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Silver Price News: Silver Breaks Four-Day Fall
Silver prices found a firmer footing on Tuesday, ending a four-day losing run, as gold prices moved back above $3,020 an ounce. Silver prices rose as high as $33.69 an ounce on Tuesday, up from around $33.00 an ounce in late trades on Monday.
Tensions maintain interest in safe havens:
Geopolitical tensions continued to provide a supportive element for precious metals. In Gaza, military strikes by Israel against Hamas in recent days have thrown hopes of peace into disarray, while by contrast, Russia and Ukraine signed a tentative maritime ceasefire deal on Tuesday, with both sides vowing to stop missile strikes against commercial shipping in the Black Sea.
Technical analysis:
Silver’s strength on Tuesday came as prices rebounded off rising oblique major support at $33.06 an ounce, as well as descending oblique minor support at $33.03 an ounce. These levels could be important to watch in the coming days to gauge silver’s direction in the short-term. Any downside break from here would bring attention to oblique major support at $31.48 an ounce, which is linked to the rising trend in evidence since mid-December 2024. Read More
Gold Price News: Gold Moves Higher as Dip Attracts Buyers
Gold prices snapped a three-day losing streak on Tuesday, posting incremental gains to move back above the $3,020 an ounce level.
Prices crept up to an intraday high of $3,036 an ounce, compared with around $3,011 an ounce in late trades on Monday. The modest uptick came as gold’s recent losses attracted buyers back into the market.
Gold caught between opposites:
Gold prices were caught between opposing forces, with the upside limited due to a more ‘risk-on’ mood in the wider financial markets, while at the same time, uncertainty over US trade policies continued to keep safe havens in the spotlight.
Stock markets have mainly been in a bullish mood since the lows of mid-March, and this has taken the edge off gold as a contrarian bet, limiting the precious metal’s upward march. Nevertheless, there are enough wild card factors still in play to keep the markets guessing, with the Israel/Palestine tensions and Russia/Ukraine conflict continuing to provide geopolitical uncertainties.
Technical analysis:
On the technical charts, gold managed to hold up above rising oblique major support at $3,000 an ounce on Tuesday, and with this being a round number, it also provides a degree of psychological support too. Should this level fail, eyes would turn to the 20-day moving average, which stood at $2,954 as of Tuesday evening. Read More
Gold traders eye $3,150 with PCE and tariffs dictating near-term direction – FX Empire’s Hyerczyk
Gold prices are rangebound following the recent pullback as traders have turned their attention to PCE inflation data and tariff updates for direction on the next move in the gold market, according to analyst James Hyerczyk at FX Empire.
“Gold prices are holding steady at the start of the week, pausing after last week’s sharp two-day pullback,” Hyerczyk wrote. “Monday’s trade remains confined within Friday’s range, signaling indecision as traders await fresh catalysts. The precious metal remains in a broader uptrend, but near-term correction risks persist, especially with key macro data and tariff-related headlines on the horizon.”
The U.S. dollar is supporting gold prices at their current levels, with the dollar index pulling back 0.1% on Monday, adding to its 3.4% decline in March. “A softer dollar typically supports gold by making it more affordable for overseas buyers,” he noted. “This dollar weakness has helped stabilize gold prices following the recent retreat, offering short-term support around the $3,000 level.” Read More
Silver price still eying $40 despite near-term volatility as tariff uncertainty lingers - Saxo Bank’s Ole Hansen
Silver continues to see firm resistance at $34 an ounce; however, one analyst said that the precious metal’s time will come, and it could be later this year.
After hitting another brick wall last week, the silver price remains on the back foot, with prices now testing support at $33 an ounce. The precious metal is struggling as President Donald Trump continues to add to the uncertainty surrounding his proposed global tariffs. According to some reports, Trump is expected to issue more targeted and less sweeping tariffs, which would mitigate the threat of an all-out global trade war.
In an interview with Kitco News, Ole Hansen, Head of Commodity Strategy at Saxo Bank, noted that silver prices have been rallying in part due to growing demand in the U.S., as bullion banks flooded New York vaults amid fears that silver could be hit with U.S. tariffs.
Hansen pointed out that these tariff threats are benefiting gold, copper, silver, and platinum group metals. However, he added that this is very much a risky, binary trade: either the tariffs happen or they don’t.
“This coin flip makes it very difficult to navigate these markets in the short term,” he said. “I expect we will continue to see some price volatility.” Read More
Gold is consolidating but the US dollar and the Fed won’t threaten the rally - State Street’s George Milling-Stanley
Even though the U.S. dollar index has managed to hold critical long-term support above 103 points, this is not a major threat to the gold rally because U.S. interest rates won’t provide much support for the greenback, according to one market strategist.
In an interview with Kitco News, George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, said that he does not expect the Federal Reserve’s current neutral stance to pose much of a threat to gold prices for the rest of the year.
He made the comments after the Federal Reserve held interest rates unchanged last week. In its updated economic projections, the U.S. central bank lowered its growth forecast and increased its inflation outlook. The Federal Reserve expects the U.S. economy to grow by 1.7% this year with inflation rising to 2.7%, compared to previous estimates of 2.1% and 2.5% respectively.
The U.S. dollar is seeing some buying momentum as the Federal Reserve’s interest rate forecast, also known as the dot plot, remained unchanged, signaling two rate cuts this year. Following weak economic data and a sharp selloff in equities, markets have been pricing in three rate cuts this year. Read More
How the EU wants to seize people’s lifetime savings - and the new case for gold
Last week, European Commission President Ursula von der Leyen's announcement of a planned "Savings and Investment Union" caused widespread concern. She stated that the EU aims to mobilize peoples’ savings for urgent investments, such as infrastructure, climate, and defense.
For many savers, this sounds like a threat—an indication that the EU and its member states intend to “redirect” peoples’ savings or, effectively, expropriate them. Unfortunately, this concern is not entirely misplaced. Let’s explore how this could unfold.
Let’s start with some numbers. In January 2025, the deposits held by private customers in Eurozone banks totaled around €23 trillion (excluding bank bonds in this context). Of this, nearly €11 trillion are demand deposits, meaning the "savings pool" the EU is eyeing is close to €13 trillion—an enormous sum, almost equivalent to the GDP of the Eurozone.
How could the EU access this amount? There are three potential ways. Read More
Gold prices holding gains as U.S. durable goods orders rise 0.9% in February
The gold market continues to consolidate in a narrow range above $3,000, paying little attention to better-than-expected manufacturing data following a rise in U.S. durable goods orders.
The Commerce Department announced Thursday that U.S. durable goods orders rose 0.9% last month, following January’s revised increase of 3.3%. The data was far better than expected, as the consensus view of economists called for a 1.1% decline.
Core durable goods, which strip out the volatile transportation sector, also rose more than expected, increasing by 0.7%. Economists had anticipated a 0.2% increase.
The gold market is not paying much attention to the latest economic data as it continues to consolidate. Spot gold last traded at $3,026.60 an ounce, up 0.23% on the day.
According to some economists, the latest economic data will help to relieve some fears that the U.S. economy is headed toward a recession. So far, economic data has provided a mixed picture of the health of the U.S. manufacturing sector. Read More
Bitcoin is more like mortgage-backed securities than gold, and 2008 may be repeating itself – Wharton
While Bitcoin is often compared to gold, crucial differences in their value structures and ownership transparency mean the cryptocurrency carries the same kinds of risks seen in mortgage-backed securities during the 2008 financial crisis, and history may now be repeating itself, according to two academic researchers.
“Bitcoin is now priced at almost a hundred thousand dollars with a total market of almost two trillion dollars,” wrote Wharton’s Rahul Kapoor and Lehigh University’s Natalya Vinokurova. “A common argument promoting investment in Bitcoin compares it to gold — a time-tested store of value and a safe haven for generating significant investment returns.”
“How credible is that analogy, and more importantly, what is the risk that comes with it?”
The authors state that they are well-positioned to answer this question. “One of us has studied the development and adoption of technological innovations for more than two decades; the other has researched the connection between innovation, analogies, and financial crises,” they said.
They begin by characterizing the origins of the great financial crisis of 2008. “Investors accepted the analogy of mortgage-backed securities (MBS) to bonds,” they wrote. “MBS are a class of investments that entitle the investor to a fraction of cash flows of a portfolio of mortgages in the securities’ collateral. While MBS carried risks that were quite different from bonds (such as the systemic risk of a house price correction across the economy), they were rated by the same credit rating agencies as bonds.” Read More
Gold sees mild profit-taking pressure
Gold prices are down a bit in midday U.S. trading Wednesday, on some routine profit taking from the shorter-term futures traders. A firmer U.S. dollar index and an uptick in U.S. Treasury yields at mid-week are negative daily outside-market factors limiting buying interest in gold and silver. Still, a steady stream of safe-haven demand amid a general marketplace that remains skittish is keeping a price floor under the two precious metals. April gold was last down $2.20 at $3,023.70. May silver prices were last up $0.028 at $34.215.
Importantly, the low volatility in the gold market, at elevated levels, suggests prices can continue a steady climb to new highs.
Technically, April gold futures bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,100.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,900.00. First resistance is seen at this week’s high of $3,042.40 and then at $3,050.00. First support is seen at the overnight low of $3,017.80 and then at this week’s low of $3,007.70. Wyckoff's Market Rating: 9.0.
Image Source: Kitco News
May silver futures bulls have the overall near-term technical advantage. Prices are in a choppy, three-month-old uptrend on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at the October 2024 high of $35.80. The next downside price objective for the bears is closing prices below solid support at $32.215. First resistance is seen at $34.56 and then at $35.00. Next support is seen at $34.00 and then at this week’s low of $33.38. Wyckoff's Market Rating: 6.5. Read More
Image Source: Kitco News
U.S. strategy is fueling gold price climb: will gold get caught in the tariff net? Here’s what we know – Joseph Cavatoni
Gold's break above $3,000 an ounce is more than a price milestone. According to Joseph Cavatoni, Senior Market Strategist at the World Gold Council, it's a signal that global investors are repositioning amid rising geopolitical and economic uncertainty.
In an interview with Kitco News, Cavatoni said gold is reasserting its role as a "risk-mitigating asset" in a world fraught with trade tensions, inflation ambiguity, and growing demand for safe-haven hedges.
"The rapid rise in price over the last year has been quite telling," said Cavatoni. "People are gravitating back to gold to manage and mitigate increased levels of risk – whether geopolitical or directly political."
The precious metal has climbed 15% year-to-date, rising from $2,500 to $3,000 in just 210 days – a move that pushed it three standard deviations above its 200-day moving average. While technical analysts have flagged the $3,040 to $3,050 zone as near-term resistance, Cavatoni said underlying demand remains robust. Watch the podcast
Gold's surge to $3,000 spurs Bank of America to raise price target
Gold’s rally above $3,000 has prompted America’s second-largest bank to increase its price target for this year and to solidify its longer-term target.
In their latest commodity report, analysts at Bank of America announced that they expect to see an average gold price of around $3,063 an ounce this year, with prices jumping to $3,350 in 2026, up from the previous average price forecasts of $2,750 an ounce and $2,625 an ounce, respectively.
The analysts also said that they see gold prices rising to $3,500 within two years.
Last month, Bank of America said that the gold market would need to see investment demand rise by 10% to hit $3,500.
“That’s a lot, but not impossible,” the analysts said in the report. “Where could demand come from? China’s insurance industry can invest 1% of its assets in gold, equivalent to around 6% of the annual gold market. Central banks (CB) currently hold about 10% of their reserves in gold and could raise this figure to +30% to make their portfolios more efficient. Finally, retail investors have also been increasing their exposure to the yellow metal, with assets under management at physically backed ETFs increasing by 4% YoY YTD in the Americas, Europe, and Asia.”
Not only have gold prices pushed above $3,000, but growing economic uncertainty and a correction in U.S. equity markets are driving retail investors back into the gold market. Bank of America noted that investment demand in gold-backed exchange-traded funds has grown by 4% so far this year. Read More
‘This is when you need your alternative assets to work for you’ - Bloomberg Index Services
In a sharp turn of fortunes, gold has managed to outperform bitcoin since the start of the year; although the cryptocurrency has struggled in the first three months of the year, it remains an asset of growing importance among investors.
In an interview with Kitco News last month, Jigna Gibb, Head of Commodities & Crypto Index Products at Bloomberg Index Services, said that as inflation continues to eat away at the purchasing power of global currencies, both gold and Bitcoin have become important alternative assets and portfolio diversification tools.
She said in the current environment, rather than competing against one another, they should be working in tandem.
“Inflation has become the big elephant in the room and has become a significant risk. This is when alternatives come into the fray. This is when you need your alternative assets to work for you,” she said.
The comments came after the company announced the launch of the Bloomberg Bitcoin and Gold Equal-Weighted Index (BBIG), and the Bloomberg Dollar, Bitcoin and Gold Equal-Weighted Index (BBUG).
Bloomberg Index Services said in the press release that the Bitcoin and Gold Equal-Weighted Index was developed using a unit-based framework, which allows for future modification and customization of building blocks and weight based on client interest.
“These indices aim to capture Bitcoin's growth, coupled with Gold's historic stability,” they said. “The BBUG Index combines the U.S. Dollar's defensive attributes with Bitcoin and Gold’s potential, long-term uncorrelated characteristics.” Read More
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.
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