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Growing solar power sector to drive silver demand for the next decade - Heraeus
The growing demand for solar power is generating a bright future for silver as governments worldwide continue to look to develop green renewable energy, according to one European precious metals firm.
In a report published Monday, Analysts at Heraeus said that they are bullish on silver and see significant long-term potential. The comments come as silver prices manage to hold above $24 an ounce. December silver futures last traded at $24.290 an ounce, down 1% on the day.
“With solar PV energy identified as a critical technology in meeting long-term goals to curb global warming, there is considerable upside for the silver market over the next decade,” the analysts said. Read More
Gold firmer, hits 2-mo. high, as U.S. inflation report not tame
Gold prices are modestly higher and hit another two-month high in midday dealings Tuesday. The yellow metal bulls are touting a U.S. inflation report that did not tamp down worries about rising prices. December gold was last up $3.80 at $1,831.70 and December Comex silver was last down $0.257 at $24.29 an ounce. Read More
Fed's Kashkari: Keeping an 'open mind' on timing of rate hikes
Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday said he expects more clarity on the economic outlook by the time the Fed ends its bond-buying program in mid-2022 and is keeping an "open mind" on the timing of any rate hikes to follow.
"I have not made any decisions about where my stance is on that," Kashkari said at an event at University of Wisconsin-Eau Claire. Kashkari had previously said he believes the Fed likely ought to wait until 2024 before raising rates from their current near-zero level.
The forces that are currently keeping people out of the labor market and pushing up prices will likely prove to be temporary, and will fade as COVID-19 turns from being pandemic to being endemic, he said. Read More
Metals prices set for 'historically above-average prices through to 2025' – S&P Global Market Intelligence
With inflation fears and supply chain concerns, the metals price outlook remains very positive looking towards 2025, according to S&P Global Market Intelligence.
Key drivers for this decade will be strong demand stemming from the electronic vehicles energy transition.
"The metals sector is set to continue its rebound from the effects of the COVID-19 pandemic through 2022. Pent-up consumer spending, government stimulus efforts and the accelerating energy transition will continue to drive demand, prices and exploration budgets," S&P Global Market Intelligence said in its 2022 Metals and Mining Outlook.
Demand for the global metals sector may ease next year as some supply chain issues resolve, but the outlook beyond this remains very positive. Read More
By 2024, gold price will double, silver will more than triple, here’s why – Patrick Karim
Gold and silver are both headed much higher if prices continue to follow a 7-year arc pattern, said Patrick Karim of Northstar & Badcharts.
Should the arc hold, gold should be trading at 250% higher than its 2017 level, translating to $4,200 an ounce by 2024, Karim told David Lin, anchor for Kitco News. Read More
Could gold be posed for a breakout? Tomorrow’s CPI numbers will be a huge component of the answer to that question
With the recent rise in inflationary pressures, and the consumer price index numbers being reported for October tomorrow Federal Reserve members have differences in regards to interest rate hikes next year.
In the dovish camp is Federal Reserve Chairman Jerome Powell, and Federal Reserve Vice Chairman Richard Clarida who both spoke on Monday repeating that lift-off or the onset of interest rate normalization will not commence until 2023, or the fourth quarter of 2022. In the hawkish camp, the St. Louis Federal Reserve President James Bullard spoke to FOX Business yesterday in which he said that he expects that the central bank most likely will have two rate hikes penciled in for 2022. Read More
Gold and silver are mixed heading into the European open
Gold is trading lower heading into the European open. The price of the yellow metal has fallen -0.36% to reach $1825/oz. Silver is trading flat at $24.29/oz. In the rest of the commodities complex, copper is 0.39% higher and spot WTI has dropped a quarter of a percent. Read More
Credit Suisse plot a few scenarios for the gold price
Analysts at Credit Suisse have been analyzing the gold market for a potential direction. The team has put together a few scenarios in the bank's latest research note.
The bank said "Gold remains slightly below $1834/36 but has improved in the short-term as Real Yields fall. Still, the yellow metal needs to surpass this region to sustain a deeper recovery." Read More
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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.
