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 prices dropped 1% to around $30.70 per ounce on Monday, giving back gains from the previous week and following a decline in gold prices as safe-haven demand for precious metals waned. The pullback came after US President-elect Donald Trump nominated hedge fund manager Scott Bessent as Treasury Secretary, reducing some market uncertainty. Bessent has signaled his support for Trump's tariff and tax cut plans, but markets expect him to prioritize economic and market stability over implementing sudden policy changes. Additionally, media reports indicated that Israel and Hezbollah,...
Gold price (XAU/USD) maintains its heavily offered tone through the first half of the European session on Monday. Scott Bessent's nomination as US Treasury Secretary clears a major point of uncertainty for markets. This, along with reports that Israel was close to reaching a ceasefire with the military group Hezbollah in Lebanon, boosts investors' confidence and turns out to be a key factor undermining demand for the safe-haven precious metal. Moreover, expectations that US President-elect Donald Trump's proposed policies could reignite inflation and limit the scope for the Federal...
Gold is steady after surging the most in 20 months last week as the escalation of the Russia-Ukraine war boosted demand for safe haven assets. Bullion is trading near $2,720 an ounce after jumping 6% last week as the conflict entered a dangerous new phase. President Vladimir Putin said his forces may use new missiles again after targeting Ukraine in retaliation for Kyiv's use of American and British weapons on Russian territory. Source: newsmaker.id
Gold (XAU/USD) rallies for the fifth day in a row. The precious metal pulls back below $2,700 again during the US session on Friday after the US Dollar (USD) gains ground following the release of stronger-than-expected activity data. Overall, however, Gold sees gains as inflaming Russia-Ukraine tensions drive renewed safe-haven flows. The preliminary US Global Composite PMI rises to 55.3 in November from 54.1 in October, according to data on Friday. The Manufacturing PMI rose to 48.8 in line with expectations and the Services PMI rose to 57.0 from 55.0 previously and beat expectations of...
Gold prices (XAU/USD) continued to maintain strong gains during the early European session and are currently trading near a two-week high, just below the $2700 level. Ongoing geopolitical risks due to the worsening Russia-Ukraine conflict helped the safe-haven precious metal extend its weekly uptrend for the fifth straight day. In addition, expectations that US President-elect Donald Trump's expansionary policies could reignite inflationary pressures turned out to be another factor that benefited the commodity, which is considered a hedge against inflation. Gold prices at the time of this...