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Silver Price News: Silver Ends Lower After Spiking Above $34.00 an Ounce
Silver prices ultimately ended lower on Friday, having briefly rallied above the $34.00 an ounce mark.
Prices eased to a low of $32.18 an ounce late Friday, falling sharply from an intraday high of $34.34 an ounce – a three-month-high.
US manufacturing sends bullish signal:
US manufacturing production rose by 1% in January, on a year-on-year basis, according to figures released Friday, following months of contraction. This may have sent a bullish signal for industrial demand for silver in the US, a major consumer of the metal. However, on a month-on-month basis, January’s figure represented a 0.1% drop.
Gold pulls silver lower:
As the markets mulled the true impact of the latest US stats, in the background, gold prices went into sharp retreat on Friday as efforts to find a peace deal in Ukraine got underway at a conference in Munich. The sudden drop in gold prices provided a bearish backdrop for silver, which duly followed lower to end Friday about 0.7% in the red.
November and December 2024 saw quite a shake-out for silver prices, which formed something of a base at around $29.00 an ounce, and this level has served as a platform for solid gains since the start of 2025, with prices moving higher once again to test their 12-year highs seen in October 2024. Read More
Gold Price News: Gold Dips Amid Efforts to Find Peace in Ukraine
Gold prices fell over 1% on Friday, as the markets reacted to US-led efforts to find a peace deal between Russia and Ukraine.
Prices fell as low as $2,883 an ounce on Friday afternoon, down from an intraday high of $2,994 an ounce and from around $2,932 an ounce in late trades on Thursday.
Eyes on Munich Security Conference:
Ukraine’s President Volodymyr Zelensky met with US Vice President JD Vance and other officials in Munich on Friday to discuss plans for ending the war with Russia. While Zelensky said more work was needed to find a peaceful settlement, the latest developments raised the prospect of an end to hostilities in the coming weeks or months, removing some of gold’s safe-haven appeal.
Nevertheless, gold prices remain near their recent all-time highs, and ongoing supportive elements include concerns over the outlook for the world economy amid signs of an escalating trade war and expected further cuts to interest rates this year by major central banks. Read More
Gold and silver bullion won’t be heading back to the UK, silver is now the best play in commodities – TD Securities’ Ghali
The massive outflows of gold and silver bullion from the UK into the U.S. will not likely return even after the tariff and trade situation is resolved, and while gold prices are poised to continue setting fresh all-time highs, the setup for silver is even stronger, according to TD Securities’ senior commodity strategist Daniel Ghali.
In a Feb. 12 interview, Ghali said that a stronger dollar has historically been bad for commodities, including precious metals, but that's no longer the case.
“Gold has an exceptionally strong setup at the moment,” he said. “The best way that gold bugs can call this setup is ‘Heads I win, tails you lose.’ It's a setup in which a stronger dollar is actually acute enough to catalyze what we call ‘mystery buyer activity,’ buying predominantly out of Asia – from central banks, from retail participants, and institutional investors – that is ultimately all tied to currency depreciation hedges.”
Ghali said this has been the case for more than two years now. “When the US dollar is strong enough, it actually has a counterintuitive impact,” he said. “Conversely, if the U.S. dollar weakens [and] U.S. rates decline, macro funds now have some bullets to deploy and they're adding gold in that situation. So this is the context where heads I win, tails you lose.” Read More
Is silver the best way to play the gold boom?
Gold continues to beat the headwinds of high rates and a strong dollar amid its rally toward $3,000, but while the major drivers remain in place, silver may be the better play going forward, according to Tom Stevenson for Fidelity International.
After noting that gold prices have increased by a factor of 10 since 2000, and by over $1,000 since late 2023, Stevenson said the yellow metal really shouldn’t be this high.
“Traditionally, the precious metal performs badly when interest rates rise,” he said. “That is because, unlike bonds, shares, cash, or property, it does not pay investors an income. When the yields on those other assets are attractive, there is less incentive to hold ‘the barbarous relic’ as the economist John Maynard Keynes called gold. That is the case today, but still gold is hitting new records.”
Stevenson said gold should also favor a weak dollar. “The metal is denominated in the US currency. When other currencies are strong versus the dollar, they can buy more gold. When they are weak against the greenback, they can buy less, and so the price should fall,” he wrote. “Today’s Trump-fuelled strong dollar should be a headwind for the gold price. Clearly, it is not.”
“So, the performance of gold is telling us something else,” he said. “The message it sends is that all is not well with the world. It says that investors are worried, and history shows that it is unwise to ignore the signals that gold sends at times of stress.” Read More
This is what it will take to drive gold prices to $3,500 - Bank of America
Bank of America remains bullish on gold and maintains its forecast for prices to reach $3,000 an ounce; however, the bank also acknowledged that this target could be just another marker that falls by the wayside within a much bigger rally.
The gold market has seen a strong start to the year, with prices rallying to new record highs above $2,900 an ounce, up roughly 11% year-to-date.
“So far, gold has rallied mostly on the back of exceptional purchases by the official sector,” said Michael Widmer, Commodity Strategist at Bank of America, in his latest research report. “Worried about the US fiscal deficit, trade disputes, wars, sanctions, and asset freezes, central banks and other investors have pushed spot gold prices to a record.”
Looking ahead, Widmer explained that as central bank gold purchases dominate the marketplace, global investment demand has to increase by only 1% for the precious metal to hit the bank’s target.
At the same time, Widmer noted that a 10% increase in investment demand would drive prices to $3,500 an ounce.
“That's a lot, but not impossible,” he said. Read More
U.S. sitting on a gold fortune, but can it actually fix the debt problem?
The U.S. government, as it looks to cut costs, could be sitting on a nearly $800 billion windfall, but some analysts say the long-term risks may outweigh any short-term gains.
There is growing speculation that the U.S. government could adjust the value of its gold reserves. The U.S. Treasury holds the world's largest gold stockpile of 8,100 tonnes; however, the value of this gold hasn't changed since 1972, when the price was set at $42 an ounce.
Some analysts have noted that if the government revalued its gold reserves at current prices, which are above $2,900 an ounce, it could add more than $760 billion to the Treasury Department's coffers.
Speculation surrounding the U.S. government's gold hoard started to ramp up last week after newly-minted Treasury Secretary Scott Bessent said that he would "monetize the asset side of the U.S. balance sheet."
However, on Thursday, Bloomberg reported that an unnamed source said this idea was not "under serious consideration" among President Donald Trump's top economic advisers. Read More
End is near? Why doomsday clock is ticking: ‘debt already insolvent’, ‘system manipulated’ – Jeff Booth
President Donald Trump has signed an executive order to establish a U.S. sovereign wealth fund, aiming to convert government assets into revenue-generating investments. This move has sparked debate over how the fund will be structured and whether Bitcoin could be included as a strategic reserve asset.
According to Jeff Booth, entrepreneur and author of The Price of Tomorrow, the current economic system is unsustainable, relying heavily on debt to fuel growth. “It took $185 trillion of debt to produce about $46 trillion of GDP growth over the last twenty years,” Booth told Kitco News, emphasizing how the debt cycle is becoming increasingly unmanageable. He warns that technology is accelerating deflation, making it impossible for governments to maintain economic expansion through traditional monetary policies. “Technology is a deflationary force so great that, in the end, nothing we do will stop it.”
With sovereign debt at record highs, Jeff Booth argues that Bitcoin offers a necessary escape from a financial system he sees as unsustainable. “Bitcoin is a solution out of that problem,” he stated, emphasizing that the traditional debt-based economy is structurally broken. According to Booth, “debt [is] already insolvent,” and the only way to maintain the system is through continuous money printing and inflation. He warns that as governments manipulate interest rates and expand credit, they are delaying an inevitable reckoning, making it crucial for individuals and institutions to seek alternatives. Unlike fiat currencies that can be endlessly debased, Bitcoin operates on a decentralized, energy-backed system with a fixed supply, making it an asset that cannot be manipulated by central banks. Watch the podcast
Gold at $3,500 may be inevitable, and silver won’t be left behind
There is no doubt that the gold market is in a long-term bull market, but it is important to remember that nothing goes up in a straight line, and there will be periods of volatility.
Analysts have been warning investors for the last couple of weeks, as prices broke solidly above $2,800, that the gold market was looking a little overbought. So, it's not surprising that we are finally starting to see some profit-taking, as gold prices have rallied more than 11% so far this year.
Silver, on the other hand, is much more frustrating to trade. Despite its bullish fundamentals, it has not seen the same gains as gold. Silver is also more unpredictable, as it is twice as volatile as gold.
We saw this volatility in action on Friday. Overnight, silver broke above initial resistance at $33 and rallied all the way to $34 an ounce.
Unfortunately, the move attracted some major selling pressure, and silver is now ending the session down more than 4% from its highs, trading at $32.67 an ounce.
Although silver’s selloff is disappointing, many analysts recommend that investors look beyond the short-term volatility and remain focused on the long-term picture. A growing chorus of analysts are extremely bullish on silver as demand continues to outweigh supply. Read More
Wall Street worries about a near-term top, Main Street remains bullish on gold prices next week
The gold market was buffeted by inflation data, congressional testimony, tariff threats, and geopolitical developments this week, but by Friday afternoon the pressure was off, and some traders were rethinking their near-term bullish strategy.
Spot gold kicked off the week trading at $2,863.31, but it quickly left that level in the dust, trading up to $2,880 per ounce by midnight Eastern, and as high as $2,905 by the North American market open on Monday morning. By 9:00 p.m. EST Monday evening, spot gold hit a new high of $2,940 per ounce.
The $2,900 level provided solid support throughout the week, as gold prices lurched up and down in reaction to each day's economic data and market-moving statements. Read More
Economic events could affect gold prices
Gold prices are volatile due to the U.S. currency, inflation predictions, and geopolitical uncertainty. Several major economic developments in the closing weeks of February might affect gold prices. We will analyse these occurrences and how gold may respond to good and bad economic data.
1. Feb 18, 2025: President Trump's Speech:
President Trump's February 18 address might cause market turbulence. While the speech is considered "tentative," markets will keenly watch any pronouncements about U.S. economic strategy, fiscal stimulus, trade ties, or tariff preparations.
Possible Effect on Gold:
Better Than Expected (Dovish Remarks): If President Trump favours low interest rates or tariff delays, the currency may drop. A weakening currency makes gold a more appealing store of wealth, potentially raising gold prices.
Worse Than Expected (Hawkish Remarks): Gold prices might fall if the president's speech raises worries about economic plans that could strengthen the currency or tighten monetary conditions. A tougher tariff policy might enhance market volatility and dollar demand, lowering gold prices. Read More
Gold and silver prices recover from Friday’s selloff: What’s next for the precious metals?
Gold and silver prices are trying to stabilize on a quiet Monday, as North American markets are closed for their respective holidays.
U.S. markets are closed in recognition of Presidents’ Day, while Ontario’s Toronto Stock Exchange is closed as the Canadian province celebrates Family Day.
Although gold and silver saw disappointing price action on Friday, experiencing their worst daily loss since mid-December, some analysts note that the damage to the broad rallies has been limited.
The gold market started the week holding initial support around $2,880 an ounce. Spot gold last traded at $2,896.50 an ounce, up 0.50% on the day. Silver is also finding solid support, as it has bounced off its overnight lows just below $32 an ounce. Spot silver last traded at $32.20 an ounce, up 0.20% on the day.
Some analysts have said that silver faces a more difficult challenge, as Friday’s rejection of the breakout above $34.00 was quite severe.
However, looking beyond short-term volatility, many analysts have said both gold and silver remain a buy on dips. Read More
Gold's rally stalls as silver price hits a brick wall: What's next for precious metals?
Gold’s run to consecutive record highs appears to be stalling as the precious metal ends the week back below $2,900 an ounce on strong profit-taking.
While gold attracts the most attention in the marketplace, its selloff is muted compared to silver's disappointing breakout. Overnight, silver futures spiked sharply above $34 an ounce, hitting their highest level since late October. But the rally proved to be short-lived, as prices ended below $33 an ounce.
March silver traded at $32.585 an ounce as of 3:07 pm ET, up nearly% from last week; however, the precious metal is down more than 4% from its Friday session highs.
Meanwhile, gold is looking to eke out a small gain for the week, just barely notching a new all-time high. February gold futures last traded at $2,896.80 an ounce, up roughly $10 from last week.
Phillip Streible, Chief Market Strategist at Blue Line Futures, said that the selloff in silver has dragged the entire sector down. He added that while it was exciting to see the metal push back above $34 an ounce, because of its volatility, the move was too good to pass up for many investors.
“Silver has had a great run and for many investors who bought when prices were below $30, this was a great way to end the week,” he said. Read More
Tariff questions support safe-haven bid for gold, silver’s industrial demand drivers continue to strengthen – Heraeus
Trade tariff uncertainty will continue to support the safe haven bid beneath gold prices in the near term, while the growth of 5G networks and grid electrification are boosting silver’s long-term demand profile, according to precious metals analysts at Heraeus.
In their latest precious metals update, the analysts pointed to new gold investment from China’s insurance giants as a significant development.
“A group of 10 Chinese insurers have been cleared to invest up to 1% of their assets (~$27.4 billion) in bullion. At current gold prices, this equates to 295 tonnes – 34% of 2024’s total bar investment demand,” they wrote. “Bar investment demand rose 10% year-on-year in 2024, reaching 1,185 tonnes.”
“If these insurers act on their allocation, 2025’s investment demand could surge by at least 25% if all other sources remain flat,” they underlined.
The analysts noted that a 25% rise in total investment demand in 2024 led to 39 fresh record highs for gold prices. “With eight new all-time highs already in 2025, further capital inflows will likely sustain gold’s bullish momentum,” they said. “Moreover, trading volumes on the Shanghai Gold Exchange have surged to 44,000 tonnes over the last week, which is more than 95% of weekly volumes seen over the last four years of trading. This implies that Chinese investors and market participants coming back from the Chinese New Year holiday are not yet being discouraged by new record highs in both US dollar and yuan terms.” Read More
Will U.S. dollar’s slide propel gold to new all-time highs? - NDR’s Tim Hayes
The gold market continues to recover from Friday’s selloff as prices trade around $2,900 an ounce, and while analysts think the yellow metal is looking a little overbought, one analyst says that there is still plenty of upside potential in the near-term.
In his latest gold report, Tim Hayes, Chief Global Investment Strategist at Ned Davis Research, said growing weakness in the U.S. dollar and falling bond yields bode well for gold in the near-term.
“The potential threats posed by rising bond yields and a strengthening U.S. dollar have both diminished,” Hayes said in the note. “A bearish reading on our short-term dollar composite is casting a bullish vote in our Gold Watch report. And reversals in the momentum of both the expected 10-year real Treasury yield and TIPS yield have moved those indicators closer to renewed bullish readings.”
Hayes’ bearish outlook on the greenback comes as the U.S. dollar index hovers near a two-month low at 106.74 points.
Looking beyond gold’s short-term volatility, Hayes said that the precious metal is still within the early stages of both cyclical and secular bull markets. He noted that in December investor sentiment indicators were fairly negative but have moved into neutral territory but the indicators are still well below excessive optimism readings that would warn of a topping process. Read More
Live From The Vault - Episode: 210
Silver’s Biggest Opportunity in Years? Feat. Peter Krauth
In this week’s Live from the Vault, Andrew Maguire and silver market veteran Peter Krauth break down how the US, reliant on imports for 75% of its silver needs, faces a growing supply deficit as industrial demand continues to accelerate.
With silver ETFs seeing renewed inflow and physical shortages worsening, silver remains heavily undervalued compared to gold, but tightening supply and surging demand from AI, solar, and EV sectors could soon drive a major market repricing.
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image - Source: Unsplash
