Silver prices (XAG/USD) reversed their decline on Wednesday (January 7th) after three sessions of surges. Silver fell around 2.5% to around US$79.27 per troy ounce in the latest trading session, marking a "cooling off" phase after briefly approaching record levels. This decline was primarily driven by profit-taking. After a rapid rally in recent days, many market participants opted to lock in profits—especially ahead of a series of US economic data that typically triggers significant volatility in precious metals. Additional pressure came from the strengthening US dollar. The dollar index...
Gold prices weakened on Wednesday (January 7) after briefly touching their highest level in more than a week earlier in the session. Pressure arose as investors opted to take profits after a brief rally, while the market began to focus on a series of US jobs data that could alter expectations for the Fed's interest rate direction. In recent trading, spot gold fell 0.8% to $4,460/oz. Gold's weakness was also triggered by the strengthening US dollar, which remained near its highest level in more than two weeks. When the dollar strengthens, gold priced in USD automatically becomes more...
The silver market remains firmly focused on the fundamentals that support today's high prices. Despite some corrections in recent days, the underlying structure of the silver market remains tight due to limited supply and continued rising demand from the industrial and investment sectors. Global physical silver stocks are expected to dwindle as new production is unable to grow rapidly, while demand from various industries remains strong. One of the main reasons for silver's price movements is massive industrial demand. Silver is essential for the manufacture of solar panels, electric...
World oil prices fell sharply again after traders began considering the possibility of an end to the Russia-Ukraine war. West Texas Intermediate (WTI) crude was trading near $57 per barrel, after previously falling around 2% from the previous day's closing level. Meanwhile, Brent was also below $61 per barrel, reflecting a more cautious market sentiment. Market participants believe that an end to the war could reopen Russian oil exports, which have been restricted by sanctions. This development comes after allies the US and Ukraine reportedly reached an agreement on a security guarantee...