On Wednesday, July 17th, spot silver experienced a significant decline, falling by 3% despite the dollar’s weakness. According to FXStreet analyst Christian Borjon Valencia, the drop was driven by profit-taking, pushing silver prices below $31.00 per ounce. Spot silver closed at $30.29 per ounce, marking a 3.01% decrease, with prices reaching a session low of $30.03 per ounce. Valencia’s analysis...
Silver news
Silver Prices Surge Over 2% Following Weak U.S. CPI Data
Spot silver prices jumped by more than 2% due to weak U.S. Consumer Price Index (CPI) data, triggering a sell-off of the U.S. dollar. FXStreet analyst Christian Borjon Valencia has analyzed the technical trends of silver prices in a new article released on Friday. Valencia noted that silver prices exhibited a ‘double-bottom’ pattern. The weaker-than-expected inflation data from the U.S....
Copper, Silver, and Gold Markets Brace for Supply Deficits Amid Rising Demand
New copper projects are set to bring additional production to the market over the next decade, but supply growth is likely to lag behind demand due to the green-energy transition, according to BMI, a unit of Fitch Solutions. Projects in Congo and Chile are expected to boost copper production from an estimated 27.8 million metric tons to 29.6 million tons...
Endeavour Silver Reports Q2 2024 Production of 2.2 Million Silver Equivalent Ounces
Endeavour Silver has announced its second quarter 2024 production results, revealing a total output of 1,312,572 ounces of silver and 10,549 ounces of gold, translating to 2.2 million silver equivalent ounces (AgEq). The company’s year-to-date production has reached 4.4 million AgEq ounces, aligning with the upper range of the full-year 2024 production guidance of 8.1 million to 8.8 million AgEq...
Hindustan Zinc Reports Mixed Production and Financial Results
Hindustan Zinc, an integrated producer of zinc, lead, and silver under the Vedanta Group, reported its production and financial results for the first quarter of FY25. The company noted that mined metal production aligned with annual mine preparation activities, resulting in a 12% quarter-on-quarter (QoQ) decrease. Refined metal production reached 262,000 tonnes, showing a 1% year-on-year (YoY) increase but a...
Gold Faces Pressure Amid Strong Dollar and Bond Yields, Silver Set to Soar
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 week, gold dropped to a...
Silver Prices Plummet as Fed’s Hawkish Stance Weighs on Market
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 prices to plunge below the...
KGHM Reports Mixed Production and Sales Figures for May
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 more significant decline, dropping by...
Silver Prices Dip Amid Rising Treasury Yields and Fed’s Hawkish Stance
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 on silver prices. The first...
Technical Analysis Indicates Further Downside for Silver Prices
On 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 prices dropped over 2.40% after...