silver
Silver prices remained relatively subdued on Friday, heading for yet another significant weekly decline. Investors are closely watching economic indicators to gain insights into potential US interest rate cuts in September, while also keeping an eye on next week’s inflation data. Despite recent setbacks, silver has shown some resilience by maintaining support above its 200-day moving average, although traders remain cautious about the potential for further downside movement. Silver’s trading range: Navigating key support and resistance levelsLast week’s trading activity in silver (XAG/USD) has...
Invezz
Silver price has wavered this week even as gold rose for four days straight and soared to an all-time high of $2,480. XAG was trading at $31.1 on Tuesday, a few points below the year-to-date high of $32.50. China’s growth is slowingSilver price has done well this year as it jumped by more than 42% from its lowest point in January and by 76% from its 2022 low. Silver trailed gold this week because of a relatively negative economic data from China. In a report, the National Bureau of Statistics (NBS) said that the economy expanded by 0.7% in the second quarter, slowing from 1.5% in Q1. It expand...
Invezz
Expectations of gold prices surpassing $2,400 per ounce initially contributed to substantial inflows into gold exchange-traded funds (ETFs). However, these inflows saw a decline in June due to a reduction in return on investment, as per analysts. The Association of Mutual Funds in India (AMFI) released data on Tuesday indicating a notable shift in the investment landscape for precious metals. Gold ETF inflows drop amid price correctionsGold ETFs experienced net inflows of 7.26 billion rupees in June, marking a 12% decrease from the 8.27 billion rupees recorded in May. Despite the dip in inflow...
Invezz
The price of palladium experienced a significant drop on Tuesday, falling 5.53% to $925.78 per ounce. This decline came after the metal reached almost a month-high on Monday, only to surrender those gains as demand appeared to stall and the dollar strengthened. Broad impact on precious metals market The downturn in palladium prices was part of a broader decline in the precious metals market. Gold also saw a decrease, falling 0.37% to $2,325.62 per ounce, while silver dropped 1.36% to $29.18 per ounce. Platinum lost 0.89%, selling for $989.33 per ounce at the same time. This broader decline in ...
Invezz
Silverspotpriset (XAGUSD) anses ofta vara det “dåliga förhållandet” mellan guld som en fristadsaktie och har nyligen lyst av sig självt. Spotpriset för XAGUSD har stigit nästan 4 % idag hittills, runt 3,8 %, till över 30,80 USD per troy ounce. Faktum är att silverpriset har stigit med mer än 31 % hittills i år och över 16 % den senaste månaden. Detta är ännu mer ett rally än spotpriset för guld (XAUUSD), som hittills har ökat någonstans i området 13,5 % i år hittills, och mindre än 1 % under den senaste månaden, när denna artikel skrevs . SilverkulanSilver nådde ett flerårigt rekord den 20 maj...
Invezz - SV
Often considered the ‘poor relation’ of gold as a safe haven stock, the silver spot price (XAGUSD) has shone of its own accord recently. The XAGUSD spot price is up almost 4% today so far, at around 3.8%, to over $30.80 per troy ounce. In fact, silver’s price is up by more than 31% this year to date and over 16% in the past month. This is even more of a rally than the gold spot price (XAUUSD), which has so far increased somewhere in the region of 13.5% this year to date, and less than 1% in the past month, at the time of this article’s writing. The silver bulletSilver hit a multi-year high on ...
Invezz
As the white metal hangs on for dear life, the fundamentals continue to grow more ominous. Unveiling the RealityWhile silver has been a major beneficiary of the ‘bank crisis means rate cuts’ narrative, this is 2021/2022 all over again. When the crowd attempts to front-run a recession, it negates the recession due to the stimulative effect of lower long-term interest rates. That’s why sentiment surrounding silver has gone from euphoric to catastrophic several times over the last two years, and we believe another shift should occur over the next several months. To that point, not only have rate-...
ValueWalk
As anxiety grips the white metal, is a retest of the 2023 lows or highs more likely? There is a misnomer in the financial markets that inflation is a supply-side phenomenon. In a nutshell: COVID-19 restrictions, labor shortages, and manufacturing disruptions are the reasons for inflation’s reign. As such, when these issues are no longer present, inflation will normalize and the U.S. economy will enjoy a “soft landing.” However, investors’ faith in the narrative will likely lead to plenty of pain over the medium term…. U.S. households have nearly $3.89 trillion in their checking accounts. For c...
ValueWalk
After a brief rally, U.S. nonfarm payrolls helped suppress silver’s momentum. Is there more downside ahead? While the permabulls bought into the rate-cut hype, we warned on Apr. 14 that the fundamentals did not support their enthusiasm. We wrote: Market participants are pricing in ~60 basis points of rate cuts. If those cuts get priced out, the market impact is similar to the Fed raising the U.S. federal funds rate (FFR). No matter how you slice it, no cuts means the FFR stays higher for longer, and a realization should have a profound impact on the PMs….. Mining stocks are particularly vulner...
ValueWalk
After support became resistance, are lower prices ahead, or is this just a cooling-off period? To explain, the red line above tracks the daily copper futures price, while the gray line above tracks the daily silver futures price. If you analyze the relationship, you can see that the pair have largely moved in lockstep since late 2021. And with copper trading near its March lows, silver’s outperformance is likely living on borrowed time. To further emphasize the point, please see the pair’s relationship on the monthly chart: To explain, the box in the middle shows how when silver decoupled from...
ValueWalk
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