Gold and Silver Well Placed to Resume Uptrends, Analyst Says
Market analyst Ira Epstein observes a resurgence in gold, silver and copper. Silver is currently outperforming gold, while tariff changes and upcoming economic data may influence prices.
Gold Market
Market analyst Ira Epstein observes a resurgence in gold, silver and copper. Silver is currently outperforming gold, while tariff changes and upcoming economic data may influence prices.
Canadian junior Military Metals has secured a C$100,000 ($71,000) exploration grant from Nova Scotia for diamond drilling at the historic West Gore antimony-gold project, a past producer of strategic metals during World War One.
Gold and silver saw increased trading volume even without fresh economic data on Yom Kippur. Analyst Ira Epstein points to geopolitical talks and yield curve shifts as key influences.
An Elliott Wave analyst has revised his counts for the stock market, crude oil, and gold, pointing to a retracement in equities and further upside in oil.
CTAs have reversed recent gold buying, but discretionary investors are providing support, according to TD Securities. The bank expects any near-term weakness to be limited and to offer buying opportunities.
Gold held near $4,350 an ounce as lower oil prices eased inflation concerns and traders weighed the Federal Reserve's rate path after its first hike since 2023.
Analysts expect gold to trade in a narrow range next week as markets shift focus to manufacturing and services PMI data from major economies, with the dollar and geopolitical tensions also in view.
Gold initially dropped on the Fed's first rate hike in over three years but quickly surged the next day, suggesting the pattern of selling on rate-hike fears may be fading.
Central bank buying, dollar moves, crude oil, and seasonal demand are shaping the outlook for gold and silver through 2026 and beyond. Here’s what’s driving prices.