Silver prices hovered around the crucial $32.19 level on Monday, testing a significant Fibonacci retracement that may define short-term direction.
With the $32.19 level under test and $32.51 looming overhead, silver is well-positioned for an upside break if macro sentiment stays supportive and gold stabilizes above $3,100.
Source – FX EMPIRE
On January 7, 2025, A-Mark Precious Metals, Inc. (NASDAQ:AMRK) stock closed at $27.50 per share with a market capitalization of $637.563 million.
“As a long-biased fund, we prefer to own various countercyclical companies to lower the risk of our portfolio. At the beginning of the year, we identified a pawn store operator and a wholesaler / retailer of precious metals called A-Mark Precious Metals, Inc. (NASDAQ:AMRK) as interesting long-term opportunities that simultaneously provided a hedging function to our portfolio. We have exited our position in AMRK during the year. We believed that economic uncertainty and higher precious metals prices would spark renewed consumer demand for physical gold and silver coins. This demand did not materialize and we therefore saw no immediate catalyst in AMRK.” stated Night Watch Investment Management in its Q4 2024 investor letter
Source – Insider Monkey
Gold prices rallied above $3,100 per ounce for the first time on Monday, on course for its biggest quarterly gain in over 38 years, as global tariffs and geopolitical tensions push investors toward safe-haven bets.
“Trump’s unpredictable trade policy has been the key driver for gold so far in 2025, with prices up by more than 16% year-to-date, extending its momentum from 2024,” ING analysts said.
“We see uncertainty over trade and tariffs, along with central bank buying and inflows into ETF holdings continuing to buoy gold prices.”
Source – Seeking Alpha
Asian and European shares were mixed to weaker in trading overnight. U.S. stock indexes are set to open higher on corrective bounces following Friday’s big sell offs.
German stocks rose as investors cheered a win by German conservative leader Friedrich Merz in Sunday’s elections.
The Euro zone January consumer price index came in at up 2.5%, year-on-year, which was right in line with market expectations.
Source – KITCO News
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
Anglo American said it does intend to sell the remainder of its retained shares over time, and said that it will not hold any representation on the Anglo American Platinum board after the split.
Source – Morning Star
Copper production from Chile’s state-run miner Codelco, the world’s largest producer of the metal, jumped nearly 17% in November, helping to boost overall output of the metal in the mineral-rich nation by some 10%, data from copper commission Cochilco showed on Friday.
Taking Friday’s results into account, Chile’s total production in November was up 9.8% to 486,200 tons, Cochilco said.
Source – Mining.com
