precious metals list

Silver longs at strong support at 2220/00 worked perfectly with a low for the week exactly here & a bounce to all targets as far as 2280.

Today's Analysis.

Gold longs at best support at 1765/60 work as we hit my targets as far as 1791/92 with strong resistance at 1800/1805 again today. A break above 1810 is an important buy signal.

Downside is expected to be limited with minor support at 1775/73. Best support again at 1765/60. Longs need stops below 1758.

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Silver longs at 2220/00 worked perfectly as we reach the 2280 target. Further gains today meet minor resistance at 2295/2300. Strong resistance at 2330/50 - shorts stop above 2365 & reverse in to a long on a break higher, using 2350/30 as support targeting 2395, 2410 & eventually 2445/55.

Gold Stocks Have Performed Very Well Under Pressure

Gold Price Fails Essential Support, But The Bulls Still Have A Chance | FxPro

Alex Kuptsikevich Alex Kuptsikevich 13.05.2022 11:34
A sell-off in the equity market and a new wave of flight to the dollar on Thursday provided the perfect combination to knock out gold, which slipped to $1810 in thin trading on Friday morning, falling to its lowest level since early February. The current decline in the price makes us keep a close eye on further developments Right now, it’s up to gold to decide whether we see a double top formation or whether the bulls are gaining strength and liquidity ahead of a new multi-month rising momentum. The current decline in the price makes us keep a close eye on further developments. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM A consolidation of the week under $1830 would reinforce that signal Yesterday, gold took a sharp plunge under the 200 SMA, which is often a bearish factor for the instrument. A consolidation of the week under $1830 would reinforce that signal. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM A potential bull target, in this case, could be the $2500 area This would open the way for another roughly 25% drop into the $1350 area, the area of the 2015-2018 highs. If we see an uptick in buyers’ in the hours and days ahead, we could say that gold is in a correction. Potentially, a reversal to the upside from these levels could signal the start of a new wave of long-term growth, the first impulse of which was in 2018-2020, followed by a prolonged wide side trend. A potential bull target, in this case, could be the $2500 area.
Bank of England Faces Rate Decision: Uncertainty Surrounds Magnitude of Hike

Weaker USD (US Dollar) Has Affected Base Metals And Crude Oil Prices

ING Economics ING Economics 13.09.2022 13:17
Your daily roundup of commodities news and ING views Energy - oil bounces The retreat in the USD has provided a boost to oil prices, with ICE Brent briefly trading back above US$95/bbl at one stage yesterday. Despite this rebound, there are still some clear downside risks for the market. The most important continues to be China’s zero covid policy. The latest data from the US Department of Energy (DOE) shows that US strategic petroleum reserves (SPR) fell by 8.4MMbbls over the last week to 434.1MMbbls, the lowest level that the SPR has seen since October 1984. The current releases are set to come to an end in October. However, there are reports that the US is looking to potentially extend SPR releases. Clearly, the US administration is concerned about what happens to oil prices once the current releases come to an end. EU ministers continue to work towards coming up with a plan to intervene in European energy markets. A draft proposal suggests that the EU will look to enforce mandatory demand cuts for power- overall demand cuts as well as during peak hours. In addition, the EU is also proposing a levy on energy companies’ extra/abnormal profits. Finally, the EU also wants to cap revenues for power generators, with the exception of gas fired power capacity. This is still a proposal, but the hope is that a deal is finalised before the end of September.   Metals - weaker dollar boosts prices Base metals prices started the week higher, boosted by the weaker dollar as the US currency retreated from a record high it reached last week. Aluminium supply risks were exacerbated amid talks of potential power cuts to smelters in China’s Yunnan province. The province, which accounts for more than 12% of the country’s production, may begin reducing operating rates by 20-30% this month amid a drought-induced shortage of hydropower. Meanwhile, the European Union said it will outline this week concrete measures to address the worsening energy crisis, including a proposal for targets to reduce electricity demand as well as aiming to cap excessive revenues of companies producing power from sources other than gas, through a limit on the price of electricity generated from technologies such as renewables, lignite or nuclear energy. Agriculture - USDA revisions push soybeans higher The latest USDA WASDE report shows expectations of further tightening in US corn and soybean supply.  For corn, the USDA has revised its 2022/23 ending stocks to 1.22bn bushels a previous estimate of 1.39b bushels. This was still somewhat higher than the 1.19bn bushels the market was expecting. US corn output was revised down from 14.36b bushels to 13.94bn bushels. This lower output was partly offset by lower domestic demand as well as exports. US soybean production estimates were revised down, from 4.53b bushels to 4.38b bushels, due to lower acreage and yield estimates. As a result, US ending stocks for soybeans were lowered from 245m bushels to 200m bushels for 2022/23, some distance from the 246m bushels the market was expecting. The USDA left US wheat supply and consumption unchanged. For the global market, the USDA estimates corn ending stocks to fall from 306.7mt to 304.5mt for 2022/23, still above the 301.7mt the market was expecting. Global corn production estimates were lowered by 7mt to 1,172.6mt due to supply losses from the US (-10.5mt) and the EU (-1.2mt). Similarly, soybean global ending stocks were lowered from 101.4mt to 98.9mt, lower than market expectations of a little over 101mt. Finally, global wheat ending stocks were increased from 267.3mt to 268.6mt, largely on the back of an increase in production estimates for 2022/23. Read this article on THINK TagsWASDE Oil Energy crisis Aluminium Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Ed Moya and Jonny Hart talk the US Q3 GDP, crude oil and crypto

China: Will Jewelry Market Be Affected By The Economic Situation? | What Did Make Gold Price Decrease To Multi-Year Low?

ING Economics ING Economics 16.09.2022 14:38
The bulk of the commodities complex has come under pressure recently, with sentiment remaining fairly negative. Aluminium managed to buck the trend yesterday, settling up on the day as Chinese supply risks continue to grow China Jiangsu metal processing plant workshop Energy - China refined product export quotas Oil prices were unable to escape the broader pressure on risk assets yesterday. ICE Brent settled almost 3.5% lower on the day. Lingering demand concerns over China have hit sentiment, whilst recent weakness in refinery margins is certainly not helping. While our balance suggests a well-supplied market for the remainder of the year, the potential for OPEC+ intervention means that the floor for the market is not too far below current levels. The US Department of Energy has said that the refilling of the US Strategic Petroleum Reserves (SPR) will not be triggered by hitting a certain price level, and that the refilling will likely not occur before the end of 2023. Earlier this week, there were reports that the US was potentially wanting to refill the SPR if prices traded below US$80/bbl. ICE gasoil came under further pressure yesterday, with reports that the Chinese government may issue another batch of refined product export quotas, which could total 15mt. So far this year, three batches of quotas have been released amounting to 22.5mt, down around 39% YoY. China has been cutting export quotas in recent years to drive consolidation in the domestic refining industry as well as to tackle pollution. Suggestions are that the government is looking at a sizeable allocation of quotas to help drive growth. If confirmed, this would be welcome news for refined product markets, particularly middle distillates, which are extremely tight at the moment. Metals – tightening supply lifts aluminium prices Aluminium prices climbed amid speculation that some smelters in China’s Yunnan province may expand production cuts by 20-30% due to ongoing power rationing. Aluminium smelters in the region have already reduced their output by 10% since the weekend. The output cuts in China are coming on top of European and some North American smelter closures and curtailments over the past 12 months amid the worsening energy crisis. For copper, the latest data from the LME showed on-warrant stocks rising by 10.4kt - the biggest daily increase since June 27th - to 88.8kt with the majority of the gains reported from the warehouses in the US and Asia. Despite the increase, the cash/3M spread stays firmly in backwardation of a little over US$119/t. ArcelorMittal SA said it expects its European steel output to drop in the fourth quarter of the year amid weak demand and high energy costs. Europe’s biggest steelmaker expects its crude steel production on the continent down 1.5 million tonnes in the fourth quarter from the year before – down about 17% year-on-year. In precious metals, gold fell to its lowest level in more than two years amid tightening monetary policy in the US and Europe. Weak economic growth in China may also impact gold jewelry demand in one of the top consumers of the precious metal. Read this article on THINK TagsSPR Refined product Power shortages China exports Aluminium Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
On Friday Gold Touched $1660 - The Level Not Seen Since April 2020...

On Friday Gold Touched $1660 - The Level Not Seen Since April 2020...

Alex Kuptsikevich Alex Kuptsikevich 19.09.2022 11:34
Gold's timid attempts to push back from the lower end of a more than two-year range were foiled by a stiff market reaction to US inflation statistics. Gold plunged to $1660 on Friday, rewriting its low from April 2020, while buying has been rising for the last 19 months just after touching the $1680 area. Notably, gold reversed sharply last month from the round level of $1800, which had acted as support several times between February and June. Thus, the gold bulls are one by one, giving away the technical levels that were significant before. In addition to the consistent retreat from the horizontal levels, we note that the downwardly directed 50-day moving average has been acting as local resistance since June. Last week's last downward momentum was precisely from this curve. The move to higher timeframes generates even more worries about the outlook for gold. Gold closed last week a hair above its 200-week moving average. That was mainly due to Friday's local bounce, as the bears were lowering profits from the big move. The start of the new week is under this curve. The fall under it in 2013 and the inability to get a foothold over it in 2016 were followed by a strong sell-off, which is a worrying sign now. A test of the 200-week average is a once in a few years event that can set the trend for years to come, and the forthcoming Fed meeting this week provides a meaningful macroeconomic backdrop for this choice. If the Fed's decisions and Powell's comments prove to be as adamant about fighting inflation as the markets now expect, we could see a repeat of the 2013-2015 pattern of gold's failure. Back then, a breakout of the lower end of the sideways range in 2.5 years of the steady decline took more than 30% off the price. A similar failure will wipe out all of the gains from 2018, returning to the $1170 area over the next two years. Read next: How High Will The Bank Of England Raise Rates?| FXMAG.COM However, on our side, the odds are now slightly outweighed that the FOMC will shift the rhetoric towards easing, as the markets had expected since June. But they seem to have dropped that idea last week after the inflation report, and we note that it was quite a minor upshot. Moreover, long-term inflation expectations have already returned to normal. In addition, there are increasing signs that financial markets are under stress, which the Fed will also consider when setting policy. Looking at financial markets in favour of the Fed indicates that the committee has slowed down asset sales from the balance sheet, increasingly deviating from its declared trajectory. Excessive stress on financial markets can effectively shut down the economy and turn around the labour market. If the markets perceive current prices as profitable for gold and miners to buy, this week, we could see the formation of a long-term wave that could take gold above $2600 for the next two years.
Gold Price Forecast: XAU/USD remains depressed near $1,665 amid sustained USD strength

Gold Price Forecast: XAU/USD remains depressed near $1,665 amid sustained USD strength

FXStreet News FXStreet News 19.09.2022 16:15
Gold meets with a fresh supply and slides back closer to the YTD low set on Friday. Resurgent USD demand turns out to be a key factor exerting downward pressure. The risk-off impulse helps limit losses ahead of key central bank meetings this week. Gold maintains its offered tone through the early North American session and is currently placed near the $1,665 region, just above the daily low. A stronger US dollar is seen weighing on the dollar-denominated commodity, which remains well within the striking distance of its lowest level since April 2020 touched on Friday. Expectations that the Federal Reserve will stick to its aggressive rate-hike path to tame uncomfortably high inflation continue to underpin the greenback. A fall in the near-term inflation expectations for consumer prices in the US to a one-year low in September forced investors to scale back bets for a full 100 bps Fed rate hike move. The US central bank, however, is expected to deliver at least a 75 bps at the end of a two-day monetary policy meeting on Wednesday, which continues to underpin the greenback. This, in turn, remains supportive of elevated US Treasury bond yields. This, along with the prospects for a faster interest rate hike by other major central banks, further contributes to driving flows away from the non-yielding yellow metal. That said, the prevalent risk-off environment, as depicted by a fresh leg down in the equity markets, offers some support to traditional safe-haven assets. This turns out to be the only factor lending some support to gold and limiting the downside, at least for now. Investors also seem reluctant to place aggressive bets and prefer to move to the sidelines ahead of a flurry of central bank meetings this week. The Fed is scheduled to announce its decision on Wednesday, which will play a key role in influencing the near-term USD price dynamics. This will be followed by the Bank of Japan (BoJ), the Swiss National Bank (SNB) and the Bank of England (BoE) on Thursday. This, in turn, should assist investors to determine the next leg of a directional move for gold.
A Better Situation In China May Prevent A Much Sharper Fall In Oil Prices

European Union Has The Crude Oil Price Cap In Mind. How Could Russia Make Price Go Up?

Craig Erlam Craig Erlam 23.09.2022 15:13
European Union's Crude Oil Price Cap Is On The Table The threat of a global recession continues to weigh on oil prices, with widespread monetary tightening over the last couple of days fueling fears of a significant hit to growth. Central banks now appear to accept that a recession is the price to pay for getting a grip on inflation, which could weigh on demand next year. At the same time, the market still remains tight and OPEC+ is perfectly willing to restrict supply further even as it fails to deliver on quotas it has set itself so far. What’s more, a nuclear deal between the US and Iran looks no closer and Russia’s mobilization could pose a risk to its supply. As for the price cap that the EU is working hard towards, that’s a big unknown as it may not even get the unanimous support it needs from member states. If it does, there’s no guarantee it will work without the cooperation of those that Russia has been able to lean on since sanctions came in and if it is effective, Russia could reduce supplies and cause a price spike. With that in mind, very little is probably priced in at this point. Is gold eyeing a correction? It’s been a choppy week for gold amid all of the central bank tightening and yet it hasn’t really progressed in that time. The break below $1,680 was a big deal but it hasn’t really been the catalyst for anything since. While it hasn’t accelerated lower so far, it does continue to see resistance at $1,680. How long for depends on whether all of this tightening becomes a trigger for a correction in the dollar and maybe yields. If we do see a corrective move then the next big test may come around $1,730 which was previously a major level of support and then resistance. A break of this would suggest a much deeper correction may be underway. A break below $1,650 on the other hand could be viewed as a secondary confirmation of the initial breakout and a very bearish signal. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Oil drifting, gold in choppy waters - MarketPulseMarketPulse
Gold Has A Chance For The Rejection Of The Support

Precious Metals: Let's See ING Economics' Gold Price Forecast

ING Economics ING Economics 27.09.2022 10:42
US dollar strength and central bank tightening have weighed heavily on the gold market. And with further tightening expected there is room for more downside in the near term. However, the medium-term outlook is more constructive Source: Shutterstock USD strength and rising yields hits investor demand Given the amount of uncertainty at the moment coupled with high inflation, many in the market may have thought gold prices should be well supported. However, this has not been the case. Spot gold is trading at its lowest levels in more than two years and has fallen more than 20% from its recent peak in March, pushing it into a bear market. The dominance of the US dollar has hit sentiment across the commodities complex and gold has not been spared in this move. The USD index has surged to a 20-year high. This strength is largely a result of the aggressive stance the US Federal Reserve has taken in terms of monetary tightening in order to fight inflation. And with inflation proving to be stickier than anticipated, the Fed is expected to be even more hawkish than originally thought for the remainder of the year. Our US economist is of the view that we will see a further 75bp hike in November and a minimum of 50bp in December, which would leave the target range at 4.25-4.5%.  Despite sticky inflation, real yields have also been climbing. 10-year real US yields have reached their highest levels in more than a decade and are firmly back in positive territory. Given the strong negative correlation between gold prices and real yields, it is not surprising to see that gold has struggled in this rising yield environment. Higher yields increase the opportunity cost of holding gold, which appears to be turning investors off the yellow metal. Total known exchange-traded fund (ETF) holdings in gold have declined by almost 9% since April to stand at around 97.9m oz – levels we last saw back in January. Data from the World Gold Council shows that over August, ETF outflows amounted to 51 tonnes, which is the fourth consecutive month of net outflows. And it is pretty clear that the market is set to see further outflows in September. Speculative positioning in COMEX gold is no better with speculators holding a net short position. The net short stands at 32,966 lots as of 20 September, which is the largest short speculators have held since late 2018. From a pure positioning point of view, speculators still have room to increase this short. Back in late 2018, the net short in COMEX gold was in excess of 100k lots. Weak investor interest in gold as yields surge Note: The right axis showing real yields has the values in reverse order Source: WGC, FRED, CFTC, ING Research Central banks keep adding to gold reserves So far this year central banks have continued to increase gold reserves. During these times of uncertainty (both economic and geopolitical) and high inflation, banks appear to be turning to gold as a store of value. In addition, some central banks may have been concerned about the freezing of Russia’s central bank foreign reserves following its invasion of Ukraine. This action is likely to have left some central banks uneasy, and so looking to diversify into gold. The latest numbers from the World Gold Council show that central bank holdings over 2Q22 increased by almost 180 tonnes (although still down 14% year-on-year). Whilst for July, central bank buying amounted to 37 tonnes over the month. Given the current environment is likely to persist, central banks are likely to continue to add to their gold holdings in the months ahead. Chinese gold demand picks up Chinese gold demand suffered earlier in the year due to the Covid-related lockdowns, particularly over 2Q22, which is when strict restrictions were in place across Shanghai and Beijing. According to WGC data, Chinese consumer demand was down 23% YoY over 1H22. However, the premium in local Chinese gold prices compared to international prices has grown more recently, suggesting that we are seeing stronger domestic demand coming through. Import data appears to back this up, with non-monetary gold imports hitting more than a four-year high in August and up 134% YoY. Meanwhile, another key gold consumer, India, is expected to see stronger gold demand as we head towards Diwali in late October. However, whilst we may see stronger consumer demand, it is clear that price direction is driven by investment flows. And the outlook for this is less constructive in the short term. China gold imports surge Source: WGC, China Customs, ING Research Eventual signs of Fed easing will lift prices While in the short term we suspect gold prices will remain under pressure due to monetary tightening, we will need to keep an eye on signals from the Fed. Any hints of an easing in its aggressive hiking cycle should start to provide some support to gold prices. And in order for this to happen we would likely need to see some clear signs of a significant decline in inflation. We should see inflation coming off quite drastically over 2023 and this will then open the door for the Fed to start cutting rates over 2H23, our US economist believes. This differs from the Fed’s dot plot, which implies higher rates as we move through 2023. However, under the assumption that we see easing over 2H23, we expect gold prices to move higher over the course of 2023. Obviously, the key risk to this view is if inflation turns out to be even stickier than expected, which would require a longer tightening cycle from the US Fed. In addition, the inverted yield curve will raise worries over a looming recession. And these concerns might see some investors seeking safe haven assets, such as gold. Although in the short term, rising rates will likely counter this to a certain degree.   Read more: The Weakening Real Estate Market In The USA And More Speeches| FXMAG.COM ING gold price forecasts Source: ING Research Read this article on THINK TagsYields USD strength US Federal reserve Precious metals Central banks Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Gold price: Oanda's analyst talks technically possible price of $2000 per ounce

Precious metals: GoldViewFX talks price of gold - 24/10/22

GoldViewFX Ideas GoldViewFX Ideas 24.10.2022 23:47
// GoldViewFX - Market UPDATE by Goldviewfx on TradingView.com Trend Analysis Chart Patterns Technical Indicators XAUUSD Gold goldtrading goldanalysis goldsignals tradingideas tradingsignals forexanalysis forexsignals     Hey Everyone,What can we say.... we did it again!!!All targets HIT.Although all our Bullish and Bearish targets were HIT, we only took the trade from 1644 support level with a retest confirmation for a nice BUY with a perfect exit. BOOOM!We did advise yesterday that there was a retracement range to 1644 that we were expecting for a test, and should this hold, we would see a continuation of the breakout, which confirmed our signal for the Buy.We are still keeping in mind, as part of our risk management plan that any further retest on this support level with a EMA5 cross and lock below 1644 will potentially open the full swing range.The levels are still valid, and we can continue to track and trade this level to level with EMA5 cross and lock.BULLISH TARGETS1661 - DONE1668 - DONEEMA5 CROSS AND LOCK ABOVE 1661 WILL OPEN 1668, 1674 AND 1680 - STILL ACTIVE TO MONITOR AND OBSERVEBEARISH TARGETS1652 - DONE1649 - DONE1644 - DONEEMA5 CROSS AND LOCK BELOW 1644 WILL OPEN 1638, 1633, 1629 AND 1626 - STILL ACTIVE TO MONITOR AND OBSERVESWING RANGE1626As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!GoldViewFXXAUUSD TOP AUTHOR 🪙 JOIN OUR FREE TELEGRAM GROUP 🪙 https://www.t.me/GoldView_FXMESSAGE US FOR VIP SIGNALS🏆 http://www.t.me/GoldviewFX🪙 PARTNER BROKER LINK 🪙Vantage Account: https://www.vantagemarkets.com/forex-trading/forex-trading-account/?affid=5258 Twitter Instagram Website Source: Trader Goldviewfx — Trading Ideas & Charts — TradingView
Gold Stocks Have Performed Very Well Under Pressure

Latest gold's achievement may let investors think that bearish trend could be broken

Alex Kuptsikevich Alex Kuptsikevich 09.11.2022 14:30
Investor interest in precious metals is shining with renewed vigour as some investors see them as a safe haven amid the storm of the crypto market. Having broken above $1700, gold is showing the first signs of breaking the downtrend that has been in place since March this year.   On Tuesday gold rose significantly Intraday on Tuesday, gold was up 3%, spurred by rising volatility in cryptocurrencies and overall positive dynamics in traditional financial markets. But to be precise, gold showed an impressive jump as early as Friday, as the bulls managed to push the price out once again of the area of the lows of the last six weeks, and further, a whirlwind of events picked up and lifted it higher. The powerful rally in gold on Friday and Tuesday stands out, for there was no rally in the stock indices on that day, and the collapse in the dollar only happened on Friday. This could be the first signal that we are seeing the beginning of a rebound in gold, and investors, who have been cautious in putting large amounts of capital into gold since late September, are now taking an active bullish stance. Among the fundamental factors supporting the rise in the gold price is the increased buying of gold by central banks, which last quarter bought the maximum amount of gold since the 1980s. It is tactically difficult to persuade central bankers to buy bonds when prices are falling, and central banks of developed countries one by one say they are not finished with a rate hike, suggesting further pressure on bond prices. Meanwhile, overall risk appetite has risen in anticipation of a minor step up of hikes later, drawing attention to the cheaper gold. This week, the price broke through its 50-day moving average at the end of the previous week, and on Monday and Tuesday, this line was already in active support. In addition, gold immediately managed to move above the former support line of July and September. To be sure of breaking the trend, one should wait until the price crosses above the area of the previous highs near $1725. If that happens, the price might end the correction rather quickly and go to $1790-1800, which includes the 61.8% Fibonacci retracement levels of the declines since March, the local highs of August, and the 200-day MA.
Gold Stocks Have Performed Very Well Under Pressure

According to Conotoxia's Daniel Kostecki, gold prices may gain the most since mid-2021 in November

Conotoxia Comments Conotoxia Comments 28.11.2022 15:44
Precious metals, which could be part of an investment portfolio, can count as November’s successful ones among others. We are mainly talking about gold and silver priced in US dollars, whose prices in the eleventh month of this year have definitely increased. Although the month isn't over yet, we're already having a look at what the December statistics may indicate. Gold may be in the spotlight in November, as prices appear to be heading for their biggest monthly increase since mid-2021, currently at around 7.5%. Gold seems to have been gaining recently, thanks to a weakening dollar and to declines in U.S. bond yields. The market may be assuming that the Fed would not be able to keep interest rates at around 5% for quite some time, and there may be cuts in the federal funds rate in 2023. With this narrative, gold appears to be entering December, a month in which the metal has had a positive return for five years in a row. As Bloomberg calculates, December has averaged a 4.2 percent gain since 2017. Gold saw its biggest December price jump in 2020, appreciating by almost 7% then, while the smallest increase took place in December 2017, at 2.23%. In contrast, December 2016 ended with a decline of 1.91%. Source: Conotoxia MT5, XAUUSD, Monthly Silver with more volatility than gold? Silver, like gold, also ended every December up since 2017, with an average return of 7.1%, Bloomberg reported. The best December statistically in this period was December 2020, when silver rose 16.61%. In contrast, silver rose 3.15% in December 2017, while the price fell 3.39% in 2016. In November, silver seems to have led the rise among popular futures contracts. To date, since the beginning of the month, the price has risen more than 13% above $21 per ounce. In contrast, year-to-date, silver denominated in USD is losing about 7.5%. Source: Conotoxia MT5, XAGUSD, Monthly In the silver market, one curiosity may be that a one-ounce Silver American Eagle coin is valued at more than $35. Meanwhile, silver in the form of a one-ounce contract costs about $21. This gives a price difference between a physical ounce and a paper ounce of silver of more than 65 percent, according to data from the Monex service, such a discrepancy has not been seen for at least a decade. This could be one of the favorable factors for silver in the coming month, improving December's precious metals statistics. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com

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