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 strengthened slightly in early Asian trading on Thursday (July 24th), driven by the possibility of position adjustments after a three-day rally in gold futures ended overnight. The research team from Sucden Financial noted that although speculative interest in gold is starting to increase, the levels are still not extreme. Meanwhile, retail demand is starting to show signs of slowing. Analysts predict that gold prices will likely move in a consolidation phase in the near term, awaiting clarity on the direction of interest rate policy from the US Central Bank (The Fed). Without a...
Silver prices (XAG/USD) weakened slightly after reaching $39.39, their highest level since September 2011, and are currently trading around $39.20 per troy ounce during the Asian session on Wednesday (July 23). Silver prices were pressured by weakening demand for safe-haven assets, driven by the wave of trade deals.As of the release of this news, the price of silver was at $39,397. Source: Newsmaker.id
Gold prices weakened on Wednesday (July 23) due to improved risk appetite after US President Donald Trump announced a trade deal with Japan ahead of the upcoming tariff deadline. However, a weaker dollar and lower Treasury yields limited losses for US dollar-priced bullion.As of this writing, gold prices were at $3,421. Source: Newsmaker.id
Silver is currently at $39,290, supported by a weakening US dollar and global trade concerns, which are driving interest in safe-haven assets. Expectations of a Fed rate cut and industrial demand are also supporting prices. Technically, silver remains in an uptrend. Strong support is at $39.00, while the nearest resistance is at $39.50. A breakout of this resistance opens the potential for a rally to $40.00. The RSI is approaching overbought territory, signaling a possible short-term consolidation.Source: Newsmaker.id
Gold maintained its three-day rally as US President Donald Trump announced a highly anticipated trade deal with Japan, signaling progress in tense negotiations ahead of his August 1 tariff deadline. Bullion prices are trading near $3,430 an ounce, up 2.5% so far this week as Trump announced he would impose 15% and 19% tariffs on goods from Japan and the Philippines, strategic geopolitical allies. With several countries racing to secure trade deals, investors are seeking clarity, particularly on progress with China. Source: Newsmaker.id