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...
Gold prices steadied near a two-week high in Asian trade on Wednesday as geopolitical instability in Asia and the Middle East underpinned safe haven demand. The yellow metal also caught some bids as markets turned risk-averse ahead of key U.S. inflation data due later on Wednesday, which is likely to factor into the outlook for rates. Among industrial metals, copper prices rose sharply on sustained optimism over more stimulus measures in top importer China. Encouraging copper import data from the country also aided sentiment. Source: Investing.com
Gold rose during the North American session on Tuesday with buyers eyeing the $2,700 mark for the first time since November 25. One of the drivers of the yellow metal's rise was expectations that the Federal Reserve (Fed) will cut interest rates at its December meeting. At the time of writing, XAU/USD was trading at $2,694, up 1.32%. US economic data released on the day showed that small businesses have grown optimistic about the economy, according to a survey by the National Federation of Independent Business. However, traders are focused on the release of US inflation figures on the...
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