{"id":137924,"date":"2024-10-21T09:03:01","date_gmt":"2024-10-21T09:03:01","guid":{"rendered":"https:\/\/kinesis.money\/?p=137924"},"modified":"2024-10-21T09:03:05","modified_gmt":"2024-10-21T09:03:05","slug":"silver-hits-12-year-high","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/silver-news\/silver-hits-12-year-high\/","title":{"rendered":"Silver Price News: Silver Hits 12-Year High as Gold Leads the Way"},"content":{"rendered":"\n

Silver prices surged on Friday, capping a bullish week for the precious metal, as gold pushed into new territory on the upside.<\/p>\n\n\n\n

Silver prices rallied as high as $34.11 an ounce on Friday \u2013 the highest price since October 2012 \u2013 before easing slightly to $33.74 later in the session. That compared with around $31.80 an ounce in late trades on Thursday.<\/p>\n\n\n\n

Silver\u2019s surge at the end of the week followed a rather lacklustre few days, with the metal trading sideways from Monday to Thursday, showing little impetus to move in either direction.<\/p>\n\n\n

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\"silver
Silver KAG\/USD – 1-year view – Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Silver plays catch-up with gold<\/h2>\n\n\n\n

The grey metal appeared to show a delayed reaction on Friday to gold\u2019s surge to an all-time high on Thursday, with both precious metals taking support from falling interest rates and safe haven demand. The ECB\u2019s 25-basis point cut to interest rates on Thursday came as inflation in the Eurozone fell below the 2% target in September.<\/p>\n\n\n\n

Supportive backdrop for silver<\/h2>\n\n\n\n

Silver prices also took support from ongoing geopolitical tensions in the Middle East and Ukraine, and uncertainty ahead of the November 5 US elections, with recent polls suggesting a tight race between Republican candidate Donald Trump and Democratic candidate Kamala Harris.<\/p>\n\n\n\n

Russia\u2019s central bank set to acquire silver<\/h2>\n\n\n\n

Elsewhere, Russia\u2019s draft federal budget for the coming year includes plans for the country\u2019s central bank to acquire silver for part of its reserves for the first time, according to recent news reports. The move could represent additional demand for the metal, contributing to stronger prices in the coming months, particularly if it becomes a wider trend among other central banks.<\/p>\n\n\n\n

Silver technical analysis<\/h2>\n\n\n\n

On the technical charts, silver\u2019s surge on Friday shows that the precious metal has not only broken through horizontal resistance at $32.55 an ounce, linked to recent price peaks in May, but also the upper boundary of a two-month rising trend channel at $33.47 an ounce. There is little to stop silver\u2019s upward march if gold continues to set new highs, but any downside from here would likely mean recent resistance at $32.55 an ounce could be viewed as a new support level.<\/p>\n\n\n\n

Events to keep an eye on<\/h2>\n\n\n\n

Monday will see speeches by several US Fed officials, while Tuesday will see a speech by ECB President Christine Lagarde, both of which may be of interest for gauging the path forward for interest rates as central banks seek to reduce the cost of borrowing.<\/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>
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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 surged on Friday, capping a bullish week […]<\/p>\n","protected":false},"author":50,"featured_media":137972,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-137924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Price News: Silver Hits 12-Year High as Gold Leads the Way - Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver price news analysis for today, Monday 21st 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=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Price News: Silver Hits 12-Year High as Gold Leads the Way\" \/>\n<meta property=\"og:description\" content=\"Discover Kinesis' silver price news analysis for today, Monday 21st of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-hits-12-year-high\/\" \/>\n<meta property=\"og:site_name\" content=\"Kinesis\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-21T09:03:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-21T09:03:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/10\/silver-news-feature-silver-hits-12-year-high-as-gold-leads-the-way.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"529\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Frank Watson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Discover Kinesis' silver price news analysis for today, Monday 21st of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"twitter:label1\" content=\"\u4f5c\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"Frank Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9884\u8ba1\u9605\u8bfb\u65f6\u95f4\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-hits-12-year-high\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-hits-12-year-high\\\/\"},\"author\":{\"name\":\"Frank Watson\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/#\\\/schema\\\/person\\\/11c4884f9d074d6831f53e287228bf52\"},\"headline\":\"Silver Price News: Silver Hits 12-Year High as Gold Leads the Way\",\"datePublished\":\"2024-10-21T09:03:01+00:00\",\"dateModified\":\"2024-10-21T09:03:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-hits-12-year-high\\\/\"},\"wordCount\":423,\"image\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-hits-12-year-high\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/kinesis.money\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/silver-news-feature-silver-hits-12-year-high-as-gold-leads-the-way.jpg\",\"articleSection\":[\"Silver News\"],\"inLanguage\":\"zh-Hans\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-hits-12-year-high\\\/\",\"url\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-hits-12-year-high\\\/\",\"name\":\"Silver Price News: Silver Hits 12-Year High as Gold Leads the Way - 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