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On December 15th, Commerzbank stated that spot silver hit a record high last Friday, with a year-to-date gain exceeding 120%, meaning silver is on track for its largest annual gain since 1979. The gold-silver ratio also briefly fell below 67, reaching its lowest level since June 2021, only slightly above the average of the past 50 years. The strength in silver is mainly due to global exchange-traded silver inventories falling to near-decade lows and increased ETF holdings; according to Bloomberg data, silver ETF holdings increased by 1,145 tons in one month. Silvers rise has been excessive and caution is warranted. However, from a long-term perspective, the fundamental outlook for silver remains optimistic. Previously, the World Silver Institutes demand report indicated that demand for silver used in photovoltaics, electric vehicles, and data center/artificial intelligence sectors will see significant growth in the coming years.On December 15th, Bainaqiancheng announced that it is planning to issue shares and pay cash to acquire assets, and also intends to raise supporting funds. Due to uncertainties surrounding the matter, and in order to protect the interests of investors and avoid significant impact on the companys securities trading, in accordance with the relevant regulations of the Shenzhen Stock Exchange, and upon the companys application, trading in the companys shares will be suspended from the opening of the market on December 16, 2025.On December 15th, Cambricon announced that its third board of directors held its first meeting on November 28th, 2025, and its second extraordinary shareholders meeting on December 15th, 2025, respectively, and approved the "Proposal on Using Capital Reserve to Offset Losses." The company plans to use RMB 2,778,372,367.65 of the parent companys capital reserve to offset the parent companys accumulated losses. This use of capital reserve to offset losses is limited to reducing the parent companys retained earnings at the end of 2024 to zero.Airbus: The helicopter (order) is part of a contract signed in December 2023.US documents show that the US demanded that the EU commit to not imposing penalties if the US oil and gas industry violates methane regulations.

During the Fed's "Silence," gold maintains a delicate dance

Aria Thomas

Jul 19, 2022 10:28

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A few dollars here, a few dollars there: gold maintained its delicate dance on Monday, climbing little despite the Federal Reserve's utter silence following two weeks of relative hubbub over the possibility of a major rate increase in July.


Gold bulls and bears were left to choose their next moves on their own, as the central bank adhered to its regular 'blackout' period for comments before its rate announcement on July 27.


A week of relatively sparse U.S. economic data offered traders greater control over market flows.


Despite the insignificance of the climb itself, the Dollar Index's steepest one-day loss since mid-June helped establish the direction in favor of longs.


The most commonly traded gold futures contract on the New York Comex, August, finished at $1,710.20 per ounce, up $6.60, or 0.5 percent.


Thursday's price of $1,695 for the August gold contract was the lowest level in 27 months.


The U.S. gold standard has dropped for five straight weeks, shedding 9% in total. It has declined by 7 percent year-to-date.


Since the Consumer Price Index for the year to June hit a new four-decade high of 9.1 percent on Wednesday, rate betting has been unpredictable, with the pendulum swinging between an unusual hike of 100 basis points for July and the wider consensus of a 75 basis point increase.


Prior to Monday, the dollar had also repeatedly reached two-decade highs, dealing a severe blow to non-dollar consumer oil demand.


Ed Moya, an analyst at the online trading platform OANDA, said, "The dollar is falling to begin the trading week, but this may not be the high." "As a result, gold may have difficulty surpassing $1,750," he added.


According to Sunil Kumar Dixit, the chief technical strategist at skchart.com, if gold is able to break out over $1745 it might proceed to $1770-$1800 and $1815 from there.


"As a previous safe haven, gold is not yet out of the woods, and its doors remain open for another slide below $1,700, this time targeting $1683, $1,666, and $1,652," Dixit added.

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