{"id":139048,"date":"2024-10-30T11:18:21","date_gmt":"2024-10-30T11:18:21","guid":{"rendered":"https:\/\/kinesis.money\/?p=139048"},"modified":"2024-11-11T16:43:56","modified_gmt":"2024-11-11T16:43:56","slug":"silver-higher-gold-peaks","status":"publish","type":"post","link":"https:\/\/kinesis.money\/it\/market-analysis\/silver-news\/silver-higher-gold-peaks\/","title":{"rendered":"Silver Price News: Silver Pulled Higher As Gold Hits New Peaks"},"content":{"rendered":"\n

Silver prices made a more convincing move higher on Tuesday, building on Monday\u2019s moderate gains, as gold pushed up to set yet another all-time high.<\/p>\n\n\n\n

Prices climbed to an intraday high of $34.59 an ounce on Tuesday, up from around $33.70 an ounce in late trades on Monday. The strength at the start of the week comes in the context of silver\u2019s recent 12-year high of $34.89 an ounce on October 22.<\/p>\n\n\n

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\"kinesis
Silver KAG\/USD ($\/oz) 1-hourly Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Precious metals enjoying a bull run<\/h2>\n\n\n\n

The latest action means silver is still within striking distance of its recent 12-year high, with the grey metal continuing to take support from gold\u2019s seemingly unstoppable gains. Both metals remain in favour among investors due to an environment of economic uncertainty, falling interest rates and heightened geopolitical tensions due to the conflicts in Ukraine and the Middle East.<\/p>\n\n\n\n

Technical analysis<\/h2>\n\n\n\n

On the technical charts, silver was testing oblique minor resistance at $34.35 an ounce on Tuesday, and managed to hold at just above this level by Tuesday evening. Should silver continue to push higher, the next oblique minor resistance level is seen at $36.33 an ounce. On the downside, silver may encounter support at the 20-day moving average, currently pegged at $32.47 an ounce, followed by oblique major support at $31.24 an ounce.<\/p>\n\n\n\n

Upcoming events to watch out for<\/h2>\n\n\n\n

Looking ahead, economic data points include GDP growth figures on Wednesday for Europe and the US, followed by Chinese manufacturing PMI figures for October overnight Thursday. The market will also pay attention to Thursday\u2019s Euro Area inflation rate for October and the US Core PCE price index, as traders try to chart the path forward for interest rates in the coming months.<\/p>\n\n\n\n

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Silver prices made a more convincing move higher on Tuesday, building on Monday\u2019s moderate gains, as gold pushed up to set yet another all-time high. Prices climbed to an intraday high of $34.59 an ounce on Tuesday, up from around $33.70 an ounce in late trades on Monday. The strength at the start of the […]<\/p>\n","protected":false},"author":50,"featured_media":139079,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-139048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Price News: Silver Pulled Higher As Gold Hits New Peaks | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver price news analysis for today, Wednesday 30th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Price News: Silver Pulled Higher As 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