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Silver Price News: Silver Clings to $30 An Ounce Mark
Silver prices ticked slightly higher on Tuesday, staging a modest recovery from a bout of weakness seen on Monday.
Prices briefly reclaimed the $30.00 an ounce mark later in the session, after easing to an intraday low of $29.55 an ounce. The moderate recovery came after prices fell on Monday from as high as $30.52 an ounce.
Gold/silver ratio nears 90:
Silver’s price action largely mirrored gold prices on Tuesday, which showed a similar recovery from a dip on Monday.
The gold/silver ratio continues to hover near 90, which is relatively high compared with an average of around 85 over the last three years. Other things being equal, this indicates a potential for gold prices to ease or silver prices to rise, relative to gold, in order to revert to the recent average level for the ratio.
Industrial applications set to drive silver demand:
On the demand side, total global supply of silver was expected to fall by 1% in 2024, while total demand was expected to increase by 2%, according to figures from The Silver Institute: Silver Supply & Demand.
While these numbers paint a bullish ongoing story for silver prices, it is the industrial segment where the real changes are taking place. Industrial demand was set to increase by 9% in 2024 – a figure which included an expected 9% rise in electrical and electronics use of silver, and a mammoth 20% increase in silver consumption in photovoltaics. By contrast, net physical investment in silver was set to fall by 13% in 2024, the institute said. Read More
Gold Price News: Gold Stabilises After Monday’s Losses
Gold prices were largely unchanged on Tuesday as the market stabilised after sustaining moderate losses on Monday.
Prices moved in a range of $2,658 to $2,677 an ounce on Tuesday, after falling from as high as $2,694 an ounce in early trading on Monday.
Gold in wait-and-see mode ahead of fresh signals:
The price action on Monday was characteristic of a market awaiting fresh momentum. Gold’s slight pullback at the start of the week comes in the context of a one-month high of $2,699 an ounce seen on January 10th.
Technical analysis:
The technical charts also help explain gold’s lacklustre performance so far this week. Prices seemingly struggled to break above oblique major resistance at $2,683 an ounce last week, casting a slightly bearish tone to the market. The 10-day Relative Strength Index is not showing any particular direction at 58.7, while prices are currently a short distance above the 20-day moving average at $2,638 an ounce and the 50-day moving average at $2,646 an ounce. Should prices fall further, oblique minor support may come into focus at $2,611 an ounce. Read More
Gold and silver are rising stars of a new financial order – Randy Smallwood
Gold prices are inching back closer to $2,700 an ounce amid a growing shift in monetary strategies, while silver's industrial demand is surging due to its use in green technologies and high-efficiency electronics, Randy Smallwood, CEO of Wheaton Precious Metals, tells Kitco News.
In terms of the gold price movements, the West is yet ot get involved, according to Smallwood. “The West doesn’t control gold anymore,” Smallwood said. “This bull run started in the East—Middle East, Southeast Asia, and Eastern Europe—driven by unprecedented central bank purchases. Western investors have yet to fully wake up to what’s happening here.”
China’s aggressive gold accumulation underscores this shift. The country resumed its gold purchases last year, following a six-month pause, as part of a broader strategy to reduce its dependence on the U.S. dollar. “China isn’t just buying gold for financial reasons,” Smallwood said. “It’s about sovereignty and preparing for a future where the U.S. dollar is no longer the global reserve currency.”
Smallwood also highlighted an unusual market phenomenon: gold maintaining strength alongside a strong U.S. dollar. “It’s highly atypical to see gold perform well in tandem with a strong dollar,” he said. “It speaks to a global loss of faith in fiat currencies. Central banks want assets that are immune to political manipulation, and gold is the ultimate store of value.” Watch the podcast
Gold: governments’ strategic reserve for conflict – Clem Chambers
Geopolitical tensions and economic uncertainty are reshaping financial markets, with governments and investors alike making decisive moves into gold and Bitcoin. Clem Chambers, CEO of Online Blockchain and founder of aNewFN.com, argues these assets are not just financial tools—they are necessities in an increasingly unstable world.
Chambers characterized gold as a critical state asset, essential for nations bracing for potential conflict. “Gold is for war,” he explained. “It’s the financial bullets governments need when conflict escalates.”
Global gold demand reflects this, with the numbers topping 1,300 tons in the third quarter of 2024, according to the World Gold Council. Chambers highlighted China’s aggressive accumulation of gold as a direct response to rising tensions over Taiwan. “China isn’t buying gold to make jewelry or electronics—they’re preparing for a world where conflict is increasingly possible,” he said. Watch the podcast
Middle East peace prospects dampen safe-haven appeal for gold and silver prices – City Index’s Scutt
A potential ceasefire in the Israel-Hamas conflict has added further downside pressure to gold and silver prices, which were already weakening under U.S. dollar strength and high bond yields, according to City Index market analyst David Scutt.
“Gold and silver stumbled out of the blocks this week, with a surging US dollar, elevated bond yields, and renewed hopes for a Middle East peace deal likely contributing to Monday’s sharp falls,” Scutt wrote. “Lopsided short-term positioning after a strong start to the year may have amplified the reversal, especially in silver.”
Scutt noted that both precious metals enjoyed a strong start to 2025 despite the stronger US dollar and rising Treasury yields.
“Historically, such conditions would be toxic for non-yielding assets priced in dollars,” he said. “However, concerns over the US inflation outlook may explain gold’s resilience, with bullion showing a modest correlation (~0.7) with US 10-year inflation breakevens and front-month WTI crude oil futures over the past fortnight. While not a perfect relationship, it’s one worth monitoring given recent inflation-linked unease across markets.” Read More
Sprott makes a pure play in the silver market with a new ETF
One of the world’s leading investment firms in the precious metals sector has taken a special interest in the silver market as demand for the metal continues to outstrip supply, creating a long-term uptrend.
On Wednesday, Sprott Asset Management LP announced the launch of the Sprott Silver Miners & Physical Silver ETF (Nasdaq: SLVR). The company noted that this is the only ETF focused on providing pure-play exposure to silver miners and physical silver.
The Sprott Silver Miners Index is designed to track the performance of a selection of securities in the silver industry, including silver producers, developers, explorers, and physical silver.
“Silver is one of the world’s best-known precious metals, and we believe it’s positioned to perform well in today’s market. In addition, demand for silver is growing in applications ranging from clean technology and solar energy to the automotive and healthcare industries. We believe silver and its miners have significant investment potential, as silver is both a precious metal and an industrial metal critical to new energy,” said John Ciampaglia, CEO of Sprott Asset Management. “With our specialized expertise in precious metals and critical materials, we’re pleased to offer a focused opportunity to invest in silver miners and physical silver through this ETF.” Read More
Gold price hits resistance near $2,700 as U.S. core CPI rises 0.2% in December
Gold prices are once again testing resistance just below $2,700 an ounce as U.S. inflation data supports the Federal Reserve’s easing cycle.
The Consumer Price Index (CPI) rose 0.4% last month after November’s 0.3% increase, the U.S. Bureau of Labor Statistics announced on Wednesday. The inflation data was in line with expectations.
The report noted that, over the last 12 months, headline inflation rose 2.9%, also in line with expectations.
Core CPI, which strips out volatile food and energy prices, increased 0.2% last month, coming in slightly cooler than expected. According to consensus estimates, economists had forecast a 0.3% increase in core consumer prices.
The report stated that annual core inflation rose by 3.2% last month. Core inflation over the past 12 months rose at its slowest pace since August.
The gold market attracted a burst of buying attention, jumping to session highs in an initial reaction to the inflation data. Prices have since fallen from the initial high but remain elevated; spot gold last traded at $2,686.80 an ounce, up 0.36% on the day. Read More
Spot gold spikes above $2,690/oz after New York manufacturing index drops to -12.6 in January
Manufacturing activity in the New York region showed a massive decline this month, defying expectations and falling sharply into contractionary territory, according to the latest figures published by the New York Federal Reserve.
The regional central bank announced on Wednesday that its Empire State manufacturing survey came in at -12.6 in January, after posting a 2.1 print in December. The data was far worse than expectations, as consensus forecasts called for an improvement to 4.5.
“Business activity declined in New York State in January,” the report said. “The headline general business conditions index fell fifteen points to -12.6. New orders fell modestly, and shipments were little changed. Delivery times were slightly longer, and supply availability was unchanged. Inventories grew slightly. Labor market indicators pointed to steady employment levels but a shorter average workweek. Both input and selling price increases picked up.”
Spot gold shot up to a fresh session high of $2,693.46 in the moments after the release, which came out at the same time as the December CPI report. Spot gold last traded at $2,688.30 per ounce, for a gain of 0.40% on the session. Read More
Gold, silver rally after tame U.S. CPI data
Gold and silver prices are solidly higher and not far below daily highs in midday U.S. trading Wednesday. Both metals were up overnight but got a further boost following another U.S. inflation report that came in not too hot. February gold was last up $30.60 at $2,713.10. March silver was up $1.089 at $31.435.
Today’s U.S. data point of the week, the consumer price index for December, saw CPI up 2.9%, year-on-year, right in line with market expectations and compares to up 2.7% in the November report. The core CPI came in a bit lighter than expected, at up 0.2%, month-on-month versus expectations for up 0.3%.
Technically, February gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at the December high of $2,761.30. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the December low of $2,596.70. First resistance is seen at this week’s high of $2,723.80 and then at the January high of $2,735.00. First support is seen at $2,700.00 and then at today’s low of $2,685.40. Wyckoff's Market Rating: 7.0.
Image Source: Kitco News
March silver futures bulls have the slight overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at the January high of $31.84. The next downside price objective for the bears is closing prices below solid support at $30.00. First resistance is seen at $31.845 and then at $32.00. Next support is seen at $31.00 and then at the overnight low of $30.37. Wyckoff's Market Rating: 5.5. Read More
Image Source: Kitco News
Gold price surges following December Consumer Price Index release
Gold prices rallied significantly today following the release of December's Consumer Price Index (CPI) data, with futures gaining $29.50 or 1.10%, as investors digested the latest inflation figures and their implications for the Feds monetary policy.
Image Source: Kitco News
The U.S. Bureau of Labor Statistics reported that inflation rose 0.4% in December, exceeding both November's 0.3% increase and analysts' consensus estimate of 0.3%. The annual inflation rate stood at 2.9% before seasonal adjustments. Core CPI, which excludes volatile food and energy prices, showed a 3.2% annual increase, slightly below the expected 3.3%.
Energy costs played a substantial role in December's inflation reading, rising 2.6% and accounting for over 40% of the monthly increase. Gasoline prices saw a notable jump of 4.4%. Food prices also contributed to the overall increase, with both at-home and restaurant prices rising 0.3%.
"Today's softer-than-expected core CPI reading should help cool fears of a reacceleration in inflation," noted Tina Adatia, head of fixed income client portfolio management at Goldman Sachs Asset Management. "While today's release is likely insufficient to put a January rate cut back on the table, it strengthens the case that the Fed's cutting cycle has not yet run its course." Read More
U.S. tariffs, Chinese rebates, and the rise of short-term options: CME Group’s key developments in 2025 metals markets
Last year was a very eventful one in global metals markets, but 2025 could prove to be a watershed year across the metals complex, with some trends picking up steam while other areas witness unprecedented developments, according to Gregor Spilker and Jon Lynch of CME Group.
The first development is the ushering in of a new era of U.S. trade policy, with President-Elect Donald Trump threatening to implement or increase tariffs on nearly all trade partners exporting goods to the United States, including Mexico, Canada, the European Union, and the BRICS nations.
“The U.S. is a net importer of mineral and metal products, with total imports amounting to $193B compared to $141B exports in 2023,” the authors noted. “Those import figures include over $34B of Steel mill products, $20B of Aluminum products and $14B in Copper products. Top trading partners like Canada (19% of all imports), China and Mexico (11% each) will all potentially be targeted. Traders and market watchers will closely follow the impact of U.S. imposed tariffs and potential reciprocal actions by trading partners on trade flows and metal pricing, with the potential for different tariff regimes to lead to bifurcated pricing between regions and trading partners.”
The second item of interest is the elimination of Chinese export tax rebates on key industrial metals. Read More
'It could unravel fast': Sovereign debt issue is the black swan for 2025, warns WGC's Juan Carlos Artigas
Gold is poised for continued growth in 2025, albeit at a more modest pace than its remarkable performance in 2024, according to Juan Carlos Artigas, Global Head of Research at the World Gold Council (WGC).
Artigas attributed gold's 2024 surge, which saw it hit 40 new record highs, to its dual nature as both an investment asset and a consumer good.
"Gold is a very effective hedge," Artigas told Kitco News, noting that investors have flocked to the metal amidst rising market volatility and geopolitical risks.
Additionally, robust demand from central banks, particularly in Asia, has bolstered the market.
Looking ahead to 2025, Artigas cautioned that predicting the future of the global economy is fraught with uncertainty, particularly given the unknown impact of a second Trump term.
"There's a lot of uncertainty as to what… policies will be implemented…and those have big question marks…for both local and for global investors," Artigas said. "This is where the volatility aspect … would start to put gold more in the forefront of investors' minds." Watch the podcast
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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