Silver prices edged lower Tuesday, giving back some of Monday’s strong gains that saw the market break through key resistance at $33.70. The retreat reflects profit-taking as traders reassess short-term positioning, with rising attention on the U.S. dollar and gold’s technical posture.
At 12:34 GMT, XAGUSD is trading $34.29, down $0.46 or -1.34%.
Source – FX EMPIRE
The company recorded its highest-ever nine months mined and refined metal production at 784 kt and 783 kt respectively. The company clocked best-ever third quarter revenue of US$ 1,020 million, up 18% year-on-year.
Hindustan Zinc also registered historic best third quarter EBITDA of US$ 537 million, up 28% with an industry leading EBITDA margin of c. 53%, up c. 400 bps year-on-year. The company also recorded its highest profit after tax (PAT) in the past nine quarters* of USD 317 million, up 32% year on year.
Source – ANTARA News
Gold (XAU/USD) rose sharply during the Asian session on Thursday, reaching $3,126.67, as global markets reacted to renewed trade tensions.
Silver (XAG/USD) is trading at $33.28, having touched a session low of $33.07. Despite gold’s upward momentum, silver’s response has been more restrained, weighed down by its industrial use case.
Source – FX EMPIRE
Spot gold was at $3,026.85 an ounce at 1131 GMT. U.S. gold futures edged 0.4% higher to $3,032.40.
“A modestly weaker dollar is probably giving gold a little bit of a tailwind at present,” said Ross Norman, an independent analyst.
“A worse-than-feared tariff announcement on April 2 could give bullion bulls a shot in the arm towards striving for the $3,100 mark,” said Han Tan, Exinity Group’s chief market analyst.
“Should risk-on sentiment make a comeback, assuming the U.S. tariff threats prove to be more bark than bite, that could see fleeting forays below $3,000,”
Spot silver firmed 0.4% to $33.16 an ounce, platinum steadied at $975.55, and palladium was flat at $957.95
Source – Reuters
Despite the U.S. Mint’s removal from its website of bronze duplicate versions of the congressional gold medal recognizing law enforcement that protected the U.S. Capitol during the Jan. 6, 2021, assault, orders for the two sizes of bronze medals may still be placed from the nation’s coin producer.
Source – Coin World
Industrial silver demand set a record last year, but despite the increase in offtake, overall silver offtake declined by 3 percent to 1.16 billion ounces, primarily due to weak investment demand.
Silver jewelry demand grew by 3 percent to 208.7 million ounces in 2024.
The Silver Institute reported that improving exports to key Western countries also lifted silver jewelry demand.
Growth in demand for silver jewelry will likely contribute to increasing overall demand, putting further pressure on already limited silver supplies.
Source – Money Metals
