Silver opened at 43,958 at the start of the Asian session, holding near its highest level in over 14 years. Market sentiment remains positive after the Fed cut interest rates last week, which has increased the demand for non-yielding assets like gold and silver. Additional support comes from industrial demand, particularly in China's renewable energy and solar panels, which continues to maintain high demand for silver. Furthermore, geopolitical tensions between Russia and NATO have strengthened investor interest in safe-haven assets. Fund flows into precious metal-based ETFs have also...
Silver (XAG/USD) prices remained stable near $30.50 per troy ounce during Asian trading hours on Wednesday (11/27). Daily chart analysis suggests a possible shift in momentum from bearish to bullish as the currency pair has been moving down along the upper boundary of a descending channel pattern. However, the 14-day Relative Strength Index (RSI) is currently below the 50 level, indicating a prevailing bearish sentiment. Furthermore, the XAG/USD currency pair remains below the 14- and nine-day Exponential Moving Averages (EMA), which signal a bearish outlook and indicate weakening...
Gold prices were steady on Wednesday (11/27) during the Asian trading session, boosted by a ceasefire agreement in the Middle East that weakened demand for safe haven assets, and investors awaited US economic data that would provide clues on the Federal Reserve's interest rate path. Gold prices are still up more than 25% this year on US monetary policy easing and rising geopolitical risks, but have been hit by a stronger dollar this month following Donald Trump's election victory. Source: newsmaker.id
Silver (XAG/USD) prices bounced around the $30.40 level on Tuesday, after falling sharply in the previous session. The white metal gained ground temporarily as the US Dollar (USD) weakened. However, its outlook has weakened as its safe-haven demand has weakened due to a potential de-escalation in the war between Israel and Iran. Israeli Ambassador Mike Herzog told on Israeli Army Radio that a ceasefire deal to end fighting between Israel and Lebanon-based Hezbollah fighters could be reached "within days", AlJazeera reported. Potential truce talks have diminished safe-haven demand for...
Silver prices were stable in the $30 area during the Asian trading session on Tuesday (11/26). The decline occurred after US President-elect Donald Trump nominated hedge fund manager Scott Bessent as Treasury Secretary, which reduced market uncertainty. Silver is currently trading at $30,360. In addition, reports that Israel and Hezbollah are close to reaching a ceasefire agreement are also other factors that have reduced demand for safe haven assets. Source: newsmaker.id
Gold fell as the dollar surged after President-elect Donald Trump threatened 25% tariffs on Canadian and Mexican imports. Bullion was trading near $2,620 an ounce after dropping 3.4% in the previous session as easing Middle East tensions dampened demand for safe-haven assets. Spot gold fell 0.1% to $2,621.45 an ounce at 8:29 a.m. in Singapore after dropping as much as 0.8% earlier. Source: newsmaker.id