Latest news with #Comex
Yahoo
6 hours ago
- Business
- Yahoo
As Silver Scores a Nearly 14-Year High, New Records Could Be Just Around the Corner for Precious Metals
Comex silver futures (SIU25) scored a nearly 14-year high today of $39.85 an ounce as of this writing. Gold prices (GCQ25) today notched a five-week high of $3,451.00, basis August Comex futures. Especially impressive this week is that the two safe-haven metals are rallying at the same time as major U.S. stock indexes are hitting record highs and risk appetite in the general marketplace has ticked up. That's a solid signal that more price upside in the two precious metals is likely in the near term. I suspect one reason the gold and silver markets are rallying despite less risk aversion in the marketplace is because of recent business media attention on soaring copper futures (HGU25) prices that this month hit a record high, as well as recent news that the U.S. and China are wanting to stock up on more rare earth metals and minerals. More News from Barchart Dollar Falls due to Lower T-note Yields Dollar Weakens and Gold Rallies as T-note Yields Slide Will Metals Stay in the Spotlight Wednesday? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. My bias is that rallies in both the hard assets (metals) and the paper assets (stocks) cannot be sustained. Here's a scenario that could play out in the coming weeks or months: With the major U.S. stock indexes hitting record highs this week, it would not surprise me to see the stock indexes now trade sideways, or maybe just a bit higher, into the Labor Day holiday weekend in early September. Gold and silver prices may also move into more sideways and consolidative trading ranges in the coming weeks — but not before likely gaining further in the very near term. It is highly possible that gold and silver could set new record highs before the Labor Day holiday — and especially silver. For perspective, the all-time high in Comex gold futures was scored in April 2025, at $3,485.60 an ounce. The all-time high in Comex silver futures occurred in December 1979, at $50.36 an ounce. The fact that gold hit a record high in April, while silver is still more than $10 away from its record high, suggests that silver has more room to run on the upside in the near term, compared to gold. My bias is that silver is still a value-buying opportunity even though prices hit a nearly 14-year high today. After the U.S. Labor Day Holiday… The Labor Day holiday in early September marks the unofficial end of summer for Americans. Summer vacations are over, kids are back in school, days are getting shorter and cooler, Europeans are back from their August break — and traders and investors are getting back to business following the summer doldrums. History shows the months of September and October can be very unkind to stock market bulls. That may especially be the case this year, since the U.S. stock indexes hit record highs over the summer. It seems that in the fall, traders and investors become more worried about things, which this year will likely include an overbought stock market, global trade tensions, government debt problems, and geopolitics. If the U.S. stock markets start to wobble this fall, which I think will be the case, then global stock markets will likely also become shaky. To extrapolate further, currency markets may then also become more volatile as government debt worries may increase. This scenario is bullish for the safe-haven gold and silver markets. Other fundamental elements that are likely to work in favor of the gold and silver markets bulls in the coming weeks and months include: Geopolitics, which have the potential to come to a boil rapidly and become a front-burner issue. The Middle East remains a potential powder keg. Russia-U.S. relations are strained at present. The Aug. 1 U.S. tariff deadline is rapidly approaching, and the U.S. and European Union have not come to an agreement. Technical charts for gold and silver remain overall bullish from both shorter-term and longer-term perspectives. That's going to keep chart-based traders and investors playing the long side of the metals. Upbeat economic data coming from the U.S. and China means likely better consumer and commercial demand for precious metals, especially from China. To my valued Barchart readers: Enjoy the rest of your summer but then buckle up for some turbulence after Labor Day. Tell me what you think. I really enjoy getting email from my valued Barchart readers all over the world. Email me at jim@ On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
8 hours ago
- Business
- Yahoo
Silver's hot streak gathers pace; market at highest since 2011
By Polina Devitt and Sherin Elizabeth Varghese (Reuters) -Silver prices surged to their highest in almost 14 years on Wednesday, aided by worries about U.S. tariff policy, signs of tightness in the spot market and growing investor interest in alternatives to gold. Spot silver was up 0.3% at $39.40 per troy ounce as of 1354 GMT, its highest level since September 2011. Silver, both a precious and industrial metal, is up 36% this year, outperforming gold's 31% growth and coming within a whisker of the key $40-per-ounce mark. The metal hit a record high of $49 in 2011. U.S. President Donald Trump's plan to impose 50% import tariffs on copper from August 1 and the U.S. import tariffs for Mexico widened the premium of the U.S. futures for silver and other metals against the London benchmarks in July, leading to a growth in lease rates in the spot market. Gold, silver, platinum and palladium were excluded from Trump's April reciprocal tariffs, but "the broader market isn't trading it that way and is taking a page out of Comex copper's handbook", Nicky Shiels, head of metals strategy at MKS PAMP. Spot silver prices may hit $42 per ounce this year, according to Shiels. Analysts also noted that industrial demand for silver, heading for the fifth year of structural market deficit, remains solid, while investment demand is gaining momentum as a more affordable alternative to gold. Silver's recent rally has improved its ratio with gold to the strongest level in seven months. It currently takes 87 ounces of silver to buy an ounce of gold, compared with 105 ounces in April. "It is the copper tariff that sent some spinning off at odd tangents that captured the other metals," said a precious metal trader based in London, adding that the lease rates in the spot market should fall once the borrowing activity caused by the U.S. tariff fears subside. The current momentum could be hot enough to take silver over $40/oz in the short term, said Nitesh Shah, commodity strategist at WisdomTree. "But with positioning stretched, we would not be surprised if it fell back to $35/oz, before it starts its march higher to $45/oz next year," Shah added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Print
a day ago
- Business
- The Print
Gold climbs to over Rs 1 lakh/10 g, silver rallies Rs 3,000 in Delhi
In the national capital, gold of 99.5 per cent purity appreciated by Rs 1,000 to Rs 99,550 per 10 grams (inclusive of all taxes) on Tuesday. It had closed at Rs 98,550 per 10 grams in the previous market close. The precious metal of 99.9 per cent purity soared four-week high of Rs 1,00,020 per 10 grams from the previous close of Rs 99,020 per 10 grams. Previously, gold traded at Rs 1 lakh per 10 grams level on June 19. New Delhi, Jul 22 (PTI) Gold prices climbed Rs 1,000 to regain the Rs 1 lakh per 10 grams level in the national capital on Tuesday due to strong buying by stockists, according to the All India Sarafa Association. In line with gold, silver prices too rallied by Rs 3,000 to Rs 1,14,000 per kilogram (inclusive of all taxes) on Tuesday. The white metal had ended at Rs 1,11,000 per kg on Monday. Meanwhile, spot gold slipped 0.28 per cent to trade at USD 3,387.42 per ounce in the global markets. 'Gold traded in a narrow and volatile range between USD 3,395 and USD 3,383 on Comex, reflecting a lack of fresh triggers from trade deals or major global developments,' Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said. In the international markets, spot silver also declined by 0.11 per cent to USD 38.89 per ounce. 'Investors will closely monitor the US Federal Reserve Chair Jerome Powell and Governor Michelle Bowman's speech later in the day for guidance on the central bank's monetary policy stance,' Abans Financial Services' Chief Executive Officer Chintan Mehta said. According to Riya Singh, Research Analyst – Commodities and Currency at Emkay Global Financial Services, traders will track China's loan prime rate decision, and key US macroeconomic data releases, including PMI and durable goods orders, which could shift interest rate expectations and determine the next directional impulse for gold globally. PTI HG MR HG SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
a day ago
- Business
- Time of India
Gold rate today: Yellow metal tops Rs 1 lakh/10g in Delhi as stockists step up buying; silver jumps Rs 3,000/kg
Gold rate today: Gold prices jumped Rs 1,000 on Tuesday to reclaim the Rs 1 lakh per 10 grams mark in the national capital amid strong buying by stockists, according to the All India Sarafa Association. The price of gold with 99.9% purity hit a four-week high of Rs 1,00,020 per 10 grams, up from the previous close of Rs 99,020. This is the first time gold has reached this level since June 19, PTI reported. Gold of 99.5% purity (inclusive of all taxes) also climbed Rs 1,000 to Rs 99,550 per 10 grams, up from Rs 98,550 in the previous session. Silver prices surged alongside gold, rising by Rs 3,000 to Rs 1,14,000 per kilogram (inclusive of all taxes), from Rs 1,11,000 per kg on Monday. Meanwhile, in the global markets, spot gold slipped 0.28 per cent to $3,387.42 per ounce. "Gold traded in a narrow and volatile range between $3,395 and $3,383 on Comex, reflecting a lack of fresh triggers from trade deals or major global developments," Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said. Spot silver also declined 0.11 per cent to $38.89 per ounce. "Investors will closely monitor the US Federal Reserve Chair Jerome Powell and Governor Michelle Bowman's speech later in the day for guidance on the central bank's monetary policy stance," said Chintan Mehta, Chief Executive Officer of Abans Financial Services. According to Riya Singh, Research Analyst - Commodities and Currency at Emkay Global Financial Services, "Traders will track China's loan prime rate decision, and key US macroeconomic data releases, including PMI and durable goods orders, which could shift interest rate expectations and determine the next directional impulse for gold globally." Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hamilton Spectator
a day ago
- Business
- Hamilton Spectator
Taseko Provides Construction Update on Florence Copper Project
VANCOUVER, British Columbia, July 22, 2025 (GLOBE NEWSWIRE) — Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ('Taseko' or the 'Company') is pleased to update the progress at its 100%-owned Florence Copper project in Florence, Arizona. At the end of June, construction of the commercial production facility was over 90% complete, and the project remains on schedule for first copper cathode production before the end of this year. Over 900,000 project hours have been worked with no reportable injuries or environmental incidents on the project to date. Currently, there are approximately 330 construction and support personnel on site, down from the peak levels in the first quarter. Stuart McDonald, President & CEO of Taseko, commented, 'The first 18 months of construction has gone exceptionally well, demonstrating the quality and experience of our on-site owner's team and contractors. Construction activities are advancing on plan and project areas will soon start the transition to commissioning. A few notable milestones have recently been achieved. In the wellfield, all the injection and recovery wells planned for the construction phase have now been drilled and completed. Drilling will recommence after plant commissioning to expand the current wellfield and allow for copper production to ramp up to the full 85 million pound per year plant capacity. Also, last week, a key component of the site infrastructure was completed with APS (the local utility) energizing the site 69kV electrical substation.' 'Operational readiness remains a key focus for site management. Hiring full-time staff, training, and developing operational workflows are all ongoing to ensure our team is well-positioned for commercial operations in just a few months. A detailed operating plan for the 2026 ramp up is also being developed and will be finalized after acidification of the wellfield commences in the fall.' 'Florence Copper will be the next major U.S. supplier of domestically produced copper cathode. The potential for 50% tariffs on copper imports into the United States has driven the Comex copper price to record levels in recent weeks. It's a great time to be bringing on a new U.S.-based copper mine, and a high Comex copper price premium would provide a further boost to Florence Copper's already strong project economics,' concluded Mr. McDonald. For further information on Taseko, see the Company's website at or contact: Stuart McDonald President and CEO No regulatory authority has approved or disapproved of the information contained in this news release Caution Regarding Forward-Looking Information This document contains 'forward-looking statements' that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'believe', 'estimate', 'expect', 'intend', 'should' and similar expressions. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to: For further information on Taseko, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission and home jurisdiction filings that are available at , including the 'Risk Factors' included in our Annual Information Form.
