Silver soars, gold nears record in flight to havens

Gold bars sit in a stack as an employee pours molten fine gold into an ingot mold during gold bar production at Oegussa GmbH's gold and silver separating plant a unit of Umicore SA in Vienna Austria on Friday Jan. 16 2015. The Swiss central bank

Silver soars, gold nears record in flight to havens

Indicative of investor sentiment, holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund or gold ETF, rose 0.4% to 1,225.01 tonnes on Wednesday, its highest since March 2013.

Among the best performing non-leveraged ETFs of Wednesday, the iShares Silver Trust (SLV) was up 7.6% as Comex silver futures rose 6.7% to $23.0 per ounce. "Gold has risen to 2011 highs amid weaker U.S. dollar and additional stimulus measures".

Gold soared to a nine-year peak on Wednesday as an escalation in US- China tensions stoked demand for safety, while silver followed bullion's rally to hit a near seven-year high on hopes for a recovery in industrial demand.

Gold for immediate delivery rose as much as 1.3 per cent to US$1,865.81 an ounce, the highest since September 2011, and closing in on the all-time high of US$1,921.17 set that year.

Trump Sends Well Wishes To Jeff Epstein Associate Ghislaine Maxwell
An indictment alleged that Ms Maxwell groomed the victims to endure sexual abuse and was sometimes there when Epstein abused them. One Twitter user @SicAndTirade noted, "Trump suggested he met Ghislaine Maxwell many times in Palm Beach".


Sriram Iyer, Senior Research Analyst, Reliance Securities, said worldwide spot gold prices have risen 5 per cent over the last month on investment demand and weak USA dollar.

"The likelihood of interest rates remaining low for the foreseeable future and the weaker US dollar have really boosted investor appetite". "Price may remain higher unless we see a significant recovery in United States dollar or some profit booking by ETF investors", Kotak Securities said.

Central banks have slashed interest rates and rolled out a wave of stimulus measures to cushion the economic damage from the pandemic, helping gold prices surge over 22% so far this year.

Gold silver ratio is arrived by dividing the spot gold price with the silver price, which when rises indicates relatively higher gold prices and vice-versa, when it falls.

Researchers developed a quick test to detect COVID-19
Utilizing serum collected from patients who had recovered in the prior coronavirus outbreak. Or animal sera like the standard virus neutralization and pseudovirus-based tests.


Mihir Kapadia, chief executive of Sun Global Investments, said: 'Since the outbreak of the pandemic across the world, the dollar has seen its value decline 5.1%, with July seeing losses of 2.3% so far in what has spooked investors to turn to other safe havens such as gold and silver in recent times'.

In the spot market, gold prices flipped into discounts due to weak demand.

"Gold has managed to break through the $1,818 mark this week, as this precious metal pushes into a fresh eight-year high on the way to the [September 2011] $1,921 record high", London-based IG senior market analyst Joshua Mahony said yesterday.

Vidéo: La Chine a lancé une sonde vers Mars
La Chine investit des milliards d'euros dans son programme spatial, afin de rattraper l'Europe, la Russie et les Etats-Unis. Elle devra d'abord parcourir, en sept mois, les 55 millions de kilomètres qui séparent la Terre et Mars .


Latest News