Silver price (XAG/USD) continues its upward momentum for the third consecutive session, hovering around $33.30 per troy ounce during Asian trading hours on Thursday.
Demand for dollar-denominated Silver could rise as the US Dollar (USD) remains under pressure due to cooling inflation. A weaker Greenback makes commodities more affordable for foreign buyers
Source – FXSTREET
Gold has outperformed the U.S. dollar and the S&P 500 by more than 6% across the 11 days when tariffs announcements dominated the news this year, according to J.P. Morgan.
Source – Seeking Alpha
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Gold prices edged higher on Wednesday as a weaker dollar and simmering trade tension between the United States and China lifted demand for the safe-haven metal.
Spot gold was up 0.1% at $3,355.46 an ounce, as of 0836 GMT. U.S. gold futures edged 0.1% higher to $3,379.80.
“I think we are seeing the same concerns around trade talks, not much progress and that is adding to uncertainty over where tariffs will land, and that’s driving gold prices right now,” said Nitesh Shah, commodities strategist at WisdomTree.
Donald Trump said on Wednesday that Chinese President Xi Jinping is tough and “extremely hard to make a deal with,” days after the U.S. President accused China of violating an agreement to roll back tariffs and trade restrictions.
Spot silver fell 0.2% to $34.44 an ounce, platinum rose 0.9% to $1,083.22 and palladium lost 0.4% to $1,006.49.
Source – Reuters
Gold prices rallied on Tuesday, regaining ground after a slight pullback at the start of March. Spot gold was up 0.4%, reaching $2,900.78 an ounce as of 7:30 AM UTC. The rally was supported by a weakening US dollar spot index that has dropped to 103.5, a 24-hour 0.2% downtick.
Gold’s more “resilient” performance against the dollar is giving investors more incentives to turn against Bitcoin, with its price falling by more than $15,400 over the past month.
“Now that Bitcoin fell below $77K, it’s down 30% from its January record high,” Schiff posted on X. “It’s hard to see the rationale for the U.S. government holding Bitcoin as a reserve asset when it can lose that much market value so quickly. The rationale will be even harder to see when it’s down 50%.”
Source – Cryptopolitan
The silver market continues to threaten the same barrier, which starts at the $32.35 level, and then reaches the $32.50 level before it is all said and done. Because of that, the market, I believe, is just simply grinding away or even pecking away, if you will, at the barrier that has been one of the biggest factors here in the silver market.
Source – FXEMPIRE / Opinion
Bill HB306, now awaiting signature from Governor Spencer Cox, authorizes the state treasurer to issue a competitive procurement for a precious metals-backed electronic payment platform. This will allow state vendors to opt for payment in physical gold and silver.
Rep. Kenneth Ivory sponsored Bill HB306, and Sen. Keith Grover pushed the legislation through the Senate. The state politicians noted that the legislation is the latest evolution in Utah’s stance in favor of sound money.
“In uncertain economic times, Utah is providing vendors and service providers with the option to receive payment in gold and silver,” Rep. Ivory said. “This law gives Utahns an alternative to choose how they preserve the purchasing power of their earnings and savings.”
Source – KITCO News
