Silver surged toward an all-time high above $50 an ounce as a historic squeeze deepened in the London market. Spot prices rose as much as 3.7% to above $51 an ounce before paring some gains, while one-month borrowing costs for the precious metal in London hit a year-to-date record of 35%. Gold and palladium also rose. Silver is up more than 70% this year, far outpacing gold, as investors seek safety amid US fiscal uncertainty, concerns over an overheated equity market, and threats to the Federal Reserve's independence. Earlier this year, concerns that the US could impose tariffs on silver...
Gold price rises during the North American session on Friday amid an escalation of the trade war between the US and China. This, the US government shutdown and expectation for further easing by the Federal Reserve (Fed) keep the yellow metal bid. XAU/USD trades at $3,997, up 0.60%, at the time of writing. Bullion's boosted by escalating tariff threats and prolonged Washington deadlock reigniting risk aversion Risk aversion is the name of the game after US President Donald Trump warned of possible fresh duties on China, as the latter threatens to impose export controls on rare earths. Trump...
Oil rose after after President Donald Trump's administration signaled openness to a deal with China to quell fresh trade tensions between the two biggest crude consumers. Brent advanced above $63 a barrel after plunging 3.8% on Friday in its biggest drop since August, while West Texas Intermediate was near $60. Trump on Friday announced an additional 100% tariff on China as well as export controls on "any and all critical software" beginning Nov. 1, following moves by Beijing to add new port fees on US ships and curbs on exports of rare earths and other critical materials....
Silver prices surged to near record highs following a major short squeeze in the London market. Meanwhile, gold hit a new record above US$4,060 per ounce, driven by surging demand for safe haven assets amid trade tensions between the United States and China. Other precious metals, such as platinum and palladium, also rallied by more than 2%. This price increase was driven by a combination of massive central bank purchases, increased ownership in ETFs, and the Federal Reserve's low interest rate policy. Furthermore, political uncertainty in the US and the threat of new tariffs on China have...
Gold rises in early Asian trade, buoyed by monetary debasement fears. "The U.S. Treasury's interest payments have overtaken annual defence spending, the Fed faces political scrutiny over its independence and developed-market debt ratios continue to climb despite record nominal GDP," Saxo Bank's Ole Hansen says in an email. Debasement, "once confined to history books, has re-emerged in market vocabulary as faith in fiat currencies erodes under the weight of chronic deficits, politicised monetary policy, and falling real yields," the head of Commodity Strategy adds. Spot gold is 0.5% higher...