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...
Silver prices (XAG/USD) continued their decline for the second consecutive session, trading around $39.10 per troy ounce during the Asian session on Thursday (July 24th). Silver prices weakened due to weakening demand for safe-haven assets, driven by optimism over further trade deals between the US and its major partners.As of this writing, silver prices were at $39,402. Source: Newsmaker.id
Gold prices continued to decline on Thursday (July 24th), as easing trade tensions reduced demand for safe-haven assets, offsetting support from a weakening dollar.As of this writing, gold was at $3,362. Source: Newsmaker.id
Silver prices fell to around $38.99 per ounce as the market grew more optimistic about a trade deal between the US, EU, and Japan. Demand for safe-haven assets weakened, despite lingering uncertainty regarding US tariffs on South Korea, India, and the outcome of next week's Fed meeting. Technically, silver is holding below the $40.00 resistance and is now testing the $38.60 support. A breakout would potentially lead to a drop to $38.00. However, if it holds above $39.00, there is a chance of a rebound if dovish sentiment from the Fed emerges. Source: Newsmaker.id
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