Gold and silver have rallied recently after a period of selling pressure, but analysts are divided on their path back to all-time highs. ING attributes gains to bargain hunting, while Bank of America warns of further gold deterioration. UBS is skeptical of a silver rebound, but Hycroft Mining's CEO remains bullish on fundamentals.
Precious metals are expected to remain under pressure due to geopolitical uncertainty in the Middle East, upcoming inflation data, and economic indicators influencing global interest rates. The US-Iran conflict, rising oil prices, and a stronger dollar are key factors.
A Special Investigation Team (SIT) is auditing over Rs 124 crore spent by the Ram Temple Trust on major events, including the Jan 2024 consecration ceremony and Nov 2025 flag-hoisting. The probe scrutinizes financial records to ensure funds were utilized per Trust procedures.
Former South Korean first lady Kim Keon-hee, already imprisoned for corruption, received an additional seven-year sentence for accepting "high-value precious metals" in exchange for favors in personnel appointments, with the court highlighting the rarity of such valuables.
Global markets saw a rebound Wednesday after a tech selloff on Tuesday. South Korea's Kospi jumped over 3% after a 10% plunge, while Asia's tech stocks recovered. MSCI kept South Korea as an emerging market, citing currency convertibility, and Indonesia faces downgrade risks.
Gold and silver prices dropped significantly on Tuesday, impacted by a broad sell-off in tech stocks driven by concerns over rising interest rates. The precious metals market is also facing pressure from a hawkish Federal Reserve stance and revised price forecasts from major banks.
Futures prices for platinum, palladium, gold, and silver saw significant gains on the New York Mercantile Exchange (NYMEX) and Comex. Palladium futures were up 3.14%, platinum futures gained 3.43%, gold futures rose 2.31%, and silver futures increased by 3.39% as of 10:30 a.m. Moscow time.
Gold and silver prices dropped significantly on Wednesday due to concerns over inflation and the Federal Reserve's interest rate policy. Experts suggest that a shift from safe-haven demand to rate expectations, coupled with rising real yields, is pressuring precious metals.
Bloomberg Economics estimates the RBI sold $12 billion in gold in two weeks ending May 22 to protect foreign exchange reserves amid rising energy costs and currency pressure due to the US-Iran conflict.
Montana is considering relaxing 30-year-old restrictions on precious metals mining as the industry experiences a resurgence in the U.S. The move could signal a shift in environmental regulations for mining operations.
Palladium, platinum, gold, and silver futures prices rose by 0.17% to 4.16% on NYMEX and Comex as of 6:12 p.m. Moscow time (3:12 p.m. GMT) on May 13.
Gold and silver prices are expected to trade within a narrow band this week, with investors closely watching US-Iran peace talks and key global economic data. Analysts noted that while gold's momentum appears steady, silver shows positive movement. Geopolitical tensions and central bank buying are also influencing precious metal markets.
Gold and silver price prediction today: Gold and silver prices may continue to rise, with both precious metals exhibiting a bullish bias, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group.
Residents of Hong Kong's Wang Fuk Court return to homes damaged in November's deadly fire that killed 168 people. Under a government scheme ending Monday, each household has just three hours to retrieve belongings. One resident, Cecilia, faces losing family treasures, precious metals and antique furniture from her upper-floor flat.
A UN report has found that critical minerals extraction for batteries and microchips is causing severe environmental damage and public health crises in Africa and Latin America. Researchers found 456bn litres of water were used to extract 240,000 tonnes of lithium in 2024, while 700m tonnes of waste were generated by global rare-earth production. In the Democratic Republic of Congo, 64% of people lack basic water access and 72% near mining sites report skin diseases. The lithium triangle in Latin America is also suffering as Indigenous communities face water scarcity. The report warns production must increase ninefold by 2040, calling for mandatory international due-diligence standards.
Gold and silver futures declined on the Multi Commodity Exchange in a holiday-shortened trading week, with gold falling 1.23% to Rs 1.54 lakh per 10 grams and silver dropping 4.9% to Rs 2.44 lakh per kg. Analysts cited profit-taking after recent gains, a strong US dollar, and higher Treasury yields as key pressure factors. Markets await the Federal Reserve's April 29 FOMC meeting and progress in US-Iran peace talks, which could impact oil prices and safe-haven demand for precious metals.
The Election Commission has seized over Rs 1,072 crore in cash, liquor, drugs, and freebies in West Bengal and Tamil Nadu to prevent voter influence during ongoing elections. Extensive surveillance teams have been deployed to ensure compliance with the Model Code of Conduct.
Precious metals futures declined 1.47-3.49% on NYMEX and COMEX, with palladium falling 3.49% to $1,545 per troy ounce and platinum down 2.7% to $2,083.9/oz. Gold futures dropped 1.47% to $4,808/oz while silver fell 3.18% to $79.24/oz. The decline is linked to Middle East tensions following US-Israel operation against Iran launched February 28, with a failed ceasefire and ongoing naval blockade adding to market uncertainty.
