|

Silver price strengthens dollar

ByVictoria

Silver price (XAG/USD) hits a fresh weekly high to near $33.20 during North American trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) extends its downside on the United States (US) credit rating erosion in the wake of large debt levels and escalated fiscal imbalances.

Technically, a soft US Dollar makes the Silver price a value bet for investors. Additionally, concerns over US credit erosion improve the safe-haven demand of non-yielding assets, such as Silver.

Source – FX Street

Similar Posts

  • /

    Silver Tiger Metals to Present at Virtual Investor Conference

    ByVictoria
    0 Comments

    Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) based in Halifax, Nova Scotia, focused on Developing Production at the El Tigre Silver Mining District in Sonora Mexico, today announced that Glenn Jessome President & CEO, will present live at the Metals and Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on February 13th, 2025

    DATE: February 13th
    TIME: 1:00pm EST

    www.virtualinvestorconferences.com

    Source – Markets Insider

  • / /

    Gold up .5%, Silver up .7%

    ByVictoria
    0 Comments

    Gold prices rose on Thursday, supported by a pullback in the dollar and the prospect of U.S. interest rate cuts later in the year, while investors awaited more details on U.S. President Donald Trump’s trade policy.

    Spot gold was up 0.5% to $3,328.23 per ounce by 0916 GMT. U.S. gold futures gained 0.5% to $3,336.90.

    “The passing of the One Big Beautiful Bill, unsettling trade (policies) and rate-cut expectations should be ‘dollar negative’ kind of events… gold should be favoured in that environment,” said WisdomTree commodities strategist Nitesh Shah

    Spot silver rose 0.7% to $36.59 per ounce, platinum gained 0.9% to $1,359.65, and palladium climbed 1.2% to $1,117.93.

    Source – Reuters

  • /

    Silver will get to $35….eventually

    ByVictoria
    0 Comments

    The Thursday session sees a bit of consolidation in the silver market, as we are not trying to digest further gains from the Wednesday session. At this point, the market looks as if it want to go to the $35 level eventually.

    Silver is a metal that I would be a buyer on dips because it is a precious metal. It’s a way to protect wealth, but it’s also an industrial one.

    Source – FX Empire

  • /

    Gold prices rise, gold futures up

    ByVictoria
    0 Comments

    Gold prices rose on Tuesday, supported by safe-haven demand amid uncertainty over U.S. President Donald Trump’s tariff plans for next week that could potentially boost inflation.

    Spot gold was up 0.3% at $3,021.39 an ounce at 11:24 a.m. ET (1524 GMT). U.S. gold futures were up 0.4% at $3,026.20.

    “Investors are concerned about the state of the world, especially with U.S. policies being what they are, and so they’re buying gold as an alternative asset because they’re concerned that the U.S. government may throw the world into a global recession,” said Jeffrey Christian, managing partner of CPM Group.

    Spot silver gained 1.8% to $33.59 an ounce, platinum added 0.8% to $980.80 and palladium added 1.1% to $961.60.

    Source – Reuters

  • /

    Glencores copper shipments suspended

    ByVictoria
    0 Comments

    Glencore has suspended production and declared force majeure on copper shipments from its Altonorte smelter in Chile due to an issue affecting the plant’s furnace, Bloomberg reported Wednesday, in a setback that comes just as traders and producers race to ship more metal to the U.S. ahead of tariffs.

    Much of the copper produced in Chile is shipped to the U.S., where Comex prices have surged to record highs on worries about shortages due to tariffs; the most active Comex copper contract (HG1:COM) for May delivery hit $5.374/lb, or $11,847/metric ton on Wednesday.

    Source – Seeking Alpha