Gold may face continued pressure due to a stronger dollar and higher bond yields, despite support from global ETF inflows and expectations of Federal Reserve rate cuts, analysts suggest. Conversely, silver prices could reach Rs 1 lakh per kilogram this year. The outlook for other base metals remains muted due to an oversupply situation. Last...
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Spot silver prices experienced a significant decline on Tuesday, dropping more than 2% and falling below the $29.00 per ounce mark. FXStreet analyst Christian Borjon Valencia provided a technical analysis of the silver price trend in his latest article. Valencia attributes the drop to hawkish comments from Federal Reserve Governor Michelle Bowman, which caused silver...
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KGHM, a major player in the mining industry, released its preliminary production and sales results for May, showing a mixed performance across various metals. The production of payable silver stood at 119.1 tonnes, marking a 4% decrease from the same period last year, which translates to a reduction of 4.7 tonnes. Silver sales saw a...
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Despite the dollar’s weakness, spot silver prices faced a decline on Monday, approaching the crucial $29.00 per ounce mark. According to FXStreet analyst Christian Borjon Valencia, the technical outlook for silver indicates further potential weakness. Valencia notes that the rise in US Treasury yields, driven by hawkish comments from Fed officials, has exerted downward pressure...
READ MOREOn Thursday, spot silver prices tumbled, losing the $29.00 per ounce mark due to pressure from a surging dollar. FXStreet analyst Christian Borjon Valencia provided a technical analysis of the silver price trend on Friday. Valencia noted that silver prices have fallen sharply over the past six days, losing more than 7%. On Thursday, silver...
READ MOREEmerita Resources has provided an update on the metallurgical testing program for its wholly-owned Iberian Belt West (IBW) Project. Conducted in collaboration with Wardell Armstrong International and SRK Consulting, Phase I of the program aimed to demonstrate the production of commercial-grade concentrates from the La Romanera and La Infanta deposits, which are part of the...
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Oracle Power has exercised its option to acquire 100% of the Blue Rock Valley Copper and Silver Project in Western Australia, following the completion of due diligence. The acquisition, valued at GBP 200,000, is subject to Western Australian government approval. Located in the Ashburton Basin, 165km southeast of Onslow, Blue Rock boasts high-grade copper and...
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Spot silver prices tumbled by more than 4% on Tuesday, June 4, closing at $29.468 per ounce. This decline, highlighted by FXStreet analyst Christian Borjon Valencia, came as traders took profits and silver fell below key support levels, confirming a “double top” pattern. The target for this pattern is $27.80 per ounce. Valencia pointed out...
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The metallic minerals sector in the Philippines experienced a slow start in the first quarter of 2024, with production value down 12.76 percent compared to the same period last year. The Department of Environment and Natural Resources (DENR) reported that the value of domestic metallic mineral production fell to P51.81 billion (approximately $880.77 million) from...
READ MORESpot silver prices plunged by 2.5% on Thursday, nearing the $31.00 per ounce mark. FXStreet analyst Christian Borjon Valencia analyzed the technical outlook for silver, noting the sharp decline despite falling US Treasury yields. On Thursday, spot silver closed down 2.51% at $31.15 per ounce, while the yield on the 10-year U.S. Treasury note fell...
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