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Gold can overcome near-term headwinds
BySirhcSource: UBS CIO Daily Updates by Chief Investment Office08 Jun 20233 min read Thought of the day The price of gold has remained under pressure following the stronger US employment report supporting expectations that the Federal Reserve will “skip” rather than ending hikes at its policy meeting next week. The potential for higher rates over coming months,…
Silver Price Daily Forecast – Silver Failed To Gain Momentum Above $23.00
BySirhcSilver faced resistance at $23.25 and pulled back closer to $22.50. Silver Pulls Back After The Major Upside Move Silver made another attempt to gain momentum above $23.00 but faced resistance at $23.25 and pulled back as the U.S. dollar started to rebound against a broad basket of currencies while gold gained some ground in…
Silver Price Analysis: XAG/USD grinds between 61.8% golden ratio and 10-DMA
BySirhcSource: | 12/19/2022 4:39:21 AM GMT | By Anil Panchal Silver price fades bounce off 10-DMA, grinds lower of late. 61.8% Fibonacci retracement level, impending bear cross on MACD favor sellers. Six-week-old ascending trend line acts as the key support. Silver price (XAG/USD) fade the previous day’s recovery to around $23.25 during early Monday. In doing so, the…
Gold may eclipse dollar as reserve currency after outsize coronavirus spending: Goldman Sachs
BySirhcThe U.S. dollar’s longstanding status as the world’s reserve currency is at risk after the greenback’s weakening by unprecedented government efforts to shore up the economy during the COVID-19 pandemic, according to Goldman Sachs Group Inc. Ballooning federal debt levels and a potential shift in favor of inflation at the Federal Reserve amid increased geopolitical hostilities, domestic unrest and an onslaught of new…
Outlook 2023: Will strong demand outlook lead to a rally in silver?
BySirhcSource: The Economic Times | Markets | By Pawan Nahar Synopsis: Silver, other than being a precious metal, has more usage in the industrial sectors and thus, industrial demand also guides its movement. Furthermore, gold also holds influence over silver prices. Silver witnessed a roller-coaster ride in 2022, thanks to increased volatility in the bullion…
Central bank gold demand hits first-quarter record, investments surge on U.S. banking turmoil
BySirhcPUBLISHED FRI, MAY 5 20237:29 AM EDT Elliot Smith@ELLIOTSMITHCNBC Demand for gold among central banks notched a first-quarter record high in the three months to the end of March as overall global demand painted an otherwise “mixed picture,” according to the World Gold Council. Gold prices broke through the $2,000 per ounce barrier this week and…