While the price of gold has made plenty of headlines in recent months, silver's progress has gone under the radar, and sector experts suggested it may do better than the more illustrious yellow metal. Silver hit a dollar high of $34.5 per troy ounce in November, and after retreating has climbed back up above $33.3 an ounce today.
The US dollar is down in most of its pairs and gold up in the immediate aftermath of lower than expected American inflation.
Gold's rally positions it for a record high attempt, with $2,990 in sight, yet bearish divergence in RSI suggests caution as underlying momentum slows.
Ernest 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.
Precious metals gain ground as traders bet on dovish Fed.
The gold market continues to pressure the top of a potential bullish flag, and at this point is getting closer to breaking higher. At this point, it is probably only a matter of time.
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.
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.
Silver surges past $32.53 resistance, now eyeing $33.21 and $33.39. Can bulls push for $34.87 next?
Neils 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.
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.
Neils 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.