Silver

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Global silver market under stress

ByVictoria
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A surge in rates to borrow the precious metal has become the latest sign of alarm, with anxiety building over the impact of further tariffs from US President Donald Trump. That’s sparked a dash to ship silver into the US in a bid to capture premium prices in New York, possibly causing a squeeze in London.

“Should the long-fabled ‘silver squeeze’ materialize, this slower tradeflow will be a key contributor to prolonging” any potential disruption BMO Capital Markets analyst George Heppel said in a note. That’s because it would take time for silver stockpiles to flow from the US back to London, he said.

Source – Mining Weekly

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Gold prices above $3000 for the second time

ByVictoria
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Gold prices scaled a record peak above the crucial $3,000-mark on Tuesday for the second time in a week, as investors sought cover from economic concerns fuelled by U.S. President Donald Trump’s tariff policies.

Spot gold rose 0.2% to $3,006.88 an ounce as of 0525 GMT after hitting a record high of $3,016.92 per ounce earlier in the session.

“Gold is moving higher on account of a weaker dollar and continued tariff uncertainties… With Gold at record highs there is a lot of technical and chart based buying that kicks in since there is no resistance apparent on the charts,” said Marex analyst Edward Meir.

Spot silver firmed 0.1% to $33.85 an ounce, platinum added 0.2% to $1,002.50 and palladium rose 0.4% to $968.96.

Source – Reuters

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Gold and Silver “Technical Scoop”

ByVictoria
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Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments. The result was a 3.0% gain for gold this past week and a close at the magical $3,000.

Other precious metals rose this past week. Silver was up 4.9%, while platinum gained 4.8% and is back over $1,000. Near precious metals saw palladium up 1.9% and copper gaining 4.0% as it marches towards $5.00.

Source – Silver Seek

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President Trump inaugural medals being made

ByVictoria
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Medalcraft Mint in Green Bay, Wisconsin, is now marketing 2.75-inch (69.85-millimeter) Proof bronze versions and Proof silver versions of the official Donald J. Trump presidential inaugural medal, along with a six-piece process set that illustrates the progression of the striking process for the bronze medals.

According to Medalcraft sales representative Branden Beyer, the bronze medals are being offered at $75 each, the silver medal at more than $900 depending on the fluctuating daily spot price of silver, and the six-piece process set at $650.

Source – Coin World

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New Dehli gold and silver hit record levels

ByVictoria
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Gold and silver prices hit fresh record levels on Monday, rallying Rs 1,300 each, tracking strong trends in the global markets amid uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the Federal Reserve.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity, extending gains for the fourth day in a row, rallying Rs 1,300 to hit a fresh peak of Rs 90,750 per 10 grams.

Source – Press Trust of India

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Silver Price Forecast

ByVictoria
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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

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Gold trades high, spot gold gains

ByVictoria
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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

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Silver rising with gold in the spotlight

ByVictoria
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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