Gold prices weakened slightly on Wednesday (August 6th), consolidating after four days of gains, as investors digested weak US economic data and the possibility of President Donald Trump appointing new members to the Fed board. At 08:30 GMT, spot gold fell 0.4% to $3,366.50 per ounce, while gold futures for December delivery also fell 0.4% to $3,420.72 per ounce. The precious metal had previously recorded four consecutive sessions of gains, including a 2% surge last Friday. Gold Supported by Expectations of a Fed Rate Cut Gold prices have recently been supported by expectations of an...
Silver (XAG/USD) prices edged up in the Asian afternoon session on Thursday (2/1), slightly paring the previous session's decline, while market participants are currently still looking for further clarity on the US Federal Reserve's interest rate path and President-elect Donald Trump's policies. Meanwhile, excess capacity in China's solar panel industry has prompted photovoltaic companies to sign up for a government self-discipline program aimed at regulating supply, limiting the demand outlook for silver from its top industry. Pressure is also noted from the threat of yuan devaluation in...
Silver prices (XAG/USD) fell on Tuesday (2/1), Silver was trading at $28.98 per troy ounce, down 0.14% from $29.00 on Monday last week. While in the Fed's aggressive outlook and uncertain demand for industrial silver utilities. Inflation concerns that also prompted the FOMC to project only a slight interest rate cut for the coming year, this also prompted the market to cut its exposure to non-yielding gold bullion assets. In addition, excess capacity in China's solar panel industry prompted photovoltaic companies to register for a government self-discipline program aimed at regulating...
Gold prices traded little changed at $2,626 in Asia to start 2025. The yellow metal had posted its best yearly gain on Tuesday after closing higher. Strong central bank buying, geopolitical uncertainty and monetary policy easing fueled a record-breaking rally in safe-haven gold in 2024, pushing it to an all-time high of $2,790.15 on Oct. 31.
Gold prices were on track for a more than 26% annual gain on Tuesday, their biggest annual gain since 2010, driven by safe-haven demand and central bank interest rate cuts, though sentiment could turn more cautious depending on policy changes under a second Trump administration. Robust central bank buying, geopolitical uncertainty and monetary policy easing fueled a record-breaking rally in safe-haven gold in 2024, pushing it to an all-time high of $2,790.15 on Oct. 31. Source: Newsmaker
Silver is set to decline in late 2024 as the gap between silver supply and demand deepens, highlighting the growing imbalance. Despite bullish supply fundamentals, silver's upside remains capped by Federal Reserve policy and a strong dollar. After cutting rates three times in late 2024, the Fed has signaled only 50 basis points of easing in 2025. This gradual approach is supportive of the dollar and keeps Treasury yields high, reducing the appeal of non-yielding assets like silver. Source: Newsmaker