Silver prices are currently trading above $74.49 per ounce in the US session on Friday (December 26th), extending a remarkable rally that began several months ago, fueled by geopolitical tensions and a weakening US dollar. This surge was fueled by continued speculation, supply dislocations in major trading centers, and a large influx of funds into silver-backed ETFs. Rising demand, from both the investment and industrial sectors, has made silver a leading choice amidst the global economy.Silver is also supported by fundamental factors such as rising geopolitical tensions and concerns about...
Silver prices are fluctuating today after a strong rally that reached an all-time high of around $59.33 per ounce. The white metal briefly corrected by around 1.4% due to profit-taking, but investor interest remains solid. Inflows into silver-based ETFs last week were the strongest since July, reaching nearly 590 tons, indicating that many market participants believe the silver rally still has room to continue, even though the 14-day RSI indicator is approaching overbought territory and signaling the risk of a technical correction. Fundamentally, the silver rally is supported by...
Silver prices are now stable around $57 per ounce after hitting an all-time high near $59 earlier in the week. A decline of more than 2% in the previous session ended an eight-day rally and pushed silver out of overbought territory, as many traders opted to take profits from the recent rapid rise. Nevertheless, the underlying sentiment remains positive as the market is almost certain the Federal Reserve will cut interest rates at its meeting next week, which typically benefits non-yielding precious metals like silver and gold. At 7:45 a.m. Singapore time, silver edged down 0.2% to $57.02...
Brent oil prices today remain heavily influenced by two main factors: the global demand outlook and supply issues from major producing countries. On the demand side, the market is still grappling with concerns about a global economic slowdown amidst the interest rate cut cycle of major central banks, such as the Fed and Europe. On the supply side, Brent prices are held back by geopolitical risk sentiment and signals of a supply glut. Tensions in oil-producing regions (Russia-Ukraine, the Middle East, and policies toward Venezuela and Iran) remain a price-supporting factor, raising the risk...
Gold prices edged up and held around $4,210 per troy ounce, still comfortably above $4,200. Much weaker-than-expected US private employment data (ADP) weakened the dollar, increasing market confidence that the Fed will cut interest rates by 25 basis points next week. This is the "main fuel" for gold.Going forward, gold's direction depends heavily on US jobless claims and PCE inflation data. If the data increasingly indicates a slowing economy and tame inflation, speculation about a rate cut will strengthen, and gold has the opportunity to rise further. If inflation remains hot, gold's upside...
Gold prices rose again in the Asian session on Wednesday (December 3rd) after holding around $4,164, nearing its highest level since late October. This increase was driven by strong expectations that the Federal Reserve will cut interest rates next week. Speculation that Jerome Powell's successor might be more dovish also weakened the US dollar, giving room for gold—which offers no yield—to strengthen. In addition to interest rate factors, geopolitical tensions such as the Russia-Ukraine conflict have led investors to return to gold as a safe haven asset. Although sentiment in the stock...