Silver Price

With economists at odds with whether the Chinese stimulus package can result in dollar inflation, it could be that China’s move is a shot at the U.S. economy

Weekly data release shows commercial traders adding short positions while speculators continue to go long on gold.

Gold and silver hover around $2,570 and $30.60 as markets anticipate a 25 bps Fed rate cut, impacting both precious metals amid geopolitical tensions.

Given that production costs typically follow spot price, could silver be in for a rally based on a steady increase in costs?

In understanding what's happening in the gold and silver markets, it's helpful to think about the reasons why investors around the globe continue to purchase precious metals.

With US confidence at 103.3, the dollar briefly surged but has since dipped, lifting gold while silver remains steady near $30.

Gold and silver are gaining momentum, with gold near $2,515.83 and silver at $30.02, both approaching critical resistance levels that could trigger further gains.

Silver is surging as India’s insatiable demand rockets prices toward the critical $30 threshold, setting the stage for a potential breakout.

Analysis of the silver market highlights why the $27.59 per ounce level is critical for understanding its future direction in 2024.