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July 3, strategists at State Street Investment Management said that after 18 months of frenetic gains, the upward volatility of gold prices may ease in the coming quarters. However, support factors including ETF inflows, central bank purchases and a weaker dollar are still favorable for gold prices to rise until 2026. Strategists continue to believe that there is an 80% chance that gold prices will remain flat or rise in the next 6-9 months, and in the case of a 30% bull market, gold prices could hit $4,000 an ounce. They added that a weaker dollar and the Federal Reserves likely dovish policy in the second half of the year could help gold attract more allocations from the record $7 trillion in money market mutual funds.On July 3, ASML (ASML.O) announced that it will announce its second quarter 2025 results at 07:00 CET on July 16, which is still one day earlier than TSMC. ASML executives will hold a 60-minute investor conference call at 15:00 CET on the same day.July 3, the pound rebounded after falling on Wednesday when British Prime Minister Starmer did not seem to confirm in Parliament that Chancellor of the Exchequer Reeves would stay. However, a spokesman for the British Prime Minister later said that Reeves had Starmers full support. The Labour government was forced to make major concessions on welfare reform. Nikos Chaberas, an analyst at Tradu.com, said in a report that the prospect of further tax increases or increased borrowing could disrupt the market. This loss of confidence could "cause trouble" for the pound.According to NHK, no tsunami warning was issued after the earthquake in Kagoshima Prefecture, Japan.According to NHK, an earthquake occurred off the coast of Kagoshima Prefecture, Japan.

Despite a decline in the value of gold, silver prices are predicted to increase

Daniel Rogers

Jun 22, 2022 14:43

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Along with the majority of the precious metals complex, silver prices moved in a sideways direction. Following weaker-than-expected existing home sales, U.S. Treasury rates were restricted. Gold prices decreased, putting a ceiling on the precious metals complex.

 

According to the National Association of Realtors, existing home sales decreased by 3.4% in May to 5.41 million units at an annualized pace. Sales decreased by 8.6% compared to May 2021. This value is the lowest since June 2020. The decline in demand was likely due to the increase in mortgage rates. During the month of May, the average rate on a 30-year fixed mortgage increased from around 4 percent to 5.5%.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if required, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts provide spreads beginning at 0 pips and commissions of $3.50 every 100k transacted. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any nation or jurisdiction where distribution or use would violate local law or regulation.

Technical Evaluation

The price of silver inched up but remained above the 10-day moving average of 21.64. At the 50-day moving average of 22.52, there is observed resistance.

 

The recent crossing of the 50-day moving average below the 200-day moving average is negative for XAG/USD and indicative of bearish momentum.

 

As the fast stochastic created a crossing sell signal, short-term momentum has gone negative.

 

The medium-term momentum turns positive when the histogram and MACD both show positive values (moving average convergence divergence). The trajectory of the MACD histogram is positive with an upward sloping trajectory, indicating that prices will increase.


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