New Delhi, Feb 11 (PTI) Silver prices on Tuesday fell Rs 681 to Rs 94,614 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange, silver contracts for March delivery declined Rs 681 or 0.71 per cent to Rs 94,614 per kg in a business turnover of 21,019 lots.
Source – Press Trust of India
During the trading on Friday, we saw the silver market initially dip, only to turn around and show signs of strength yet again. Because of this, I think the market is likely to continue to be bullish.
In general, this is a market that’s been in an uptrend for quite some time and if we are in fact going to continue to see inflationary issues, things like silver, commodities and stuff could get a little bit of a bid. We’ll just have to wait and see.
Source – FXEMPIRE / Written by Christopher Lewis
Source – Money Metals
GOLD
In case gold settles below the $2830 level, it will head towards the nearest support, which is located in the $2780 – $2790 range.
Silver
Silver made an attempt to settle back below the $32.00 level but lost momentum and rebounded towards the $32.20 level.
Platinum
If platinum settles above the $1015 level, it will move towards the resistance at $1025 – $1030.
Source – FXEMPIRE
BMO Capital Markets has recently initiated Vizsla Silver Corp (VZLA) stock to Outperform rating, as announced on January 24, 2025, according to Finviz.
Over the last six months, the stock has risen by 15.79%, and it has gained 6.28% in the previous three months. Currently, VZLA is trading at 9.64%, 16.82%, and 18.91% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
Source – BOV News
SPDR Gold Shares
It’s been having a good run: from the early June 2024 low of $212 to the present $264 amounts to a 19.7% return from then to now.
ASA Gold and Precious Metals
The South African-founded miner is now domiciled in Bermuda and has a market cap of $477 million. The price-earnings ratio is 7.61 and the stock trades at 1.12 times its book value. ASA in November 2024 paid a .16% dividend.
Franco Nevada
Headquartered in Toronto, the company has a market cap of $27 billion. This year’s earnings are down by 13.15%. Franco Nevada has no debt, long-term or otherwise.
Kinross Gold
This Canadian miner has a market cap of $14.51 billion. Earnings this year are up by 71%. The price-earnings ratio is 19.74. The debt-to-equity ratio is .26. Kinross Gold pays a dividend of 1.02%.
Discovery Silver
This is an OTC stock (also trades on The Toronto Stock Exchange) with an average daily volume of 237,000 shares. Market cap is $433 million. According to the company website, Discovery has “high quality gold producing assets in Canada” and “the world’s largest undeveloped silver deposit in Mexico.”
Source – Forbes
Spot gold was up 0.8% at $2,864 per ounce by 09:24 a.m. ET (1424 GMT), after hitting a record high of $2,877 earlier in the session.
“Gold continues to be largely influenced by trade uncertainties… the tariffs with China and the retaliation has the market on edge, so safe-haven flows remain the dominant factor,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Spot silver rose 0.4% to $32.23 per ounce, platinum gained 1.6% to $979.40 and palladium added 0.4% to $994.75.
Source – Reuters
“People are well advised to know and expect that [silver] is going to be volatile,” Krauth said. “It’s going to be more volatile than gold, and if you talk about silver stocks, that’s another—you know, it’s exponentially more volatile.”
“Maybe it’s not a bad idea to wait a little bit to let things calm down.”
Source – Self Employed
Peter Krauth author of “The Great Silver Bull” and precious metals analyst.
Gold tests historic highs as the strong rally continues.
A move above the $2850 level will open the way to the test of the $2900 level.
In case silver stays above the $32.00 level, it will head towards the next resistance at $32.75 – $33.00.
In case platinum settles back above the $1000 level, it will move towards the resistance level at $1025 – $1030.
Source – FXEMPIRE
While silver does look extraordinarily resilient at the moment, the reality is that it may not be that easy to get to the $32.35 level.
Source – FXEMPIRE
