{"id":134046,"date":"2024-10-07T08:23:00","date_gmt":"2024-10-07T08:23:00","guid":{"rendered":"https:\/\/kinesis.money\/?p=134046"},"modified":"2024-10-07T08:23:00","modified_gmt":"2024-10-07T08:23:00","slug":"silver-posts-steady-gains","status":"publish","type":"post","link":"https:\/\/kinesis.money\/tr\/market-analysis\/silver-news\/silver-posts-steady-gains\/","title":{"rendered":"Silver Price News: Silver Posts Steady Gains Through Week"},"content":{"rendered":"\n

Silver prices made modest gains on Friday to close out a slightly bullish week for the metal overall, as the market remains supported by falling interest rates and safe-haven demand.<\/p>\n\n\n\n

Prices briefly spiked as high as $33.06 an ounce<\/a> on Friday, although this level did not represent repeatable trade, and prices fell back to around $32.27 an ounce later in the session. That compared with around $32.08 an ounce in late trades on Thursday.<\/p>\n\n\n\n

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KAG\/USD 1-hourly Kinesis Exchange<\/figcaption><\/figure>\n\n\n\n

Silver posted gains of around 2% across the week as a whole.<\/p>\n\n\n\n

The brief spike above $33.00 an ounce on Friday perhaps suggests silver is gunning for higher ground, and the overall strength last week follows silver\u2019s 12-year high of $32.75 an ounce on September 26.<\/p>\n\n\n\n

Silver\u2019s role as a precious metal means it is benefiting from the start of an interest rate-cutting cycle in the major economies as well as through its safe haven status during times of geopolitical tensions.<\/p>\n\n\n\n

But silver is also an industrial metal, and it stands to gain from secular trends — such as the transition to cleaner energy, through applications such as solar panels, battery storage, electrical circuits and AI-based computer systems.<\/p>\n\n\n\n

Silver is set to face a global structural supply deficit of well over 200 million ounces in 2024, according to a forecast from industry group the Silver Institute: SILVER SUPPLY & DEMAND | (silverinstitute.org)<\/a>. If borne out, that would be the fourth consecutive year in which silver\u2019s supply has fallen short of demand.<\/p>\n\n\n\n

Looking ahead, the markets will be watching out for speeches by several US Fed officials on Monday and Tuesday, while German industrial production figures due out Tuesday are expected to provide a slightly better reading in August following a sharp 2.4% contraction in July.<\/p>\n\n\n\t\t\t

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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 modest gains on Friday to close out a slightly bullish week for the metal overall, as the market remains supported by falling interest rates and safe-haven demand.<\/p>\n","protected":false},"author":50,"featured_media":134107,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[91,214],"tags":[],"class_list":["post-134046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver Posts Steady Gains Through Week | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver price news analysis for today, Monday 7th 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\" 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