Gold fell slightly at the start of the Asian session, catching its breath after breaking a new record high above a key psychological level. Several technical indicators pointed to overbought conditions after consecutive rallies, prompting profit-taking and pushing prices back toward their highs. Its safe-haven appeal eased slightly after signs of progress toward a peace agreement in the Middle East, although global concerns remain significant. Throughout the year, gold's trend remained supported by central bank buying and concerns about US monetary and fiscal policy. The US dollar remained...
Silver prices continue to strengthen, driven by a strong combination of rising industrial demand and a weakening US dollar. This increase is also in line with optimism about the global green energy transition, which is increasing silver consumption in the solar panel, electric vehicle, and semiconductor sectors. Furthermore, the Fed's dovish stance, which hinted at potential interest rate cuts, has weakened dollar yields, making precious metals like silver and gold more attractive to investors. Fund flows into silver-based ETFs have also increased significantly, reinforcing signals that the...
Gold prices hovered around $3,980/oz on Friday, heading for an eighth consecutive weekly gain after hitting a record earlier in the week. The main driving force came from economic uncertainty and expectations that the Fed would cut interest rates again. New York Fed President John Williams said he was open to further cuts, although rising inflation could complicate the decision—in line with the FOMC minutes, which saw increasing risks to the labor market but remained wary of stubborn inflation. Meanwhile, the US government shutdown, which entered its second week, delayed the...