Gold
Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.
Silver
Silver declined below the $32.50 level as gold/silver ratio climbed above the 91 level.
Platinum
Platinum tests new lows as traders react to the strong sell-off in palladium markets, which are down by 3.4%.
Source – FXEMPIRE
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
“The uncertainty over US tariffs is pushing investors toward safe-haven assets like gold,” said Michael Hewson, Chief Market Analyst at CMC Markets.
The weaker US Dollar, coupled with uncertainties surrounding US trade policies, is supporting silver’s bullish momentum.
Gold (XAU/USD) is trading at $2,940.57, showing a modest gain of +0.07%.
Silver (XAG/USD) is trading at $32.68, slightly down by -0.03%.
Source – FXEMPIRE
Source – APMEX
Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) (“Vizsla Silver” or the “Company”) is pleased to announce that, further to its news release dated January 6, 2025, it has filed an independent technical report (the “Technical Report”) containing an updated mineral resource estimate on the Company’s Panuco silver-gold project. The Technical Report has an effective date of September 9, 2024, and was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) by Allan Armitage, Ph. D., P. Geo., Ben Eggers, MAIG, P.Geo., and Henri Gouin, P.Eng. of SGS Geological Services and Peter Mehrfert, P.Eng., James Millard, P.Geo., Scott Elfen, P.E., and Jonathan Cooper, P.Eng. of Ausenco Engineering Canada ULC.
The Technical Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and is also available on the Company’s website (www.vizslasilvercorp.com).
Source – PR Newswire
Spot gold shed 0.4% to $2,927.95 an ounce by 1204 GMT. Bullion has gained around 1.6% this week after rising to a record $2,954.69 on Thursday.
“The non-stop rally since December remains unchallenged unless prices drop to around $2,850,” said Ole Hansen, head of commodity strategy at Saxo Bank.
“Gold has been displaying resilience with short-lived retracements, as lingering U.S. trade uncertainties reinforce its appeal as a hedge,” IG market strategist Yeap Jun Rong said.
Spot silver was flat at $32.92 an ounce, and palladium dipped 0.3% to $974.75. Both metals were headed for weekly gains.
Platinum shed 0.2% to $976.80 and eyed a weekly decline.
Source – Reuters
The white metal now seems poised to advance further towards last Friday’s swing high, around the $33.35-$33.40 zone before aiming to reclaim the $34.00 round-figure mark.
Source – FXStreet
Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.
Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).
“We are in a state of unusual-heightened uncertainty… the catalyst is the tariffs and trade talks or threats that are going on around the world,” which is supporting the prices, said Paul Wong, market strategist at Sprott Asset Management.
Among other metals, spot silver, used in electrical components, shed 0.7% to $32.64 an ounce, which aims to challenge a 10-year high.
Platinum declined 2.1% to $966.65 and palladium eased 1.9% to $968.43.
Source – Reuters
In a report released today, Cosmos Chiu from CIBC maintained a Buy rating on Vizsla Silver (VZLA – Research Report), with a price target of C$5.00. The company’s shares opened today at $2.28.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vizsla Silver with a $3.26 average price target.
Source – Markets Insider
Gold
Gold tests resistance at $2930 – $2940 as traders bet that demand from central banks will stay strong in the upcoming months.
Silver
Silver gains ground as traders react to the strong performance of gold markets. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.
Platinum
Platinum is stuck near the $1000 level as traders wait for additional catalysts.
Source – FXEMPIRE
