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Silver price around $39, could go up

ByVictoria

The Silver price (XAG/USD) attracts some sellers to around $39.00 during the early European session on Friday. Optimism surrounding the US trade deal allayed trade war concerns and dampened demand for safe-haven assets.

The Wall Street Journal (WSJ) reported on Friday that US President Donald Trump is now pursuing dealmaking with China. Trump might shift from a strategy of pressure to negotiation, with the goal of securing an economic agreement that will increase US access to Chinese markets, particularly in business and technology. 

Source – FX Street

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    Amundi Physical Metals expands gold-backed ETC offerings

    ByVictoria
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    The Amundi Physical Gold ETC is designed to track the performance of gold prices, offering an alternative to direct investment in the precious metal. The securities are backed by allocated gold stored in secure vaults, with each ETC security representing a specific entitlement to gold, which diminishes slightly each day to cover operational expenses at an annual rate of 0.12%.

    Investors should note that the ETC securities are not the equivalent of investing in gold directly, as they are financial instruments subject to market fluctuations and other risks inherent to securities trading. 

    Source – Investing.com

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    Gold is pulling back, prices drop

    ByVictoria
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    Gold prices dropped more than 1% on Friday as markets digested the latest tariff developments, while a softer inflation report in the US kept hopes for a rate cut alive.

    Spot gold fell back below $3,300 an ounce during the morning session, trading at $3,281.24 for an intraday gain of 1.1% by 10:45 a.m. ET. US gold futures also fell 1.1% to $3,307.40 an ounce in New York.

    “Gold, at this point in time, is pulling back off these recent highs and is in a consolidation period,” said David Meger, director of metals trading at High Ridge Futures

    “Gold is under slight pressure as we’re seeing a little lesser need for safe haven, but it does look like there is going to be significant pushback from Trump and that will eventually help prices.”

    Source – Mining.com

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    Gold, Silver, Platinum Forecasts

    ByVictoria
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    Gold

    Gold made an attempt to settle below the support at $2870 – $2880 but lost momentum and climbed back above the $2900 level.

    Silver

    Silver rallied above the $32.00 level as gold/silver ratio pulled back below the psychologically important 90 level.

    Platinum

    Platinum is trying to settle above the resistance at $1025 – $1030 as demand for precious metals stays strong.

    Source – FXEMPIRE

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    Gold recession warning

    ByVictoria
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    “I’m basing this whole forecast on the fact that the Fed is going to be wrong,” Hemke stated, emphasizing his belief that the current economic strength is overstated.

    Craig Hemke is a precious metals analyst.

    Source – The Jerusalem Post

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    Gold futures rising

    ByVictoria
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    Gold price have risen from Wednesday’s record close, propelled by fears that Trump’s tariffs will continue to hammer stocks and expectations that central banks will continue to hoard the precious metal. Gold futures for April delivery settled Wednesday at $3,139.90 a troy ounce, the latest notch in their 19% climb this year.

    Source – The Wall Street Journal

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    Gold and Silver up around the world

    ByVictoria
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    Gold prices in India skyrocketed by Rs 6,250 on Friday to reach a historic high of Rs 96,450 per 10 grams in the national capital, fuelled by robust demand from local jewellers and soaring global prices driven by heightened US-China trade tensions, according to the All India Sarafa Association.

    Gold of 99.9% purity also saw a significant jump, closing at Rs 96,450 compared to Wednesday’s Rs 90,200.

    Silver too followed suit, leaping Rs 2,300 to settle at Rs 95,500 per kg from its earlier close of Rs 93,200, mirroring the bullish global momentum.

    Comex gold futures climbed to a record USD 3,249.16 per ounce, signalling strong safe-haven demand.

    “Comex gold prices hit lifetime highs due to surging safe-haven demand, triggered by fears of a deepening global economic slowdown and further retaliation between the US and China,” said Kaynat Chainwala, AVP-Commodity Research at Kotak Securities.

    Source – The Times of India