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Silver expected to rise in demand

ByVictoria
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The precious metal has gained nearly 12% in the year-to-date and is set to benefit from continued macroeconomic and geopolitical uncertainty, alongside potential U.S. interest rate cuts, according to the industry body’s World Silver Survey 2025.

“While ongoing uncertainties elsewhere, along with silver’s healthy supply-demand conditions, will offer support, we do see prices easing back in late 2025.”

Supply is expected to rise by just 2% and demand to ease by only 1%, setting the stage for a 117.6 million ounce deficit.

“We very much expect such a dynamic will emerge eventually, but we feel that a few more years of deficits are needed first to further erode above-ground silver inventories.”

Source – Market Watch

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Gold hits another record high

ByVictoria
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Spot gold was up 2.2% to $3,299.85 an ounce as of 1107 GMT, after hitting a record high of $3,317.90 earlier in the session. U.S. gold futures gained 2.3% to $3,315.80.

“Trump’s trade war shows no signs of easing… sparking a fresh move towards safe havens and out of stocks,” said Ole Hansen, head of commodity strategy at Saxo Bank.

Spot silver rose 2% to $32.94 an ounce, platinum was up 0.1% to $960.85, and palladium gained 0.6% to $977.09.

Source – Reuters

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Copper in a slump

ByVictoria
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London Metal Exchange (LME) three-month copper slumped to a 17-month low of $8,105 per metric ton on April 7 after China responded to U.S. tariffs in kind.

Citi, which now expects copper to hit $8,000 per ton over the next three months, warns that commodity markets are still not pricing the full potential impact on demand.

Copper as a macro play cannot but reflect the broader market concerns about the negative impact of an escalating trade war between the United States and China on the world economy.

But at a micro level, the specific threat of U.S. tariffs on the metal is pulling normal trade patterns out of shape and causing both LME and Shanghai exchange inventories to fall.

Source – Reuters

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Gold and Silver Rs up

ByVictoria
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Gold of 99.5 per cent purity increased Rs 50 to reclaim its all-time high level of Rs 96,000 per 10 grams against the previous close of Rs 95,950 per 10 grams.

Silver prices climbed by Rs 2,500 to Rs 97,500 per kg on the back of fresh industrial demand.

“Gold prices remain steady near all-time highs, buoyed by a weakening dollar and persistent uncertainty surrounding US trade policy,” Chintan Mehta, Chief Executive Officer at Abans Financial Services, said.

Spot silver in the Asian market hours fell marginally at USD 32.32 per ounce

Source – Press Trust of India

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Foreign traders banned from gold markets

ByVictoria
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Ghana has banned all foreigners from trading in its local gold market as part of efforts to boost national revenue and streamline the country’s mining sector.

It follows the enactment of a new law earlier this month that grants exclusive authority of gold mining to a new state body, the Ghana Gold Board

“All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025,” said GoldBod spokesperson Prince Kwame Minkah in a statement.

However, foreigners are allowed to apply to buy or off-take gold directly from the GoldBod but can no longer operate within the local gold value chain.

“It sends a strong message to foreign actors – especially Chinese operatives – who have circumvented local laws for years,” Nana Asante Krobea, a mining governance consultant

Source – BBC

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Gold futures up

ByVictoria
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Gold futures tick higher on tariff uncertainty and short-term monetary policy outlook. Futures are up 0.2% at $3,233.60 a troy ounce, near Friday’s record high of $3,263/oz.

The uncertainty both boosted gold’s safe-haven demand and weakened the U.S. dollar as an alternative safe asset, further enhancing gold’s appeal, Commerzbank says.

Source – Wall Street Journal

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Silver stays around $32

ByVictoria
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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

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Gold falls .4%

ByVictoria
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Spot gold lost 0.4% to $3,222.49 an ounce, as of 0852 GMT. Bullion hit a record high of $3,245.42 earlier in the day.

“Market sentiment has improved a bit this morning after President Trump excluded electronics and smartphones from US tariffs. This has partly caused a dip in gold prices, likely due to profit-taking,” said Zain Vawda, an analyst at MarketPulse by OANDA.

Spot silver was steady at $32.27 an ounce, while platinum added 1% to $952.10. Palladium gained 2.2% to $935.38.

Source – Reuters

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Goldman Sachs raises gold forecast

ByVictoria
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Goldman Sachs raised its end-2025 gold price forecast to $3,700 per ounce from $3,300, with a projected range of $3,650-$3,950, citing stronger-than-expected demand from central banks and higher exchange-traded fund inflows due to recession risks.

“If a recession occurs, ETF inflows could accelerate further and lift gold prices to $3,880 per troy ounce (toz) by year-end,” the bank said

Source – Reuters

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Gold Price levels hit record highs

ByVictoria
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The precious metal remains supported as concerns about an intensifying global trade war continue to place downward pressure on the dollar and Treasurys amid diminishing faith in the U.S. as a reliable trading partner. 

Gold’s price, which soared 6% last week and trades 23% higher since the start of the year, seesawed Sunday evening as investors digested news that recently announced U.S. tariff exemptions on smartphones, computers, and semiconductors could be temporary, with the president later pledging a national security trade investigation into the chip sector.

Source – Investopedia