Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

Gold prices are broadly flat in afternoon trading but set to close the week in positive territory."Persistent demand continues to underpin prices, with ongoing purchases by central banks and resilient ETF inflows," says Milad Azar of XTB MENA, while "geopolitical tensions remain a key supportive pillar."The latest U.S. inflation data came in below expectations, sparking a rally on Wall Street Thursday, but economists cautioned against reading too much into the report because of gaps in data collection durin ...

18 December 2025 | 11:33AM EST Commodities Research COMMODITY VIEWS 2026 Outlook: Ride the Power Race and Supply Waves Daan Struyven +1(212)357-4172 | daan.struyven@gs.com Goldman Sachs & Co. LLC Samantha Dart +1(212)357-9428 | samantha.dart@gs.com Goldman Sachs & Co. LLC Lina Thomas +1(212)902-8376 | lina.thomas@gs.com Goldman Sachs & Co. LLC Eoin Dinsmore +65-6889-2401 | eoin.dinsmore@gs.com Goldman Sachs (Singapore) Pte Yulia Zhestkova Grigsby +1(646)446-3905 | yulia.grigsby@gs.com Goldman Sachs & Co. LL ...

driving these big moves higher. Well, joining us now for an exclusive interview is Michael Steinman, CEO of Paname American Silver. Michael, welcome to the show.Thanks for joining us. >> Thanks for having me. >> So, what is driving silver to these record levels.>> Well, there's really two things to silver, right. A, it's a really important uh metal for the economy. It's a critical metal actually right now declared in the US as a critical uh metal and added to the critical strategic uh list for metals uh in ...

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

Gold rose, approaching record levels, as investors looked ahead to US inflation data and monitored escalating tensions in Venezuela. Silver climbed to a fresh peak, and platinum jumped to the highest since 2008. Bullion traded near $4,350 an ounce, recovering from a modest decline in the previous session that snapped a five-day winning streak. Inflation numbers due Thursday will be watched closely for clues on how the Federal Reserve’s appetite for further rate cuts might be impacted. Ahead of the release ...

"Is gold's 60% rally this year merely the appetizer for a late-1970s-style main course?†asks Edwards ...

Core Insights - Gold prices have doubled in the last two years, marking the largest increase since the 1979 oil crisis, with forecasts predicting prices could reach $5,000 per troy ounce by 2026 due to various factors including U.S. policy and geopolitical tensions [1][2][6] Group 1: Price Trends and Forecasts - Spot gold prices hit a record $4,381 in October, driven by demand from central banks and new investors, with expectations of further gains influencing buying behavior [2][6] - Analysts from Bank of America and JP Morgan predict gold prices will average above $4,600 in Q2 2026 and exceed $5,000 by Q4 2026 [6] Group 2: Demand Drivers - Central banks are diversifying reserves away from dollar-denominated assets, providing a solid foundation for gold prices in 2026, as they tend to buy when investor positioning is stretched [4][5] - Investor holdings of gold as a share of total assets under management have increased from 1.5% pre-2022 to 2.8%, indicating a growing interest in gold as a stable investment [6] Group 3: Geopolitical and Economic Influences - Concerns regarding U.S. Federal Reserve independence, tariff disputes, and geopolitical issues such as the war in Ukraine are contributing to the demand for gold [3][4] - The weak dollar policy and U.S. fiscal deficits are also driving investor interest in gold as a means of portfolio diversification [2][3]

Group 1 - Silver futures are currently trading above 15,353, with an opening price of 14,690 and a current price of 15,535, reflecting a 5.21% increase [1] - The U.S. non-farm payrolls increased by 64,000 in November, exceeding the market expectation of 50,000, while the unemployment rate rose to 4.6%, the highest since September 2021 [1] - The average hourly wage in the U.S. for November recorded a year-on-year increase of 3.5% and a month-on-month increase of 0.1%, both below expectations [1] Group 2 - The global silver market has experienced a structural shortage for the fifth consecutive year, with limited mining output and increasing demand from renewable energy and electronics sectors [1] - Expectations of loose global monetary policy and declining real yields have reduced the opportunity cost of holding non-yielding assets, attracting institutional investors seeking diversification and inflation hedging [1] - The silver market is currently characterized by high volatility, with the price expected to continue fluctuating within a range of 14,200 to 15,000 [3]

Core Viewpoint - The article discusses the current sentiment in the precious metals market based on the CFTC data, highlighting the implications of potential interest rate changes by the Federal Reserve and the impact on investment strategies for precious metals [2][27]. Group 1: Market Sentiment and Federal Reserve Actions - Due to the U.S. government shutdown, CFTC data on futures market positions is only updated until November 18 [2]. - The market perceives a 24.4% chance of a rate cut in January, 44% in March, and 63% in April, prompting investors to consider their strategies during the interim period [2][27]. - The next potential Federal Reserve chairpersons, Kevin Hassett and Kevin Warsh, both support further rate cuts, but Warsh advocates for a balance sheet reduction that could negatively impact cryptocurrencies and stock markets, potentially pressuring gold prices [2][27]. Group 2: Fund Positions in Precious Metals - As of November 18, managed net long positions in COMEX gold decreased by 7.9%, while silver and platinum saw declines of 11.1% and 13.8%, respectively [3]. - Year-to-date, net long positions in U.S. futures for gold have dropped by 47%, while silver has increased by 24% [8][9]. - The overall sentiment indicates a significant reduction in long positions across various metals, with a notable increase in short positions for metals other than gold [7]. Group 3: Price Dynamics and Investment Strategies - The gold-to-North American mining stock ratio has decreased by 3.3% recently, indicating that mining stocks have underperformed compared to gold itself [20]. - The gold-silver ratio, a measure of market sentiment, was at 69.38, down 3.6% week-over-week, reflecting a 23.6% decline year-to-date [25]. - The article suggests that if gold prices continue to rise while mining stocks decline, it may signal caution for investors [21]. Group 4: Future Considerations - The article raises concerns about the Federal Reserve's potential actions if inflation pressures resurface while interest rates are being cut [28]. - The complexity of the market dynamics necessitates close monitoring of the new chairperson's statements for clearer expectations regarding asset prices [27].