Silver prices strengthened on Wednesday (August 13th) amid positive sentiment in the precious metals market. This strengthening was driven by a weakening US dollar following the release of weaker-than-expected US economic data, fueling speculation that the Federal Reserve could soon cut interest rates. Silver demand was also supported by a solid industrial outlook, particularly in the renewable energy and manufacturing sectors, strengthening its appeal as both a safe haven asset and an industrial commodity. Source: Newsmaker.id(alg)
Gold prices continued their rally on Tuesday. China's Politburo, promising further economic stimulus to support growth, and the resumption of Gold purchases by the People's Bank of China (PBOC) acted as a boost for the precious metal. Another source of support for Gold was safe-haven flows fueled by uncertainty in the Middle East, following the fall of the Bashar al-Assad regime in Syria, and political deadlock in France and Germany. Finally, rising bets that the Federal Reserve (Fed) will cut interest rates next week pushed US yields to multi-week lows, providing additional support for...
Silver prices followed gold's gains in the European session on Tuesday (10/12), trading near $31.90 and hitting an intraday peak of $32.04. The metal's safe haven status and close correlation with gold have supported its gains. Market uncertainty surrounding geopolitical instability and U.S. economic policy has boosted silver's appeal as a store of value. However, like gold, silver's rally has faced resistance from a stronger U.S. dollar. The People's Bank of China's gold purchases reflect broader global demand trends. Coupled with concerns about potential inflation stemming from Trump's...
Gold prices rose in Europe on Tuesday (10/12), still supported by optimism about a Fed rate cut this month, fiscal stimulus from China and geopolitical tensions in the Middle East. Investors are eyeing the release of the US Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday, both of which are expected to have an impact on the Federal Reserve's interest rate cut decision. Traders now see about a 90% chance of a 25 basis point rate cut next week, according to the CME FedWatch tool, up significantly from 73% last week. Source: newsmaker.id
Silver (XAG/USD) prices extended its rally for the second day, trading around $32.00 per troy ounce during Asian hours on Tuesday. The daily chart analysis shows a bullish bias, with the currency pair moving up within an ascending channel pattern. Moreover, the 14-day Relative Strength Index (RSI) remains above the 50 mark, further supporting the bullish sentiment. The XAG/USD pair continues to trade above the nine- and 14-day Exponential Moving Averages (EMAs), strengthening the bullish outlook and signaling a strengthening of the short-term price momentum. This indicates increased buying...
Gold steadied after rallying as traders shifted focus to a key US inflation report due later this week that could shape expectations ahead of the Federal Reserve's final interest rate decision of the year. Bullion prices held near $2,660 an ounce — near a two-week high — after China's central bank added the precious metal to its reserves for the first time in seven months. Geopolitical concerns also fueled demand for safe-haven assets amid fears of a power vacuum in Syria after Bashar al-Assad was ousted from power over the weekend.