Silver Price Forecast: XAG/USD Rises to Near $33.00

Spot Silver Gains on China Stimulus Plans

Spot Silver prices traded near $32 per ounce on Tuesday, staying close to one-month highs as Chinese policymakers unveiled plans for additional economic stimulus, boosting the demand outlook in the world’s top metals consumer.

READ MORE…

Spot Silver Loses Grip Below $31.50

The Spot silver price drifts lower to around $31.20, snapping the two-day winning streak during the early European session on Thursday. The cautious stance on cutting rates by the Federal Reserve (Fed) weighs on the white metal. 

READ MORE…

Silver Price Forecast: XAG/USD Rises to Near $33.00

Silver net speculative longs at four and half year high

Precious metals speculators yet again increased their net long positions in the Silver (XAG/USD) futures markets sharply last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators, hedge funds and retailers, totaled a net position of 62198 contracts in the data reported through September 24, 2024. This was a weekly gain of 4000 net contracts and took net longs to four and half year high.

READ MORE…