Silver is making a strong comeback at the start of 2025, following a challenging year-end performance in 2024.
There is good reason to suspect that bullion banks have deliberately driven gold and silver prices lower at the close of 2024 to “paint the charts” and influence the yearly closing prices. Reports Jesse Colombo
Source – Money Metals
Bullion surged as much as 1.4% to $2,798.59 an ounce, surpassing its previous all-time high set in October. A weaker dollar makes bullion more appealing for investors holding other currencies as it’s priced in the US currency.
“When you get rising inflation and you get declining growth, you get stagflation, then gold is one of the best-performing commodities in that environment.”
Source – Bloomberg
Goldman Sachs says U.S. net copper imports could rise by 50%-100% in the coming months due to higher U.S. prices before the Trump administration’s planned tariffs, which the bank believes will be imposed at 25% and lead to the surge in imports and a 200K-300K-ton increase in U.S. copper inventories by the end of Q3.
“We maintain our forecast that the LME month-month price will average $10,200/ton in 2024 Q3, and see the impact of inventory dislocation predominantly in timespreads,” the bank writes.
Source – Seeking Alpha
Gold futures tick higher on tariff uncertainty and short-term monetary policy outlook. Futures are up 0.2% at $3,233.60 a troy ounce, near Friday’s record high of $3,263/oz.
The uncertainty both boosted gold’s safe-haven demand and weakened the U.S. dollar as an alternative safe asset, further enhancing gold’s appeal, Commerzbank says.
Source – Wall Street Journal
In the latest market close, Ero Copper Corp. (ERO) reached $13.17, with a +1.15% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.27%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq increased by 0.03%.
The the stock of company has fallen by 6.67% in the past month, lagging the Basic Materials sector’s gain of 7.68% and the S&P 500’s gain of 4.27%.
The company’s earnings report is set to go public on March 6, 2025.
Source – Zacks.com
Silver has enjoyed a “stealth bull market”, according to Adrian Ash, director of research at metals marketplace BullionVault, as supply of the metal has lagged demand for seven years running.
Silver’s highs have come “under the radar for two reasons,” said Ash. “First, that silver has set fresh records outside the US dollar, leaving headline writers to miss its new highs in terms of other currencies including the pound.
“Second, and rather than shooting the lights out like gold has over the past 12 months, the price of silver has risen to new annual and month-average records without hitting fresh daily highs.”
Source – Proactive Investors
“Over the last 12 months, the value of their reserves or the value of the gold in their reserves was five times the amount by which their reserves increased,” Thompson stated, emphasizing the significant shift in China’s gold holdings.
Thompson also highlighted the unique dynamics of the silver market. “We’ve seen year after year the volume of silver… being produced by the mines going down,” he explained.
Source – The Jerusalem Post
