Demand for silver continues to rise sharply, driven primarily by the technology, electric vehicle, and solar power sectors—where silver is highly sought after due to its superior electrical conductivity. Meanwhile, silver supply remains limited because many mines only produce silver as a byproduct of copper, lead, or zinc—so even when prices rise, production does not immediately respond.Due to the combination of rising demand and slow supply growth, the silver market has recorded a structural deficit for several consecutive years. This provides a strong fundamental basis for the potential...
Silver briefly slipped below $47 per ounce on Friday (October 3rd), but still has the potential to post a seventh consecutive weekly gain. The main driving force comes from expectations of further Fed interest rate cuts and uncertainty stemming from the US government shutdown. A string of recent US data has heightened speculation of easing, with the market almost fully pricing in a 25-bps cut this month and another in December. From a policy perspective, the government shutdown has so far seen minimal immediate impact, but it has raised concerns about fiscal direction, inflation risks, and...
Gold approaches $3,860/oz, poised for its seventh weekly gain. The US shutdown has caused a data blackout, with the market and the Fed focusing on private sector releases, with weak recruitment and fewer layoffs. Market money has almost fully priced in a 25 bps cut by the end of the month and the possibility of another cut in December.Structural support: central bank spending and ETF flows.But be wary of a pullback. The rapid rally is overbought, with profit-taking already emerging after the record. A dovish narrative maintains the continued bullish trend; conversely, a stronger dollar or a...
Goldman Sachs remains very optimistic about gold. Recent inflows into gold-backed ETFs and retail investor interest have far exceeded their expectations, creating an "upside opportunity" to exceed their $4,000/oz (mid-2026) and $4,300/oz (late next year) targets. In fact, a scenario of gold approaching $5,000/oz is considered increasingly likely if a small portion of US Treasury securities funds shift into gold. In terms of prices, gold has risen around 12% since August 29th, breaking out of the $3,200–$3,450 range. This rise isn't solely driven by speculators; central bank buying and...
This morning, during the Asian session, silver traded around $47/oz, remaining near a 14-year peak after breaking through $47 earlier in the week. The primary driver came from safe-haven demand following the official US government shutdown on October 1, triggering market caution. At the same time, the US dollar has tended to weaken and Treasury yields have eased slightly, lowering the opportunity cost of holding precious metals—a combination that benefits silver prices. Fundamentally, the silver market is also supported by a supply-demand gap (deficit) projected to persist for a fifth...
Brent crude oil prices rose to around $66.43 per barrel in Wednesday afternoon trading during the European session (October 1). This increase occurred after two consecutive days of declines, as market participants began anticipating the OPEC+ decision at this weekend's meeting. There is speculation that OPEC+ will discuss the possibility of accelerating supply increases, although no official decision has been announced. Meanwhile, market sentiment is still clouded by the potential for a US government shutdown, which could slow economic activity and suppress energy demand. However, a sharp...