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
Source – MSN
Source – MSN
Africa’s copper industry is poised for growth in 2025, with the Democratic Republic of Congo (DRC) and Zambia – the continent’s largest producers – leading market expansion. Both countries are investing in new production mines, mineral exploration campaigns and the modernization of existing facilities to increase output.
Source – Sweet Crude Reports
Spot gold gained 0.5% to $2,946.68 an ounce, as of 1131 GMT
“Gold continues to be supported by the prospect of a tariff-driven economic slowdown, potentially bringing forward U.S. Fed rate cut expectations,” Ole Hansen, head of commodity strategy at Saxo Bank, said.
“I maintain my bullish stance on gold, expecting an economic slowdown or even stagflation to drive demand and price of gold higher.”
Spot silver was flat at $33.21 an ounce, platinum lost about 1% to $974.45, while palladium dropped 0.2% to $947.17.
Source – Reuters
The price for Gold stood at 8,241.26 Indian Rupees (INR) per gram, up compared with the INR 8,211.09 it cost on Wednesday.
The price for Gold increased to INR 96,124.48 per tola from INR 95,772.53 per tola a day earlier.
Source – FX STREET
Silver has enjoyed a “stealth bull market”, according to Adrian Ash, director of research at metals marketplace BullionVault, as supply of the metal has lagged demand for seven years running.
Silver’s highs have come “under the radar for two reasons,” said Ash. “First, that silver has set fresh records outside the US dollar, leaving headline writers to miss its new highs in terms of other currencies including the pound.
“Second, and rather than shooting the lights out like gold has over the past 12 months, the price of silver has risen to new annual and month-average records without hitting fresh daily highs.”
Source – Proactive Investors
According to SMM, the cash spot prices for national standard silver ingots in Shanghai today were quoted at a discount of 4 yuan/kg to 1 yuan/kg, while the premiums and discounts for large-scale silver ingots were quoted at a range of a discount of 2 yuan/kg to parity.
Source – SMM
Copper, yet to be included in Donald Trump’s widening list of tariff-hit products, continues to rally on the assumption that it is just a matter of time, Saxo Bank said in a note, as it sees a sooner-than-expected tightening of the global market.
Copper futures (HG1:COM) are up 2.8% so far this week, and 6.3% for the month.
The copper market is still awaiting the result of an investigation carried out under Section 232 of the Trade Expansion Act.
“As such an investigation normally takes months to be completed, it has left the door wide open for a massive profitable arbitrage between international prices and those in the U.S. being reflected through the High Grade futures contract in New York.”
Source – Seeking Alpha
China will import even more off-exchange refined copper this year, according to analysts and traders, as output from the Congo booms and users look to alleviate shortages and head off a potential disruption to supplies of U.S. scrap.
“The supply of refined copper, including scrap, concentrate, anode and blister, is still tight. We therefore expect higher imports of plentiful refined copper, including EQ copper to partly compensate for this tightness in other raw materials,” Jonathan Barnes, principal analyst at metals research company Project Blue said.
Source – Reuters