Silver awaits major breakout situation! Renowned institutions: if confirming the breakthrough of this support, silver prices are expected to fall by more than 2%
In early European trading on Tuesday, spot silver continued to be under pressure, with silver price currently around $29.50 per ounce. According to Economies.com, if silver price confirms breaking through the resistance of $29.30 per ounce, this will open up further space for silver price to drop.
Debt concerns or support for a bull market in gold, Bank of America predicts that it could reach $3000 within 18 months.
As long as the market is in an environment more prone to inflation, the "preventive" demand for gold seems to continue.
Silver prices have confirmed breaking through the key level! Institutions specializing in silver trade analysis warn that there may be over 3% more room for a significant drop.
At the end of the Asian market on Monday, spot silver basically stabilized after plummeting nearly 4% on the previous trading day, and the silver price is now around $29.60 per ounce. According to Economies.com, the silver price has confirmed breaking through the key level of $30.06 per ounce, paving the way for further decline in silver prices.
Delivery concerns reoccur! The near-month copper price differential is once again on the rise.
Summary: The COMEX copper price curve has shifted downwards from before, and the curve has further converged in the near term, but the monthly difference in the near term has risen again. Currently, there are only two weeks left before the delivery of the July contract, but there is still no sign of delivery, and the holding position of the July contract is still relatively high. In addition, the continuous depletion of COMEX copper inventory is currently less than 10,000 tons, so the near-term price difference has widened again, reflecting the market's concern about the upcoming delivery. The next two weeks will be critical. Key insights: 1. Last week, precious metals and copper prices fluctuated.
The most profitable year in commodity history! Analysts believe that silver will rise strongly and copper will have a strong start. The pullback should be viewed as a buying opportunity.
Analysts say that 2024 will go down in history as one of the most profitable years ever for csi commodity equity index traders, and this could just be the beginning.
"Silver goes crazy"! Silver price skyrocketed by more than 3%, significant breakthrough in technical analysis. What's next?
On Thursday, spot silver rose sharply by more than 3%, closing near $30.70 per ounce. FXStreet analyst Christian Borjon Valencia pointed out that despite the rise in US Treasury yields and the strengthening of the US dollar, silver prices rose more than 3% on Thursday. The technical outlook shows a bullish tendency, with momentum favoring buyers.
Gold, silver, and platinum forecast - Metals demand continues to grow, and gold prices will exceed $2350.
The gold price has successfully climbed above the 50-day moving average to $2,343; as the gold/silver ratio falls to 76.50, silver prices rise above $30.50; platinum continues to try to break through the recent resistance level of $975-$985.
Silver experiences sudden big moves! The price of silver rises sharply and approaches a key level. The FXStreet analyst's latest technical analysis on silver.
At the early trading session in Asia on Thursday, spot silver suddenly rose significantly in the short term, and the silver price is approaching the $30/ounce mark. FXStreet analyst Christian Borjon Valencia pointed out that the current target for silver is to break through the $30/ounce mark, then aim for key resistances at $30.25/ounce and $31.54/ounce.
Gold, silver, and platinum forecast - the market lacks catalysts, gold's trend is flat, silver has significant growth, and platinum continues to rebound.
Traders are waiting for a catalyst, with gold closing around $2,330; as the gold/silver ratio falls below 78.50, silver prices are moving towards the $30.00 level; platinum continues to attempt to break through resistance levels of $975-$985.
Shengbao banks predict that gold and silver will go through long-term consolidation but prices will ultimately rise.
Despite gold and silver hovering at high levels, Ole Hansen, the head of commodity strategy at Saxo Bank, remains bullish on the long-term trend of metals.
Global central banks are keen on buying gold! The willingness to increase holdings has reached a five-year high, Goldman Sachs is bullish on the gold price reaching $2,700.
According to the survey results, Central banks of various countries increased their gold reserves by 1,037 tons in 2023, the second highest annual purchase volume in history. Previously, the record was set in 2022, which purchased 1,082 tons of gold.
Gold, silver, and platinum forecast - with the decline in government bond yields, metals rebound.
The gold price continues to consolidate above the support level of 2295-2305 US dollars; silver is attempting to break through the level of 29.50 US dollars. Platinum is testing the resistance level at 975-985 US dollars.
Express News | Gold is the best tool to hedge against inflation risks related to the US elections, according to Goldman Sachs analysts.
Silver's 'hard times' are not over yet! Well-known institutions' analysis on silver trading: Silver prices may still have a large space for correction.
On Tuesday, June 18th, during the Asian session’s closing, the spot silver maintained its intraday decline, and the silver price is currently around $29.35 per ounce.
Is there still nearly 20% room for silver prices to rise? Bank of America: The rise of silver has just begun.
Bank of America metals strategist Michael Widmer predicts that the price of silver will rise to $35 per ounce within the next two years. Recent market volatility has caused the price of silver to fall below $30 per ounce, but Bank of America believes that silver's performance is just beginning. However, Bank of America also pointed out that if the price of silver is to truly take off, investment demand must rebound.
Federal Reserve officials have once again shown a hawkish stance! Silver prices briefly fell to the first support level. What will happen next?
24K99 News on Monday, June 17th, despite the weakening of the US dollar, the spot silver price still suffered a blow, once approaching the important level of $29.00 per ounce. FXStreet analyst Christian Borjon Valencia wrote a new article analyzing the technical outlook for silver.
Insider Sale: Vice President Grant Brackebusch Sells Shares of Idaho Strategic Resources Inc (IDR)
Idaho Strategic Resources(IDR.US) Officer Sells US$129.92K in Common Stock
$Idaho Strategic Resources(IDR.US)$ Officer BRACKEBUSCH GRANT A sold 12,967 shares of common stock on Jun 13, 14, 2024 at an average price of $10.02 for a total value of $129.92K.Source: Announcement
Heraeus precious metals analysis: facing the hawkish Fed, gold remains strong, silver urgently searches for resistance.
Heraeus metals strategy analyst 24K99 News said that under the influence of the Fed's tough rhetoric and interest rate forecasts, the performance of gold is quite good, and with the spot price testing the resistance, there is a clear difference in the demand for silver coins among major producers.
Silver price is approaching the target price after a sharp drop! Silver has not passed the "dangerous period" according to the latest silver trade analysis from well-known institutions.
On Friday (June 14th), during the Asian market's final trading session, spot silver maintained a moderate rebound during the day, and the silver price is currently slightly below the $29.00 per ounce level.