GBP/USD traded for its fifth straight easy gain on Monday (2/17), rising almost a third of a percent and re-passing the 1.2600 mark. Currency market flows were limited to start the new trading week with US markets quiet due to the Presidents Day holiday. UK Average Earnings for the three months to December are expected to rise on a yearly basis on Tuesday. The headline figure for bonuses and allowances taken into account is expected to come in at 5.9%, compared to the previous reading of 5.6%. The UK Claimant Count Change for January is also projected to rise to 10,000 net new jobless...
Silver prices held steady above $32 an ounce on Monday (2/17) after experiencing wild swings in the previous session. The metal found support from a weaker dollar, boosted by weak US economic data and easing concerns over a global trade war. Investors are also keeping an eye on US-led efforts to resolve the war in Ukraine, which could dampen demand for safe-haven assets such as silver. However, silver hit a three-month high on Friday as strong industrial demand, especially from the electrification and manufacturing sectors, supported prices. Recent data showed that China is adding 357...
Goldman Sachs on Monday raised its year-end 2025 gold price forecast to $3,100 per ounce, up from $2,890, citing sustained central bank demand. The bank estimates that "structurally higher central bank demand will add 9% to the gold price by year-end, which combined with a gradual boost to ETF holdings as the funds rate declines." This should outweigh the drag from normalizing investor positioning, assuming uncertainty diminishes, Goldman Sachs added. However, if policy uncertainty, including tariff concerns, remains high, Goldman sees the potential for gold to surge to $3,300 per ounce...