silveroutlook
Speaking to the Investing News Network, Chen Lin of Lin Asset Management shared his outlook for silver, explaining that the white metal could move quickly to the US$50 per ounce level once market participants realize how large the divide between supply and demand really is. When asked about the most important drivers for silver right now, he pointed to the solar industry, noting that two to three years ago it was consuming 100 million ounces of silver; that amount rose to 200 million ounces last year. This year, the Silver Institute is projecting a further 40 million ounces of solar demand, bu...
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Strength in the US dollar briefly pushed the gold price below US$2,300 per ounce midway through the week, but the yellow metal soon bounced back, finishing Friday (June 28) at the US$2,325 level. The latest US Personal Consumption Expenditures (PCE) price index data came out that day, and it shows that in May core PCE was up 0.1 percent month-on-month and 2.6 percent year-on-year — in line with expectations. PCE is the US Federal Reserve's preferred measure of inflation, and can help shed light on its interest rate plans. “The lack of surprise in today’s PCE number is a relief and will be welc...
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Speaking to the Investing News Network, Keith Weiner, founder and CEO of Monetary Metals, discussed the factors driving gold and silver prices right now and what could be in store for the precious metals in the future. Breaking down macroeconomics, monetary policy and supply/demand, he explained why he sees both moving higher. "I think the fundamentals in terms of the macro are obviously there," he said about the gold market. "Sentiment certainly in the rest of the world is there — not in the US at the moment ... but I see essentially endless demand in the east." In terms of silver, he said wh...
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Rick Rule, proprietor at Rule Investment Media, shared his latest thoughts on gold, silver and uranium dynamics, as well as the opportunity he sees in the "hated" platinum and palladium sectors. Speaking first about gold, he said so far foreign central banks have been its main buyers. In his experience, retail investors only become interested in the metal when they get concerned about maintaining their purchasing power. At this point, that hasn't happened yet, and it may not happen for some time. "I will note that it took five years for this to happen in the 1967, 1972 timeframe. In other word...
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Chris Marcus, founder of Arcadia Economics and author of "The Big Silver Short," broke down silver's rise above US$30 per ounce, outlining the wide array of factors that are driving the metal right now. He said that silver has followed gold, which started to move around mid-February and early March, spurred on by expectations that the US Federal Reserve was going to cut interest rates. It still has not done so. "It's been interesting that you would see gold start rallying then, and then silver follow," said Marcus. "I wonder if there's some degree to which, when you have forces like the US deb...
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Gold and silver prices fell off a cliff on Friday (June 7) after seeing strength earlier in the week. The yellow metal rose as high as US$2,386.62 per ounce on Thursday (June 6), while its sister metal hit US$31.49 per ounce the same day. But strong US jobs data and gold-related news out of China turned those gains around. May data from the US Bureau of Labor Statistics shows that 272,000 nonfarm payroll jobs were added for the month, much higher than the 180,000 anticipated by experts. The unemployment rate came in at 4 percent for the period. The US Federal Reserve is scheduled to meet next ...
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Speaking to the Investing News Network, Peter Krauth, editor of Silver Stock Investor, shared his thoughts on what took the silver price above US$30 per ounce and why he's not concerned to see it fall below that level. He explained that the gold price move that started about three months ago lit a fire under silver, which tends to lag behind its yellow counterpart before outperforming. That scenario is currently playing out. Aside from that, Krauth believes futures exchanges and exchange-traded funds are being drained of silver. "I think that the market's come to grips with the fact that that'...
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David Morgan, publisher of the Morgan Report, shared his latest thoughts on silver, outlining the main factors he sees driving the metal at the moment and what its price potential looks like moving forward in 2024. He thinks silver is breaking out given that its move above US$30 per ounce meets the criteria outlined in his Morgan Rule. "Whenever we get a new level ... it must go above that level three days in a row. It can go below the level during the day, but it has to remain above the level OCO — on close only — which is a trading term," he explained. "And it needs to be on above-average vo...
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It was a week of ups and downs for gold, which traded between about US$2,325 and US$2,361 per ounce. Investors were looking toward the latest personal consumption expenditures (PCE) price index data, which was released by the US Bureau of Economic Analysis on Friday (May 31) morning. It shows that PCE was up 0.3 percent month-on-month in April, and 2.7 percent from the previous year. Core PCE, which excludes the more volatile food and energy categories, was up 0.2 percent from March and 2.8 percent compared to last April. PCE is the US Federal Reserve's preferred measure of inflation, and it's...
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Lynette Zang, founder and CEO Zang Enterprises, shared her thoughts on gold and silver prices in 2024, explaining how more and more people globally are turning to precious metals to safeguard their wealth. "That gives me tremendous hope, because that's who we need to wake up to what's happening. They're starting to buy gold, and that thrills me," she told the Investing News Network during an interview. "If we can get even 3 percent of the public to have a quiet revolution and convert their fiat money into sound money — physical gold and physical silver — it's all you have to do for a quiet rev...
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