Remove the Pressure. See What Remains.
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Remove the Pressure. See What Remains.
Dear investor.
Gold at $4,046 today. Silver at $51.99. October applied three kinds of pressure to precious metals: rising yields, oil related inflation fears and forced selling tied to losses in technology stocks. This morning, after Democrats won control of both chambers of Congress in the November 3 midterm elections, the dollar slipped to a one month low and yields fell. Gold gained nearly 3% and silver more than 4% in a single morning.
Speed like that says something. When pressure lifts, even briefly, the metal responds immediately, which suggests the demand underneath is still there.
The data supports that reading. Central banks bought 321 tonnes in the third quarter, according to the World Gold Council, the highest quarterly total since late 2024. Physical bar and coin investment for the first nine months of the year is the strongest since 2013, with China setting a record for the period. Commerzbank summarized the view this week: the arguments in favor of a rising gold price remain valid.
Silver, the faster mover of the two, is back above $50 and ahead of gold on the day. Its supply deficit, now in a sixth consecutive year, does not depend on one morning’s move.
Pressure will come and go. What sits underneath is what IMG follows.
Contact IMG today and let us help you read what sits underneath
Contact IMG today.
Much success to all.
Disclaimer.
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