Silver Price Analysis: Silver Probably Rising in C Leg of Measured Move
Silver (XAG/USD) has decisively broken out of the descending channel it was in during the second half of May and June.
The People's Bank of China has suspended gold purchases for two consecutive months, and the spot gold price still reached a high of $2390 per ounce. With the failure of the "barometer", how will the gold price go?
On July 7th, the updated official reserve assets by the State Administration of Foreign Exchange showed that China's official gold reserves in June 2024 remained unchanged at 72.8 million ounces, indicating that the People's Bank of China had paused gold purchases for two consecutive months. Overall, there has not been a significant decline in the investment force in the gold market recently. There are two main risks for gold: one is the Federal Reserve policy risk and the other is the failure of central bank gold purchases to meet expectations.
Express News | China Securities Co., Ltd.: The expected number of interest rate cuts in the United States within the year has been revised to 2 times, which is conducive to pushing up the prices of metals.
Huaxi Securities: Gold is currently in a long upward cycle and if the price falls in the future, it is expected to drive central banks around the world to purchase gold again.
According to a strategy research report from Huaxi Securities, in the long term, gold is in a large upward cycle. Firstly, in recent years, the scale of US debt has been expanding at an accelerated pace, and the pressure of interest payment continues to rise. After the conflict between Russia and Ukraine, the United States imposed financial sanctions on Russia, which has impacted the credibility of the US dollar. Due to concerns about the risk of US dollar credit and US dollar assets, central banks worldwide continue to increase their gold reserves.
The central bank continues to suspend shareholding of gold!
On July 7th, the official reserve assets updated by the State Administration of Foreign Exchange showed that in June 2024, China's official gold reserve was 72.8 million ounces, unchanged from the previous month, and has suspended the shareholding of gold reserves for two consecutive months.
Weekly Outlook: Powell is about to brave Capitol Hill! Will gold hit new highs and be unstoppable?
Powell is expected to "release doves" this week! Will CPI data bring good news to the market? Gold is expected to hit a new historical high again, and the US dollar may face a major risk...
Weekly Review: European stock market fluctuated during the 'Election Week', while Wall Street ignored the election and hit record highs. Cryptos plummeted, but gold benefited greatly.
In a week of sustained market volatility globally, Wall Street has ignored the uncertainty brought by political elections and has been the sole performer in the stock market, continuously setting historical new highs. Economic data, instead of meeting expectations, has strengthened investors' optimistic expectations for a rate cut by the Federal Reserve, which has fueled the rise of the stock market.
U.S. stocks closed with the expectation of interest rate cuts boosted by non-farm payrolls, with the S&P and Nasdaq hitting new highs! Tesla rose nearly 38% in eight days, while Nvidia cooled off.
In June, non-farm payroll employment in the USA fell sharply, with significant downward revisions to previous data, and the unexpected rise in unemployment rate highlighted a cooling labor market, leading the market to bet over 70% on rate cuts in September and December.
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Following US Jobs Data.
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Following US Jobs Data.
Express News | Analyst: Non-farm data below expectations could push gold price to break through the 2400 level.
Will Non-farm Payrolls Become the Judge of Life and Death? The Gold and Silver Trends Have Reached a Critical Juncture!
Analysts expect that the upward trend is more likely for gold and silver, but they would prefer to see a significant pullback after the non-farm payroll report. Why?
Facing Non-Farm Payrolls: the first heavy data of trade in the second half of the year!
Why does the Non-Farm Payroll data tonight once again affect the nerves of global financial markets and traders?
Gold Pushes Higher as Investors Expect Fed Will Start to Ease
Gold headed for a back-to-back weekly gain on expectations that the Federal Reserve will trim interest rates before year-end, with traders looking ahead to US payrolls data for the next batch of clues on the outlook.
Bullish market consensus! Could non-farm night gold price break $2400?
If inflation and employment data both soften, it will trigger a bigger debate about whether the data is rebalancing or beginning to deteriorate.
Continued expectations for interest rate cuts are fueling multiple bullish factors for gold prices! How to earn "steady happiness" through etf?
Under the dovish remarks of Fed Chairman Powell and a series of bullish economic data, yesterday's gold futures price rose back to $2360, while analysts pointed out that the 'Trump trade' would drive global investors to turn to gold. And in Citigroup's view, next year's gold price is expected to break through the $3000 mark.
Express News | Economists predict that the price of gold will break through the $2400 mark in the near future.
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Amid a Drop in the Dollar Following Key US Economic Data.
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Amid a Drop in the Dollar Following Key US Economic Data.
Sibanye-Stillwater Price Target Cut to $6.00/Share From $7.00 by JP Morgan
Sibanye-Stillwater Price Target Cut to $6.00/Share From $7.00 by JP Morgan
JP Morgan Maintains Neutral on Sibanye Stillwater, Lowers Price Target to $6
JP Morgan analyst Dominic O'Kane maintains Sibanye Stillwater (NYSE:SBSW) with a Neutral and lowers the price target from $7 to $6.
Sibanye Stillwater Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 07/03/2024 36.05% JP Morgan $7 → $6 Maintains Neutral 03/01/2024 13.38% RBC Capital $6 → $5 Maintains Sect