Silver (XAG/USD) ticks higher during the Asian session on Tuesday, though it lacks bullish conviction and seems vulnerable to extending the previous day's retracement slide from the vicinity of a four-week top.
The US dollar initially fell against the Canadian dollar during the course of the trading week, before it then turned around to form a massive hammer. This seemingly demonstrated just how much upward pressure has been seen in the currency pair.
Bitcoin’s decline may be linked to EU/US MiCA regulations targeting Tether. In the silver market, we’re seeing tightness driven by anticipated tariffs.
Gold settled this past week at 2717. That is +25 points above the current Short trend’s confirmation for initial entry back at the open on 11 November, the price then 2692.
Gold and Silver had a strong week while the miners showed less strength. We see a bit more strength before metals and miners retreat from resistance again.
The Non-Farm Payrolls report came in much 'hotter' than expected this morning. And that triggered a reaction in the market with regard to the timing and size of interest rate cuts by the Fed this year.
Foremost among these uncertainties are the prospective tariff measures under the incoming Trump administration, which have stoked inflation fears and contributed to gold’s status as an inflation hedge.
A look at the S&P 500 priced against currency in circulation, the secular trend change in the bond market, and its implications and close with comments on Gold, Silver, and the yield curve.
As we're halfway through the second trading week of the year, the markets remain fixated on the paradigm-shaking policies that the Trump administration continues to advertise are coming.
2024 proved to be a standout year for precious metals and set the stage for a strong 2025. While overall commodities were flat (+1%) last year, gold and silver exhibited a sharp divergence, rallying by +26% and +22% respectively.
