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Contents
Morning Rundown:
Macro-Economics/Commodities:
Geopolitics/Elections:
Founders:
GOLDFIX Intraday Chat
Market Recap:
Morning Rundown:
Macro-Economics/Commodities:
Geopolitics:
Founders:
GOLDFIX Intraday Chat:
Community comments and insights…
Market Recap:
Gold Surges as Silver Skips a Beat
Gold and silver posted a slight divergence today, with bullion extending gains late in the day while silver surrendered its morning lead.
Silver outpaced gold early, jumping sharply despite weakness in copper and oil. By mid-morning, the metal spiked to fresh intraday highs and looked poised to outperform. But selling pressure soon emerged. Traders appeared to rotate out of silver and into gold, with positioning reflecting concerns tied more to macroeconomic risks than to industrial demand.
Silver gave back much of its advance, settling up 36 cents at $41.19, far below its morning peak. Gold, meanwhile, strengthened through the afternoon, climbing as late as 2 p.m. and finishing up $31 at $3,564. The metal attracted steady buying even as silver stalled, highlighting its role as the preferred safe-haven trade of the day.
ETF flows underscored the shift. U.S. gold exchange-traded funds registered another surge of inflows, enough to erase the liquidations seen in June 2023. The replenished holdings mark a significant milestone for institutional demand, with bullion products now back to levels before last year’s sell-off.
The day’s action reflects a broader theme across precious metals: silver remains tethered to industrial weakness, while gold continues to benefit from investor hedging against macro uncertainty. Traders will be watching whether today’s rotation is a one-off or the start of a more durable trend in positioning.
Goldman Notes GLD ETF flows were massive…