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India Gazette
3 days ago
- Business
- India Gazette
Silver hits it highest level in 13-years on weaker USD and solid demand says experts
By Daksh Grover New Delhi [India], June 5 (ANI): Silver prices on Thursday, crossed USD 35 mark per ounce and hit its highest level since March 2012, boosted by a combination of factors such as weaker US dollar, rising geopoltical tension and robust industrial demand. 'With the trust in dollar decreasing silver appears to be a good avenue for money to move to and the Gold Silver ratio was recently above 1.10 so the only way forward was either silver prices rise up or gold prices fall, and thats what has happened silver has risen far more than gold,' said Mrinesh Jain Director, Bombay Bullion Metal Hub LLP. The gold-silver ratio, which shows how many ounces of silver are equivalent to one ounce of gold, helps the market assess future trends by reflecting how silver is performing in comparison to its historical relationship with gold. As reported by Reuters, the dollar prices fell across the board after weaker-than-expected U.S. private payrolls numbers highlighted continued easing in the labor market and data showed the U.S. services sector contracted for the first time in about a year in May. Silver typically moves inversely to the US dollar, when the dollar strengthens, silver prices fall, and when it weakens, silver tends to rise. Additionally, Silver is vital in industries which used in electronics, solar panels, EVs, medical devices, water purification, catalysts, mirrors, and semiconductors due to due to its top electrical, thermal, and antibacterial properties. With rising demand from clean energy and advanced tech, silver is becoming increasingly important beyond traditional uses like jewelry and coins. This can be seen as one of the factors behind the rise. On the geopoltical front, in a significant move invoking national security concerns, US President Donald J. Trump has announced a visa ban for international students planning to begin studies at Harvard University. Trump has also signed an order which imposes travel restrictions on nationals from 19 countries to the US, citing national security risks, according to the White House. Silver gains on safe-haven demand during economic and geopolitical uncertainty, simlar to gold. 'While silver is well-positioned to test further highs--possibly reaching Rs 1,30,000 per kilogram later this year,' said Ajay Kedia, director at Kedia Commodities, Mumbai. Adding, 'silver continues to reflect the dual narrative of a monetary hedge and an industrial growth story.' (ANI)
Time of India
3 days ago
- Business
- Time of India
Silver streak sharpens: Metal hits 13-year high on weaker dollar; experts see more upside amid global churn
Silver prices surged past $35 per an ounce on Thursday, buoyed by currency weakness, industrial appetite and safe-haven flows, with analysts suggesting the rally may not be over yet. Tired of too many ads? go ad free now Silver prices crossed the $35 mark per ounce and hit their highest level since March 2012, lifted by a mix of factors including a weaker US dollar, geopolitical tensions and robust industrial demand, according to experts quoted by ANI. "With the trust in dollar decreasing, silver appears to be a good avenue for money to move to, and the gold-silver ratio was recently above 1.10, so the only way forward was either silver prices rise or gold prices fall. And that's what has happened — silver has risen far more than gold," said Mrinesh Jain, Director, Bombay Bullion Metal Hub LLP. The gold-silver ratio, which shows how many ounces of silver are equivalent to one ounce of gold, is often used to analyse future market trends based on historical relationships between the two metals. The dollar weakened across the board after US private payroll data came in below expectations, signalling further softening in the labour market. In addition, data showed the US services sector contracted for the first time in about a year during May. Silver generally moves in the opposite direction of the US dollar. When the dollar weakens, silver prices tend to rise — and when it strengthens, silver often falls. In addition to its monetary appeal, silver plays a vital role in industrial applications. It is used in electronics, solar panels, electric vehicles, medical devices, water purification, catalysts, mirrors and semiconductors, owing to its superior electrical, thermal and antibacterial properties. Tired of too many ads? go ad free now The recent rise in demand for clean energy and advanced technologies has further driven interest in the metal, extending its appeal beyond traditional segments such as jewellery and coinage. Silver is also known to benefit from safe-haven demand during periods of economic or geopolitical volatility, much like gold. On the geopolitical front, a notable development came as US President Donald J. Trump announced a visa ban for international students planning to begin studies at Harvard University. He also signed an executive order restricting travel to the US from 19 countries, citing national security risks, according to the White House. "While silver is well-positioned to test further highs — possibly reaching Rs 1,30,000 per kilogram later this year," said Ajay Kedia, Director at Kedia Commodities, Mumbai. "Silver continues to reflect the dual narrative of a monetary hedge and an industrial growth story," he added.
India Gazette
29-05-2025
- Business
- India Gazette
Gold slips to one-week low after U.S. Court strikes down Trump tariffs
ANI 29 May 2025, 12:07 GMT+10 New Delhi [India], May 29 (ANI): Gold prices slipped to their lowest level in nearly a week on Thursday, as a stronger US dollar weighed on the precious metal. The downturn was also influenced by investor optimism in equity markets following a major U.S. court of 10:13 a.m. IST, spot gold was down nearly 0.5%, or USD 15.13, to USD 3,273.85, marking its lowest level since May 20.'The US federal court's decision triggered a downside in gold prices, and if there is no response or counteraction from former President Trump, we could see further declines,' said Mrinesh Jain Director, Bombay Bullion Metal Hub LLP, adding that 'prices may potentially retest the support level around USD 3,125.'A US federal court on Wednesday (local time) ruled against US President Donald Trump's large-scale imposition of sweeping tariffs, deeming that this move exceeds his legal authority and that it would affect a wide range of imported goods.'The court does not pass upon the wisdom or likely effectiveness of the President's use of tariffs as leverage,' a three-judge panel said in the decision to issue a permanent injunction on the blanket tariff orders issued by Trump since January, reported by Reuters. 'That use is impermissible not because it is unwise or ineffective, but because [federal law] does not allow it.'Meanwhile, the Trump administration has submitted a notice of appeal, disputing the court's jurisdiction and indicating that the case could be taken to the Supreme Court if dollar index was up 0.4 per cent at USD 100.29. A stronger dollar makes greenback-priced gold more expensive for other currency holders. Alongside this, US Treasury yields also followed the dollar's trend, adding additional pressure on bullion. Meanwhile, Indian stock markets opened on a strong note, buoyed by positive global cues stemming from the U.S. court ruling and robust quarterly earnings from U.S. tech giant Nvidia. This shift in investor sentiment prompted some diversification away from safe-haven assets like gold. (ANI)
