, commodities strategist at WisdomTree.

    Source – Reuters

  • Largest gold deposit in the world: NASA scientists discovered

    ByVictoria
    0 Comments

    NASA scientists estimate that there are almost 20 million tons of gold dissolved in the water of the seas and oceans.

    Estimates suggest that nearly 20 million tons of gold are dissolved in seawater. However, the concentration of this metal is extremely dilute across a vast volume of water, making its extraction highly complex.

    Source – AS USA

  • /

    Gold still looks good, dollar dropped

    ByVictoria
    0 Comments

    “The de-escalation of tensions in the Middle East is the primary factor that’s weighing on gold. The safe-haven bid has diminished and the market is in more of a risk-on mode,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    “We’ve got pretty good support around $3,300 and then even better support probably at $3,250.”

    Global shares surged and the dollar dropped on Tuesday after news of the ceasefire between Israel and Iran, while markets shrugged off what U.S. President Donald Trump called violations by both sides.

    Source – Reuters

  • Copper prices edge up in thin trade after past week’s tumble

    ByVictoria
    0 Comments

    Three-month copper on the London Metal Exchange (LME) rose 0.1% to $8,949.5 a metric ton in official open-outcry trading.

    Adding further pressure, the International Copper Study Group said on Friday that the global refined copper market was in a 287,000 metric ton surplus for the first 10 months of 2024.

    With a mean reversion strategy in play, copper is likely to strengthen back above the crucial $9,000 mark, Sucden Financial analysts said.

    Source – ZAWYA