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Silver Price News: Silver Prices Rise As Gold Tests Highs
Silver prices edged higher on Friday to post modest week-on-week gains, as gold prices rose to test their October 2024 highs.
Prices rose as high as $31.20 an ounce on Friday, up from around $30.54 an ounce in late trades on Thursday.
Silver’s action saw the white metal post gains of 1.1% over the week as a whole, albeit with prices still holding well within the range of $28.80 to $34.60 an ounce seen over the last three months.
Weak dollar supports gold & silver:
The US dollar fell against other major currencies through the week, and this continued on Thursday and Friday after US President Donald Trump called for lower interest rates around the world, in a virtual speech at the World Economic Forum in Davos. A weaker dollar tends to push precious metals prices higher as it makes them cheaper for buyers in other currencies.
Silver’s modest gains on Friday came in the context of rising gold prices, which on Friday came within striking distance of their October 2024 all-time highs of over $2,790 an ounce. Read More
Gold Price News: Gold Nears All-Time Highs
Gold prices added further gains on Friday, coming close to their all-time highs seen in October last year, as comments by the US President put the dollar under pressure.
Gold prices rose as high as $2,786 an ounce on Friday, up from around $2,755 an ounce in late trades on Thursday. That was the highest price since gold’s all-time high of $2,792 an ounce, seen in late October 2024.
Tariffs talk gives way to signals of lower interest rates:
US President Donald Trump was quoted as calling for lower interest rates around the world, speaking in a virtual address to the World Economic Forum in Davos, Switzerland, on Thursday. If borne out, lower interest rates would tend to support non-interest-bearing assets like gold.
In addition, the chat over possible US trade tariffs ebbed last week, contributing to weakness in the US dollar, with the currency falling against other major currencies. This in turn pushed dollar-denominated gold prices higher through the week. Read More
Gold Prices Retreat as Markets Await Federal Reserve Decision
Gold prices experienced a significant decline today, dropping more than 1.3% as investors shifted their focus to the Federal Reserve's first policy meeting of 2024. February gold futures fell by $36.30 to settle at $2,741.10, marking a notable pullback from recent highs.
Image Source: Kitco News
The precious metal's decline comes amid a broader market recalibration, as investors moved capital from safe-haven assets into fixed income instruments and defensive equity positions. The sell-off was partially triggered by increased interest in Chinese AI startup DeepSeek, reflecting a broader risk-appetite shift in global markets.
"This sell-off is very much driven by the broad equity market rather than just the normal interest rates or currency dynamics," explained Bart Melek, head of commodity strategies at TD Securities. “We're seeing a bit of a liquidity crunch.”
The market turbulence has created ripple effects across various asset classes, with U.S. Treasury yields dropping to three-week lows and the dollar index touching its lowest level since December 18. Despite the current downward pressure, analysts remain optimistic about gold's long-term prospects. Read More
Supermajority of Wall Street and Main Street see gold challenging all-time highs next week with central bank decisions on deck
The gold market enjoyed one of its strongest and steadiest performances in months this week as markets digested the daily shocks and uncertainties provoked by the new U.S. administration.
Spot gold kicked off the week trading above the $2,700-per-ounce level, but it saw a brief sell-off to test resistance at $2,690 by 8:00 p.m. Eastern Sunday evening. This proved to be the weekly low, however, as the yellow metal never sniffed the $2,600s again.
Monday's trading was relatively stable, with gold prices trending in a narrow range between $2,704 and $2,712 per ounce through President Donald Trump's inauguration and initial flurry of executive orders. Of course, Monday was also a federal holiday in the United States, which kept a lid on some of the potential market volatility.
After a final retest of $2,704 shortly after 7:45 p.m. Eastern, gold saw its first sharp increase of the week, gaining over $20 by 9:30 p.m., and topping out just shy of $2,732 per ounce by 2:30 a.m. Tuesday morning.
By the time of the North American market open on Tuesday, gold was already within a dollar of the weekly high, and when American traders joined the fray, they immediately pushed the yellow metal to fresh highs above $2,745 per ounce by noon Eastern. Before midnight, spot gold had broken through $2,750 per ounce, and by 5:15 a.m. on Wednesday, the yellow metal had marked a double-top above $2,762, a level which would serve as the weekly high for the following two days. Read More
Gold is doing its job; prices are down but it still beating the S&P 500
Although gold was caught in the broad selling frenzy on Monday, the precious metal is still doing what it is supposed to do, as it has lost less ground than the S&P 500 and the Nasdaq.
Ahead of the North American open, S&P 500 futures were down more than 2%, and Nasdaq futures were down nearly 4%. Despite the selling pressure, gold has managed to hold initial support above $2,750 an ounce.
As of 8:58, February gold futures last traded at $2,760.10 an ounce, down 0.68% on the day. At the same time, the S&P 500 last traded at 5,997 points, down 136 points or more than 2% on the day.
According to equity analysts, markets have taken a hit after China announced the release of a cheaper artificial intelligence model, which could challenge the supremacy of U.S. technology.
China’s DeepSeek said that it has developed AI models nearly on par with American rivals, despite using inferior chips and less data. Investors are now questioning the lofty valuations of AI-related stocks and Silicon Valley’s business model, which relies on significant capital for research and development. In another blow to U.S. AI stocks, DeepSeek’s AI Assistant surpassed ChatGPT to become the highest-rated free application on the U.S. Apple App Store.
With equity markets so deep in the red, some analysts have said that it’s not surprising gold has also been dragged lower. Read More
Gold price under pressure but ignores U.S. New Home Sales rising 3.6% in December
The gold market continues to follow broader market flows and is paying little attention to data showing that the U.S. housing market continues to stabilize.
New home sales increased by 3.6% last month, coming in at a seasonally adjusted annualized rate of 698,000 homes, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said on Monday.
The sales data was stronger than expected, as economists had projected a rate of 669,000 units.
For the year, new home sales have increased by 6.7%, the report said.
The gold market is largely ignoring the positive economic data, as investors continue to react to the broad equity market selloff. Gold has been caught in a liquidity trap as investors “sell everything.” Spot gold last traded at $2,743 an ounce, down 1% on the day. Read More
Gold needs gains to maintain investor interest, silver price strength is hurting coin sales – Heraeus
Investors appear interested in gold only if the price is rising, while consistently high silver prices are actually depressing physical demand, according to precious metals analysts at Heraeus.
In their latest precious metals update, the analysts noted that investors’ interest in gold appears to be contingent on the yellow metal’s price gains.
“Following a record high gold price of $2,790/oz on 30 October 2024, total gold ETF holdings saw two months of net outflows that reduced holdings to just below 83 moz as investors took profits,” they wrote. “In Q4’24, ETF holdings mirrored movements in the gold price; this strong link continued into the new year as the gold price has risen steadily. Since the start of January, total gold ETF holdings have seen net inflows exceeding 450 koz. However, a drop in holdings of 250 koz last week coincided with the gold price testing resistance at $2,720/oz, before the breakout.”
“On Tuesday last week, gold broke through this key resistance level of $2,720/oz, established in Q4’24,” the analysts said. “Having breached the previous resistance, the next target for gold is the previous all-time high of $2,790/oz, which lies just 1% above the recent peak. If the gold price continues to rise, ETF holdings could continue to see inflows.”
The disruption of physical gold stocks under threat of U.S. tariffs is also ongoing, with COMEX gold inventories Gold continuing to swell. “Gold and silver exchange for physical (EFP) premia remain high, fuelling the ongoing surge in gold shipments into COMEX inventories from other jurisdictions at an unprecedented pace,” Heraeus analysts wrote. Read More
Gold, silver prices pounded as U.S. stock market takes hard hit
Gold and silver prices are sharply lower in midday U.S. trading Monday, amid a major U.S. stock market sell off that has traders and investors spooked. Many traders in the general marketplace are exhibiting a mentality of, “if you can’t sell what you want, you sell what you can.” This keener uncertainty in the marketplace to start the trading week is not yet finding safe-haven demand for gold and silver. However, don’t be surprised to see some safe-haven buying surface in the two precious metals if the stock market sell off extends into Tuesday. The U.S. Treasury market is already seeing some safe-haven demand today. Some profit taking from the shorter-term futures traders is also seen in the gold market, after recent good gains. February gold was last down $40.70 at $2,738.70. March silver was down $0.815 at $30.37.
Over the weekend, traders and investors learned that China is seriously challenging U.S. leadership in the development of artificial intelligence. A small and relatively new Chinese company called DeepSeek has apparently produced a large language model that rivals many of the leading U.S. models--at a fraction of the cost of U.S. models. DeepSeek’s AI assistant is now the top-rated free application on Apple's app store. The news led to a sharp sell off across global technology stocks.
Technically, February gold futures bulls still have the firm overall near-term technical advantage. Prices are still trending up on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at the contract high of $2,826.30. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,650.00. First resistance is seen at $2,750.00 and then at the overnight high of $2,778.10. First support is seen at today’s low of $2,732.00 and then at $2,715.00. Wyckoff's Market Rating: 7.0.
Image Source: Kitco News
March silver futures bulls have lost their slight overall near-term technical advantage. A price uptrend on the daily bar chart has been negated. Silver bulls' next upside price objective is closing prices above solid technical resistance at $32.00. The next downside price objective for the bears is closing prices below solid support at the December low of $29.145. First resistance is seen at $31.00 and then at $31.50. Next support is seen at $30.00and then at $29.50. Wyckoff's Market Rating: 5.0. Read More
Image Source: Kitco News
A game-changing global market shift coming for gold in 2026 – Frank Giustra
There is a major global shift coming to the gold market, and it will help lift prices higher, according to Frank Giustra, CEO of the Fiore Group.
Giustra spoke to Kitco Senior Mining Editor and Anchor Paul Harris on the sidelines of the Future Minerals Forum about how fractional, blockchain-based gold could attract the TikTok Generation, transform gold prices, and revolutionize the future of precious metals.
“I had a recent conversation with David Tate, the president of the World Gold Council,” Giustra said. “They've been at it for five years – working with the 20 biggest bullion banks. What they're projecting now is that 2025 will be the year of laying the infrastructure because it's all going to be connected through fiber optics. And then it will be launched in 2026 as digital gold.”
This digital form of gold will be divisible and immediately transferable, making it more accessible to tech-savvy investors.
In order to bring in the younger generation into the gold market, you have to make it technologically convenient, Giustra noted. On top of that, the impact of commercial banks getting involved will be significant. Watch the podcast
Gold price could hit $3,290, silver $43.50, but lower upside for platinum and palladium – LBMA 2025 Survey
Precious metals prices could be in for another standout year, with gold expected to reach a potential high of $3,290 per ounce in 2025, while silver prices could top $43.50, while the outlook for platinum group metals (PGM) appears more constrained, according to the results of the 2025 LBMA Annual Precious Metals Forecast Survey.
“This year’s forecast has seen bullish price forecasts submitted by analysts, who collectively expect gold to outperform 2024 with an average price of $2,736.69 – 14.7% higher than the average price for 2024 ($2,386.20), and just $51 lower than the record gold price for 2024 ($2,788.54 – AM auction, October 30),” the report noted. “A wide forecast trading range, however, indicates analysts are expecting significant price volatility. Furthermore, no analyst has forecast an average price above $3,000, but 20 analysts see a high price of $3,000 or above.”
Forecasts for this year’s LBMA survey were submitted by participating analysts before the close of business on January 13, 2025, giving the 30 analysts the opportunity to observe eight days of trading before sharing their predictions.
“Gold is forecast to trade between $2,250.00 (the lowest low) and $3,290.00 (the highest high) this year,” the LBMA said. “This trading range of $1,040.00 is significantly larger than the 2024 range forecast of around $624, suggesting some price volatility is expected this year.” Read More
Banks are 'big casinos': When the system implodes, it'll take everything with it – Lynette Zang
While attention is on the Federal Reserve pausing its rate-cutting cycle this week, financial analyst Lynette Zang, CEO of Zang Enterprises, is warning of a looming hyperinflationary depression, pointing to systemic issues within the global financial system.
Speaking at the Vancouver Resource Investment Conference, Zang highlighted the unsustainable nature of current debt levels and the potential for a major economic reset. "We're at the end of a currency's life cycle," she told Kitco News.
Consumer-driven economies are struggling because incomes are not keeping pace with the cost of living, forcing people to rely on credit cards, Zang explained.
With credit card delinquencies rising, it indicates that "those credit cards have been maxed out," and consumers cannot take on more debt. This is not just an issue for individuals but also for governments and corporations, though "individuals just have fewer choices than governments." Watch the podcast
Live From The Vault - Episode 207. Silver Breaks Free of COMEX Shackles
In this week’s Live from the Vault, Andrew Maguire examines the widening disconnect between synthetic and physical gold and silver markets, highlighting spiking lease rates and the move towards Basel III-compliant bullion.
Drawing on historical precedents and emerging arbitrage opportunities driven by tightening physical silver supplies, Andrew reveals the structural shift towards physical price revaluation and the growing demand for safe haven metals.
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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