EFUND GOLD MI-U(09824.HK)

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EFUND GOLD MI-U

09824.HK

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News

Silver slides as stronger dollar pressures precious metals after historic market turmoil

Silver prices dropped significantly during Asian trading, falling 17% after a brief rise above $90 an ounce. Currently, silver is trading around $77.01, down over a third from its January high. Gold also struggled to maintain gains due to a stronger dollar impacting investor interest. Analysts suggest that any price recovery may depend on demand from the Chinese market, especially ahead of the Lunar New Year, while geopolitical tensions in the Middle East have not provided enough buying momentum.

MSN·1 Hours ago

The central bank bonanza returns in European trading today

The European trading session today features key central bank decisions, with the BOE expected to maintain its rate at 3.75% and the ECB likely to keep its monetary policy unchanged. Traders anticipate future rate cuts from the BOE, while the ECB is not expected to change rates until 2026. Precious metals like gold and silver face challenges after recent price fluctuations. Additionally, US job data releases are delayed, and tech shares are under scrutiny, with the Nasdaq breaking below its 100-day moving average. Bitcoin is also experiencing significant pressure, falling below $72,000.

Investinglive·1 Hours ago

Investinglive·1 Hours ago

Gold fell by as much as 3.5% this morning, while silver plummeted by 16% | Lianhe Zaobao

Silver prices plummeted significantly, falling over 16%, while gold prices declined by as much as 3.5%. Spot silver experienced a sharp drop in the early morning of February 5, briefly recovering to above $90 per ounce, but then fell again. Market sentiment weakened, affecting most asset classes, including regional stock markets and metal markets, highlighting the fragility of market sentiment. Analysts pointed out that metal prices will remain highly volatile until the outlook for monetary policy becomes clearer

Zaobao·1 Hours ago

Hindustan Zinc, Vedanta, NALCO, other metal stocks tumble up to 7%: Here are 3 reasons

Metal stocks, including Hindustan Zinc and Vedanta, fell sharply on February 5, with the Nifty Metal index dropping nearly 3%. Key reasons for the decline include profit booking after a recent gain, a stronger US dollar impacting demand and prices, and a significant drop in precious metal prices, with gold and silver futures falling around 3% and 6%, respectively. This downturn follows a three-day gaining streak for the index, which had risen over 6% prior to this drop.

Money Control·2 Hours ago

Money Control·2 Hours ago

PRECIOUS-Gold, silver fall as dollar strengthens amid broad market sell-off

Gold and silver prices fell sharply amid a broader market sell-off, with spot silver down 14% and gold dropping nearly 2%. The dollar strengthened to a near two-week high, making gold more expensive for other currency holders. Concerns over AI investment costs affected the tech sector, leading to a decline in Asia stocks. Spot platinum and palladium also saw significant drops. Geopolitical developments, including U.S.-Iran talks and potential Chinese soybean purchases, added to market pressures.

Reuters·2 Hours ago