The silver market continues to see a lot of noisy trading, after initially gapping higher, and then dropping. Since then, we have seen a massive number of buyers. Silver is a market that continues to see a lot of volatility.
Ultimately, this is a market where if we can break above the $35 level cleanly, then I think we will go back to the highs and then eventually go much higher than that.
Source – FX EMPIRE / Tech analysis
Gold fell 2% on Thursday, hitting a near one-month low, after a U.S.-China trade agreement boosted risk appetite and diminished bullion’s appeal as a safe-haven asset.
Spot gold fell 2% to $3,261.28 per ounce by 0934 a.m. EDT (1334 GMT), its lowest level since May 29. Bullion was down for a second straight week, slipping 3.2% so far
U.S. gold futures dropped 2.2% to $3,272.90.
Spot silver slipped 2% to $35.88 and was set to fall for the week.
Palladium fell 0.8% to $1,122.77, but was headed for weekly gains. Platinum eased 6.5% to $1,325.48, and headed for a fourth consecutive weekly rise.
Source – Reuters
Spot gold fell 0.7% to $2,894.55 an ounce as of 09:44 a.m. ET (1444 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns emerging from tariff threats.
“Bullish trend is still in place… We are not surprised by a period of consolidation ahead of some piece of important data,” said David Meger, director of metals trading at High Ridge Futures.
Spot silver was down 0.5% to $31.57, platinum eased 0.4% to $963 and palladium dropped 0.4% to $924.01.
Source – Reuters
When Donald Trump took office in January 2017, few could predict the meteoric rise in gold prices that would follow. By the time he left office in January 2021, gold had surged by over 53%, reaching a price of $1,841 per troy ounce—up from $1,208 at the start of his term, according to data from the World Gold Council.
Source – CNBC TV18
A contested mine in Central Idaho that will produce gold and antimony earned the U.S. Forest Service’s final approval following a lengthy environmental review and objections from the Nez Perce Tribe, which will lose access for decades to federal lands guaranteed by a U.S. treaty.
“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Pepetua’s president and CEO, said in a statement.
“The tribe’s treaties with the United States are the supreme law of the land and remain binding,”
Source – Idaho Statesman
Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments. The result was a 3.0% gain for gold this past week and a close at the magical $3,000.
Other precious metals rose this past week. Silver was up 4.9%, while platinum gained 4.8% and is back over $1,000. Near precious metals saw palladium up 1.9% and copper gaining 4.0% as it marches towards $5.00.
Source – Silver Seek
