Silver price (XAG/USD) maintains its position after retreating from a fresh record high of $53.77, currently trading around $52.40 per troy ounce during the European hours on Tuesday. Silver prices climbed as a historic short squeeze in London intensified a rally driven by soaring demand for safe-haven assets.
The price of the grey metal surged amid growing concerns over liquidity shortages in London, prompting some traders to secure cargo space on transatlantic flights for Silver bars, an unusually costly transport method typically reserved for Gold, in a bid to capitalize on higher prices in the London market, according to a Bloomberg report.
Meanwhile, Silver is trading at a significant premium in India compared to global prices, facing a surge in domestic demand from millions of investors. The premium has risen to as much as 10% above international rates, forcing physically backed exchange-traded funds to halt new subscriptions. Meanwhile, jewelers are struggling to keep up with strong festive demand ahead of Diwali.
The safe-haven demand for Silver surged amid renewed United States (US)-China trade tensions. The United States (US) and China decided to impose additional port fees on ocean shipping companies. The US is scheduled to start collecting fees on Tuesday.
China also started to collect the special taxes on US-owned, operated, built, or flagged vessels, but stated that Chinese-built ships would be exempted from the levies. However, China's Commerce Ministry said in a statement on Tuesday that Beijing "hopes to resolve concerns through dialogue."
Source: Fxstreet
Silver hit its highest level in decades as a historic short squeeze in London intensified, with the renewed price surge adding urgency to the global rush for bullion that could ease the supply-demand ...
Silver prices surged to near record highs following a major short squeeze in the London market. Meanwhile, gold hit a new record above US$4,060 per ounce, driven by surging demand for safe haven asset...
Silver surged toward an all-time high above $50 an ounce as a historic squeeze deepened in the London market. Spot prices rose as much as 3.7% to above $51 an ounce before paring some gains, while on...
Spot silver prices surged to their highest level in decades as surging demand for safe-haven assets exacerbated supply constraints in the London bullion market. The precious metal surged 2.3% past $50...
Silver prices (XAG/USD) rose to around $48.65 in early European trading on Wednesday (October 8th). The metal strengthened slightly, approaching a 14-year high amid growing expectations of a Fed rate ...
Federal Reserve Chair Jerome Powell on Tuesday delivers his last scheduled remarks before the Fed's next meeting with the economy enjoying stronger-than-expected growth and a recent jump in productivity, but still adjusting to tariff and...
Along with expectations that Powell may signal that the US central bank will remain cautious or cautious in easing interest rate policy. At the time of writing, Gold Price was at $4,134. Source: Newsmaker.id
The U.S. dollar was choppy on Tuesday, as investors attempted to gauge the longevity of a flare-up in trade tensions between the U.S. and China. U.S. President Donald Trump has appeared to rein in his strident rhetoric about China in recent days,...
European stocks started the week in positive territory, with the STOXX 50 rising 0.9% and the STOXX 600 adding 0.6%, as traders geared up for the...
President Donald Trump's administration on Sunday signaled openness to a trade deal with China, even as tensions escalated over Beijing's new export...
Asia-Pacific markets traded mixed Tuesday, breaking ranks with Wall Street that soared after U.S. President Donald Trump softened his stance on...
President Donald Trump arrived in the Egyptian resort of Sharm El-Sheikh on Monday for a summit with several other world leaders aimed at ensuring...