Silver prices rose past $33.1 per ounce on Wednesday, testing the highest level in three weeks amid a pullback for the dollar and evidence of ample industrial buying.
The greenback came under pressure despite the fresh increase for long-dated Treasury yields, reflecting lingering doubts on the exceptionalism of US assets and aligning with the recent influx into precious metals for safety.
Demand for safety was also underpinned by reports that Israel is considering striking Iran, extending geopolitical tensions in the region. 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
Silver price (XAG/USD) extends its winning streak for the third successive session, marking a fresh 14-year high at $42.17 during the Asian hours on Friday. The precious Silver attracts buyers as mark...
Silver held around $41/oz, near a 14-year peak, as the market awaited the US Consumer Price Index (CPI) release, which could determine the size of the Fed's interest rate cut next week. Wednesday's US...
Silver climbed above $41 per ounce on Wednesday, holding near 14-year highs as traders increased wagers on US Federal Reserve rate cuts. On Tuesday, the Bureau of Labor Statistics reported the US econ...
Silver is currently trading at around US$41.26 per ounce in Asian trading on Tuesday, a slight decline of 0.19% from the previous session. This level remains near its highest level in recent years, re...
Silver futures prices have risen again above $41 per ounce, their highest level since August 2011, as signs of a easing US labor market strengthen expectations of a Fed interest rate cut this year. T...
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair...
U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has...
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S....
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...
The University of Michigan (UoM) is expected to release the preliminary reading of its monthly Consumer Confidence Index for September on Friday....
The Nasdaq Composite notched a perfect week of closing highs on Friday as investors took signs of weakening jobs and tame inflation to mean the...