Group 1 - Jim Wyckoff has over 25 years of experience in stock, financial, and commodity markets, including roles as a financial journalist and reporter on commodity futures trading floors in Chicago and New York [1] - He has covered every futures market traded in the U.S. at various times throughout his career [1] - Jim is the owner of the "Jim Wyckoff on the Markets" analytical, educational, and trading advisory service [2] Group 2 - He has worked as a technical analyst for Dow Jones Newswires and as a senior market analyst with TraderPlanet.com [2] - Jim is a consultant for the respected "Pro Farmer" agricultural advisory service and was the head equities analyst at CapitalistEdge.com [2] - He holds a degree in journalism and economics from Iowa State University [2] Group 3 - Daily updates and analyses are provided by Jim on Kitco.com, including AM and PM roundups and a daily Technical Special [3]

The Comex gold (GCJ26) futures market overnight hit another record high of $5,345.00 an ounce. In just one week the precious yellow metal tacked on around $500.00. For perspective, the entirety of 2014 through 2018 saw a high-low trading range in gold futures of around $100. www.barchart.com A very active and uncertain geopolitical environment at present is driving unprecedented safe-have demand for gold and silver. This situation is not likely to change anytime soon. President Donald Trump added fuel to ...

Core Viewpoint - Gold prices have reached a new high, surpassing $5,100, driven by central banks and investors seeking safety amid geopolitical risks and market volatility influenced by Trump [1] Group 1 - Gold prices extended their record-setting rally, indicating strong demand for safe-haven assets [1] - The surge in gold prices reflects a response to increasing geopolitical tensions and market instability [1] - Central banks are actively participating in the gold market, contributing to the upward price movement [1]

Core Insights - Silver prices have surged above $100, indicating a significant tightening in the market [1] - The rally is characterized by rapid price increases driven by heavy demand rather than a lack of buyers [2][4] - The current price movement is influenced by both safe-haven demand and strong industrial usage, particularly in a tight supply environment [5][6] Demand Dynamics - Physical demand, especially from Asia, has been a major contributor to the rally, as investors seek silver as a more accessible alternative to gold [7] - Retail buying has increased significantly, adding pressure to an already supply-deficient market [7] Market Positioning - The rally does not exhibit signs of a crowded speculative trade, with positioning remaining at moderate levels [8] - This suggests that the price increase is not solely driven by leverage or short-term momentum [8] Risks and Volatility - Higher silver prices may eventually dampen demand, particularly in industrial applications like solar energy [9] - The market is likely to experience volatility, with sharp rallies potentially leading to periods of consolidation as it reassesses price levels [9] Conclusion - The surge in silver prices reflects a complex interplay of supply and demand dynamics, financial hedging, and industrial usage [10] - As long as this balance remains tight, silver is expected to remain volatile and attract investor attention [10]

Gold (GCG26) prices at mid-week were solidly higher but down from an overnight high that set another record of $4,891.10, basis February Comex futures. Gold backed down a bit after President Donald Trump said at a speech to the World Economic Forum in Davos, Switzerland, that he won’t use force to acquire Greenland. That took some of the risk aversion out of the marketplace after Trump had said a couple weeks ago that he would not rule out using military force to take Greenland. More News from Barchart ...

Gold (GC=F) futures opened at $4,633.70 per troy ounce on Tuesday, 0.8% higher than Friday’s closing price of $4,595.40. In early trading, the price of gold rose more than 2% to eclipse $4,700 per ounce for the first time. This latest gold surge follows President Trump’s weekend threats of new tariffs on eight countries unless they support a U.S. purchase of Greenland. In a Truth Social post, Trump characterized an acquisition of Greenland as imperative to U.S. national security. Greenland is an autonom ...

Geopolitics - US-Iran tensions and local demonstrations in Iran are enhancing gold's appeal as a safe-haven asset [2] - President Trump's threats to acquire Greenland and impose tariffs are contributing to market instability and increasing gold prices [4][6] Tariffs - Trump has threatened a 25% additional tariff on countries trading with Iran and a 10% tariff on European nations opposing his Greenland acquisition [6] - Europe is considering retaliation on over $100 billion worth of US goods, raising fears of a trade war and boosting safe-haven demand [7] Demand and Supply - Total gold demand grew 3% year-on-year to 1,313 tonnes in Q3, the highest quarterly total recorded, with a 44% increase in value to $146 billion [9] - Year-to-date demand is up 1% at 3,717 tonnes, equating to $384 billion, a 41% year-on-year increase [9] - Heavy ETF buying of 222 tonnes and bar and coin demand of 316 tonnes contributed to the overall demand rise [10] - Jewellery consumption declined for the sixth consecutive quarter to 371 tonnes, while value increased by 13% year-on-year to $41 billion [10] Central Bank Buying - Central bank purchases remained high at 220 tonnes, a 28% increase from the previous quarter, although year-to-date buying is slower compared to last year [11] De-dollarisation - The US dollar's share in global exports and output is declining, with its dominance in transactional areas still evident [12] Rupee - Domestic gold prices are supported by the weakening Indian rupee, which has depreciated significantly since the start of 2026 [13] - USDINR January futures are trading above 91, indicating a depreciation of over one rupee this year, benefiting local participants from rising global gold prices and rupee depreciation [13]

Group 1 - Precious metals experienced an increase during the early morning Asian session, driven by likely safe-haven demand [1]

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 ...

Core Insights - Silver has surged past $90 an ounce for the first time, while gold is trading near its all-time high, driven by expectations of further US rate cuts, political pressure on the Federal Reserve, and heightened geopolitical tensions [1][2][4]. Price Movements - Silver jumped as much as 5.3% to $91.5535 an ounce, while gold traded within $10 of its record peak [2][12]. - As of 12:31 p.m. in Singapore, silver was up 4.6% at $90.9590 an ounce, and gold climbed 0.9% to $6,626.43, close to its record high of $4,634.55 [12]. Economic Factors - Lower US inflation data has contributed to bullish sentiment in precious metals, although the figures were noted to be artificially suppressed by a prolonged government shutdown [3]. - The Federal Reserve is expected to pause rate cuts for several months, but swaps markets are pricing in at least two additional cuts later this year [3]. Political and Geopolitical Influences - Political pressure on the Federal Reserve has increased demand for safe-haven assets, with concerns over the independence of the Fed following potential criminal charges against Chair Jerome Powell [4]. - Geopolitical tensions, including US actions in Venezuela and threats regarding Greenland, as well as protests in Iran, have further driven investors towards gold and silver [7]. Market Predictions - Citigroup has raised its three-month price forecasts for gold and silver to $5,000 and $100 an ounce, respectively [8]. - Analysts suggest that silver could reach $150 an ounce by year-end, supported by strong speculative buying and a broader rotation into commodities [9]. Supply Dynamics - Silver's performance has been influenced by ongoing supply tightness and fears of potential tariffs from a US Section 232 investigation, which could limit silver flows into the global market [10][11]. - Heavy speculative buying and elevated trading volumes on major exchanges indicate strong investment inflows [11].