Investing

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Silver sees 10-year peak

ByVictoria
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“Silver’s been a laggard, and some would refer to it as the Cinderella metal, because it always misses the ball. Having said that, silver has finally woken up and broken above some key technical resistance,” independent analyst Ross Norman said. If current momentum continued, silver could challenge the $35 level, he added.

“Silver has a long history of higher volatility than gold, and that when gold makes a decisive move, silver’s amplitude is usually 2.0-2.5 times that of gold,” StoneX analyst Rhona O’Connell said in a recent note.

Source – Reuters

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LME copper spreads surge to premium on short covering

ByVictoria
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The spread between the cash LME copper contract and benchmark three-month futures spiked to a premium for the first time in 19 months on Friday.

It rocketed to $249 a metric ton, the highest since November 2021, compared to a discount, or contango, of $119 two days ago.

Copper prices on COMEX have surged as investors seek to price in potential tariffs, with the premium of COMEX over LME at $1,050 a ton on Friday, down from a record peak of $1,153 a day earlier.

Source – Mining.com

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Gold-Silver Ratio exceeds 90:1

ByVictoria
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Gold has reached new all-time highs, and the gold-to-silver ratio now exceeds 90:1. Such a high ratio has often signaled an impending breakout for silver prices. It indicates that silver could be undervalued, and we may be on the verge of a major price surge. Sometimes, if you miss a price run-up for gold, you can make up for it by buying silver instead as it catches up to its yellow cousin.

Source – Seeking Alpha / SchiffGold

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Gold Holds Near Record, Silver rallied

ByVictoria
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Silver climbed as much as 3.1% to exceed $33 an ounce, while gold headed for a seventh weekly gain — the longest run since August 2020.

The president has already imposed 10% levies on Chinese goods and plans to slap 25% duties on all US steel and aluminum imports next month.

Spot silver rose 2.9% to $33.284 an ounce by 1:20 p.m. in London, taking this week’s gains to 4.6%. The Bloomberg Dollar Spot Index fell 0.2%. Gold, platinum and palladium were little changed.

Source – Bloomberg

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Gold set for seventh weekly gain

ByVictoria
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Gold prices rose on Friday and were on track for a seventh consecutive weekly gain as worries over a potential global trade war intensified after U.S. President Donald Trump’s push for reciprocal tariffs.

Spot gold was up 0.3% at $2,936.99 an ounce by 1104 GMT, taking its weekly advance to 2.6%. Bullion hit a record peak of $2,942.70 on Tuesday.

U.S. gold futures rose 0.6% to $2,961.30.

In other precious metals, spot silver gained nearly 3% to $33.30 an ounce and platinum added 1% to $1,004.57 while palladium dipped by 0.2% to $992.00.

Source – Reuters

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TD Securities’ Daniel Ghali says gold and silver won’t return to the UK

ByVictoria
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The massive outflows of gold and silver bullion from the UK into the U.S. will not likely return even after the tariff and trade situation is resolved, and while gold prices are poised to continue setting fresh all-time highs, the setup for silver is even stronger, according to TD Securities’ senior commodity strategist Daniel Ghali.

“This isn’t the silver squeeze narrative that you’ve heard about, this is the silver squeeze that you can buy into,” Ghali added.

Source – KITCO News

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Gold rises as concerns grow over tariffs

ByVictoria
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Gold prices climbed on Thursday due to escalating concerns about U.S. President Donald Trump’s impending tariff plans, which could further strain global trade relations.

Spot gold added 0.3% to $2,913.40 per ounce as of 11:58 a.m. ET (1658 GMT), moving back towards its record peak of $2,942.70 hit on Tuesday. U.S. gold futures firmed 0.4% to $2,941.40.

“The major factor is political uncertainty and the economic consequences … the PPI was pretty much neutral and it didn’t really have much of an effect on gold, investors around the world are worried about what the Trump policies will do to the overall economy,” said Jeffrey Christian, managing partner of CPM Group.

Spot silver fell 0.3% to $32.13 per ounce. Platinum was down 0.2% to $990.15 and palladium was up 1.6% to $989.50.

Source – Reuters