Silver (SIZ25) fundamentals remain solid as geopolitical hotspots around the globe continue to produce safe-haven demand, generally easier world central bank monetary policies that hint of better consumer and commercial demand for silver in the coming months remain in place, and major industrialized countries hoard “rare-earth” minerals, including silver. However, Thursday’s price action in December silver futures saw a bearish “key reversal” down pattern form on the daily bar chart — whereby a new contr ...

Australia’s role as a resource powerhouse is changing due to global economic forces beyond its control: the fall in oil prices and the record-smashing increase in the price of gold. The country and continent are rich in deposits of iron ore, its number one export, as well as copper, coal, aluminum, lithium and natural gas. Australia also has vast reserves of gold, found for example at the Boddington open-pit mine in Western Australia owned by US-based miner Newmont; the Cadia mine in New South Wales know ...

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Gold prices on Monday surged by ₹1,447 to a new record of ₹1,19,560 per 10 grams in the domestic futures trade, lifted by safe-haven buying amid the prolonged US government shutdown and growing bets on further Federal Reserve rate cuts.On the Multi Commodity Exchange (MCX), gold futures for December delivery appreciated by ₹1,447, or 1.22 per cent, to a lifetime high of ₹1,19,560 per 10 grams.Extending gains for the seventh consecutive session, the February 2026 contract advanced ₹1,512, or 1.27 per cent, t ...

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another. Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a ...

Economic Overview - Global financial markets are experiencing mixed sentiment due to a combination of economic data releases, central bank expectations, and corporate developments across Europe and Asia [2] - European economic indicators show divergent trends, with German consumer confidence slightly improving while the IFO Business Climate Index indicates deterioration [3][8] European Economic Indicators - German GfK Consumer Confidence for October improved to -22.3, better than the estimated -23.3, suggesting cautious stabilization in consumer sentiment [3][8] - Norway's unemployment rate rose to 4.7% in August from 4.6%, indicating slight labor market challenges [4][8] - Sweden's Producer Price Index (PPI) showed a year-over-year decline of -0.7%, highlighting persistent deflationary pressures in the industrial sector [4][8] Asian Market Developments - Japan's retail sector showed improvement, with nationwide department store sales increasing by 2.6% year-over-year in August, contrasting with a decline in Tokyo sales [5][8] - The Bank of Japan (BoJ) is facing uncertainty regarding its rate-hike trajectory, with some analysts anticipating an October rate hike amid mixed signals [6] Currency and Commodity Markets - The GBP/USD pair increased, trading above 1.3450, driven by expectations of Federal Reserve rate cuts [7][8] - Oil prices dipped from recent highs due to profit-taking and supply-demand uncertainties, while gold prices continued to rise amid safe-haven demand [9][8] Technology Sector Innovations - Taiwan Semiconductor Manufacturing Company (TSM) introduced AI-designed chips aimed at significantly improving energy efficiency by approximately 10 times [10] - BYD Company Limited reported a tripling of new car registrations in the EU in August, surpassing Tesla for the second consecutive month, indicating aggressive market expansion [11]

Group 1 - The Sprott Gold Miners ETF (SGDM) has reached a 52-week high and is up 121.09% from its 52-week low price of $26.60 per share [1] - The underlying index, Solactive Gold Miners Custom Factors Index, tracks larger-sized gold companies listed on Canadian and major U.S. exchanges, with an annual fee of 50 basis points [1] - The recent performance of gold is influenced by geopolitical tensions and increased demand for safe-haven assets, alongside the Federal Reserve's rate cuts [2] Group 2 - SGDM is expected to maintain strong performance in the near term, indicated by a positive weighted alpha of 104.17, suggesting potential for further gains [3]

Core Insights - Gold prices experienced a decline of nearly 1%, retreating from a record high of $3,707.40 per ounce, settling at $3,658.25 per ounce, despite a 6% increase so far this month [1][4] - The Federal Reserve cut interest rates by 0.25 percentage points and indicated a steady reduction in borrowing costs for the remainder of the year, leading to profit-taking in the gold market [2][3] - Analysts suggest that gold's price surge this year is supported by central bank purchases, diversification from the U.S. dollar, safe-haven demand amid geopolitical tensions, and a weaker dollar, with a 39% increase in gold prices year-to-date [4] Market Reactions - Spot silver decreased by 2.4% to $41.51 per ounce, platinum fell by 2.2% to $1,360, and palladium dropped by 2.6% to $1,145.44, indicating a broader decline in precious metals [5]

Group 1: Eurozone Economic Outlook - The euro is gaining strength after the ECB maintained interest rates and raised its 2025 Eurozone GDP forecast to +1.2% from +0.9% [1][5] - ECB President Lagarde indicated that the disinflationary process is over, suggesting that the ECB is done cutting interest rates [1][5] Group 2: US Economic Indicators - US August CPI increased to +2.9% year-on-year, up from +2.7% in July, aligning with expectations [3] - Weekly initial unemployment claims rose unexpectedly by +27,000 to a 3.75-year high of 263,000, indicating a weaker labor market [3][4] Group 3: Federal Reserve Rate Expectations - Markets are pricing in a 100% chance of a -25 basis point rate cut at the upcoming FOMC meeting on September 16-17, with an overall expectation of -73 basis points by year-end [2][4] - The dollar index is down by -0.24% due to rising expectations for Fed easing and the strength of the euro [4] Group 4: Precious Metals Market - Gold prices are under pressure due to the ECB's unchanged interest rates and reduced safe-haven demand from stock market strength [9] - However, gold prices are supported by geopolitical risks in Europe and increased gold purchases by China's central bank, which rose by +0.06 million troy ounces in August [10][11] Group 5: Japanese Economic Conditions - The yen is strengthening following positive economic news, including an increase in Q3 BSI large manufacturing business conditions and August producer prices [7][8] - Political uncertainty in Japan may limit the yen's gains, as the resignation of Prime Minister Ishiba could lead to more expansionary fiscal policies [8]

Core Insights - Gold prices are nearing record highs, trading around $3,650 an ounce, driven by expectations of Federal Reserve interest rate cuts and a drop in US wholesale prices [1][3][11] - The precious metal has surged over 40% in 2025, outperforming stocks and other major assets, with a peak of $3,674 earlier this week [1][3] - Central bank buying, a weaker dollar, and recession fears are contributing to the rally in gold prices [9][11] Market Dynamics - The producer price index fell by 0.1% in August, contrary to forecasts, providing the Fed with justification to ease monetary policy at the upcoming meeting [1][3] - Traders are anticipating a near-100% chance of a quarter-point rate cut, with a possibility of a half-point cut [3] - The US dollar index has declined by 10-11% this year, marking its steepest drop in decades, which supports gold's appeal as a safe-haven asset [11] Investment Trends - Investment flows into gold are increasing, with the SPDR Gold Shares ETF attracting $5.5 billion in August, reaching a three-year high in global ETF holdings [12] - Analysts predict gold could reach $3,800 by year-end and potentially $4,000 by mid-2026, with JPMorgan and Goldman Sachs forecasting multiple Fed rate cuts this year [17][18] - Silver has also seen significant gains, rising 45% this year to $40.57 an ounce, indicating a broader trend towards precious metals [20] Supply Considerations - Analysts project that 2025 may see peak global gold output at approximately 3,250 tons, with declining production from aging mines in China and Russia [20] - The current market is characterized by high demand for gold, driven by geopolitical uncertainties and economic instability [21]