Spot gold prices are lower and spot silver prices are sharply lower after the close Thursday, as firmer Treasury yields and a stronger dollar offset safe-haven demand tied to renewed Strait of Hormuz tension. At the time of writing, spot gold was trading near $4,650.30 an ounce, down 0.80%, while spot silver was trading at $83.360, down 4.58% on the session.
Spot gold prices were lower and spot silver prices were firmer in late U.S. trading Wednesday, as a hot U.S. producer-price print, a firmer dollar and Treasury yields near the 4.5% area offset safe-haven demand tied to the U.S.-Iran conflict and the Strait of Hormuz crisis. At the time of writing, spot gold was trading near $4,687.20 an ounce, down 0.58%, while spot silver was trading at $87.660, up 1.09% on the session.
Weaker investment demand, softer industrial consumption, and higher mine supply will lower the supply deficit dramatically, which diminishes silver’s potential upside across multiple time horizons, according to the latest silver forecast from strategists at UBS.
Spot gold prices were modestly lower and spot silver prices were firmer late Tuesday as hotter U.S. inflation, higher Treasury yields and a stronger dollar weighed against residual haven demand tied to Middle East supply risk. At the time of writing, spot gold was trading near $4,714.40 an ounce, down 0.42%, while spot silver was trading at $86.440, up 0.54% on the session.
A perfect storm is once again brewing in the silver market as persistent industrial demand continues to outpace supply, potentially driving prices back to a key resistance point.
Spot silver surged and spot gold firmed late Monday as traders balanced last week’s U.S. labor-market data against higher oil prices, firmer Treasury yields and Tuesday’s April CPI release. At the time of writing, spot gold was trading near $4,736.60 an ounce, up 0.49% on the session, while spot silver was trading near $85.990, up 7.20%.
Gold futures extended their recent winning streak Monday, posting a fourth higher close in five sessions. The contract settled at $4,745 per ounce, up $21.90, or 0.48%, on the day, a solid if measured advance that nonetheless understated the session’s drama.
Despite the ongoing threat to the global economy posed by the war in Iran, the silver market is attracting renewed investor attention as prices push back above $80 an ounce, with growing expectations that $90 is around the corner.
Spot gold prices are weaker and spot silver prices are sharply lower in early U.S. trading Tuesday, as a firmer U.S. dollar, higher Treasury yields and another jump in crude oil weighed against safe-haven demand tied to the U.S.-Iran conflict. At the time of writing, spot gold was trading near $4,693.10 an ounce, down 0.87%, while spot silver was trading at $83.450, down 2.94% on the session.
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