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...
Gold prices strengthened in the early Asian session, with spot gold rising around 0.6% to around US$4,102.58 per troy ounce. This increase was supported by increased investment interest, after data on institutional holdings in large gold ETFs showed more companies adding to their gold positions. TD Securities also believes the trend of gold buying by central banks will continue in the long term. The combination of institutional investors and central banks makes gold attractive as a safe haven asset amid global uncertainty.The gold price at the time of this analysis was released was...
Silver prices strengthened on Wednesday (November 19th) as investor interest in precious metals improved. In recent trading, silver (XAG/USD) rose slightly and regained ground above the US$51 per troy ounce level, after a correction in the previous few sessions. This strengthening occurred amid a market atmosphere that remains risk-off, as market participants await the release of US employment data (NFP) and the latest developments on expectations of a Fed interest rate cut in December. The probability of a rate cut has indeed decreased to around 40 percent, but the prospect of interest...
Gold prices strengthened again on Wednesday (November 19th) as investors sought safe-haven assets amid worsening risk sentiment. This increase was supported by weak US economic data, particularly labor market indicators, leading the market to re-increase expectations that the Federal Reserve will cut interest rates in December. The prospect of lower interest rates pressured US bond yields and bolstered the appeal of non-coupon gold. Source: Newsmaker.id
Oil prices fell slightly after a report showed a sharp rise in US crude stockpiles. Brent for January delivery was trading at around US$64.6 per barrel, while WTI for December was around US$60.4. Data from the American Petroleum Institute showed an increase in inventories of around 4.4 million barrels, which could push US oil stocks to their highest level in more than five months, although the market is also still monitoring the impact of Western sanctions on Russian producers Rosneft and Lukoil.Trendwise, oil has weakened this year due to concerns that global supply will exceed demand. The...
Gold prices weakened to around $4,060 per ounce on Wednesday, paring some of the gains recorded in the previous session. This movement occurred as investors opted for caution ahead of the release of two important data points from the United States: the minutes of the Federal Reserve's (FOMC) meeting, released today, and the employment report, due Thursday. Both releases are expected to provide clearer clues regarding the future direction of interest rates. Several delayed US economic data began to be released again after the government shutdown ended. Claims for unemployment benefits rose...