Silver prices were near the $32.4 per ounce on Tuesday, trading with marginal gains for a second session and remaining around 12% higher year-to-date gain amid higher demand for silver as bullion and its industrial uses.
Precious metals remained supported by the outlook of lower interest rates by major central banks, which reduce the opportunity cost of holding assets without any yield.
Softer inflation prints maintained bets of two rate cuts by the Fed this year, while the BoE cut its benchmark rate and the PBoC reduced the rate on liquidity operations.
In the meantime, higher investments in solar panels, the main industrial use for silver, also maintained buying from factories. New data showed that China's wind and solar capacity rose to nearly 1,500 GW in the first quarter of the year due to a 60GW jump in photovoltaic power. In turn, solar power output in Europe surged by 30% annually in the first quarter.
Source: Trading Economics
The Silver price (XAG/USD) attracts some sellers to around $39.00 during the early European session on Friday. Optimism surrounding the US trade deal allayed trade war concerns and dampened demand for...
Silver price (XAG/USD) extends its losses for the second successive session, trading around $39.10 per troy ounce during the Asian hours on Thursday. The price of Silver struggles due to weakened safe...
Silver (XAG/USD) is treading water on Wednesday after a sharp two-day run to mark fresh multi-year highs. The metal consolidating just below the key $39.50 mark during the American trading hours. Whil...
Silver price (XAG/USD) edges lower after reaching $39.39, the highest since September 2011, and currently trading around $39.20 per troy ounce during the Asian session on Wednesday. The price of Silve...
Silver price (XAG/USD) edges lower to near $38.80 during the early European session on Tuesday. Still, the white metal is close to its decadal high around $39.00. The outlook of the white metal remain...
The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as...
Oil prices weakened on Friday (July 25th) and closed at a three-week low as traders worried about negative economic news from the US and China and signs of increasing supply. The losses were limited by optimism that a US trade deal could boost...
Gold prices weakened on Friday, weighed down by a stronger U.S. dollar and signs of progress in U.S.-EU trade negotiations, which have dampened demand for safe-haven assets. Spot gold fell 0.9% to $3,336.01 an ounce at 2:01 PM ET (18:01 GMT). U.S....
Equities in Indonesia rose 64 points, or 0.9%, to 7,555 around noon on Thursday, gaining for a second straight session and supported primarily by...
European stocks closed sharply higher on Wednesday (July 23), halting three previous trading sessions' declines, buoyed by speculation that the US...
The European Central Bank (ECB) is on track to leave its key interest rates unchanged after its July policy meeting, after having reduced rates at...
Asia-Pacific markets opened higher as the latest trade developments between the U.S. and Japan, as well as positive signs for a deal with the...