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Silver price today: Silver falls, according to FXStreet data

The Aussie enters this week with genuine hawkish backing. RBA Assistant Governor Christopher Kent reaffirmed that tighter policy is working as intended, with markets now pricing roughly a 70% chance of one final hike to 4.60% by early next year, even as inflation eased below forecasts last quarter. That combination of commodity strength, gold, iron ore and LNG all running above forecast, and a still-hawkish central bank has kept AUD broadly supported near multi-week highs, with all eyes now on Thursday’s July employment report.

The loonie tells an even stronger story. Canada’s economy expanded at a blistering 3.4% annualised pace in Q2, well above the Bank of Canada’s own 2.5% forecast, while July employment surged by 75,100 jobs against expectations of just 15,000, pulling unemployment down to a two-year low of 6.4%. That combination of surprising growth and labour market strength has fuelled speculation the BoC could hike if elevated energy prices persist, giving CAD real independent momentum of its own.

The result: two resource-linked currencies both riding genuinely hawkish narratives, leaving AUD/CAD’s next move to hinge on which central bank blinks first.

Technical Analysis of AUD/CAD

As the chart shows, AUD/CAD has been compressing into a symmetrical triangle since early August, with a descending trendline from the 0.9926 high converging with an ascending trendline off the 0.9748 low, both meeting right around current price near 0.9847, exactly where the 100-period EMA also sits.

Bullish Scenario

Should buyers break above the descending trendline and the 0.382 retracement near 0.9858, the path would open towards the 0 level at 0.9926, a confirmed breakout that would suggest genuine momentum returning to the pair.

Bearish Scenario

Conversely, a break below the ascending trendline and the 0.5 retracement near 0.9837 would expose the 0.618 level near 0.9816, with a deeper slide risking a retest of the 0.786 retracement around 0.9786, or even the 0.9748 low that anchored this entire structure.With price coiled right at the apex of this triangle, sitting exactly on the 100-period EMA, AUD/CAD looks primed for a decisive break, will the Aussie’s hawkish backing prove enough, or does the loonie’s stronger data ultimately win out?

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Euro: Overvaluation and energy risks weigh against US Dollar – MUFG

Gold dipped below 4,400 USD per ounce on Tuesday, reversing earlier gains. Pressure on the metal intensified amid a broader correction in the metals market and profit-taking following a strong rally.

An additional negative factor was the rise in oil prices, which once again heightened inflation risks and concerns over interest rates.

The geopolitical backdrop also remains tense. Prospects for a new US-Iran agreement deteriorated after Donald Trump announced that he was not interested in extending the interim peace deal.

At the same time, gold continues to draw support from diminished expectations of Federal Reserve tightening, following a series of weak US economic data. Markets are now primarily pricing in a rate hold in September, with a hike by year-end no longer fully priced in-a marked shift from just a week ago.

Additional support for the metal is coming from investment demand and central bank purchases, particularly from China.

Technical Analysis

On the H4 XAU/USD chart, the market formed a consolidation range around the 4,370 USD level and, with an upside breakout, completed a growth wave to 4,435 USD. A consolidation range is now forming below this level. A downside move and decline to 4,370 USD is expected, with a possible extension to 4,340 USD. Further growth to 4,516 USD is anticipated as a local target. The MACD indicator confirms the beginning of short-term downside momentum, with its signal line above the centre line and bracing for further lows.

On the H1 chart, the market broke above the 4,372 USD level and completed a growth wave structure to 4,434 USD, followed by a correction to test 4,372 USD from above. A broad consolidation range is practically forming around 4,372 USD. A range expansion up to 4,516 USD is expected, followed by a decline to 4,444 USD. The Stochastic oscillator confirms this scenario, with its signal line remaining below the 20 level and pointing strictly upwards to 80.

Conclusion Gold’s outlook has become more complex as the metal retreats from recent highs amid profit-taking and a broader metals market correction. Rising oil prices have rekindled inflation concerns, while geopolitical tensions have worsened following Trump’s rejection of an extended US-Iran peace deal. However, support remains from diminished Fed tightening expectations after weak US data, with markets no longer fully pricing a hike by year-end. Central bank buying, particularly from China, continues to underpin demand. Technically, gold may see further short-term downside towards 4,340–4,370 USD before potentially resuming its uptrend towards 4,516 USD. The metal’s direction will hinge on US economic data, geopolitical developments, and signals from the Federal Reserve.

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Gold is stuck in a five day sideways range from 4310 to 4449 [Video]

The British Pound (GBP) edges higher against the Japanese Yen (JPY) on Tuesday and extends gains for the third consecutive day, despite the mixed UK employment figures seen earlier on the day. The GBP/JPY pair is trading at 216.00 at the time of writing, with bulls focused on the July 31 high of 216.36.

UK data released earlier on Tuesday revealed that the ILO Unemployment Rate remained steady at 4.9% in the three months to June, against expectations of a slight decline to 4.8%. Employment growth slowed down, but the number of claimants fell unexpectedly, while wage inflation ticked up.

The Yen remains on the back foot after Japanese Gross Domestic Product (GDP) figures, released on Monday, revealed that economic growth slowed down in the second quarter, which will likely hamper the Bank of Japan’s plans to accelerate its monetary tightening cycle.

Technical Analysis: Bulls remain in control, with RSI nearing overbought levels

GBP/JPY trades at 216.05, maintaining a bullish near-term bias after rallying more than 3% from August 2 lows. The Relative Strength Index (14), however, is nearing overbought territory, suggesting that the rally might be overstretched. Beyond that, the Moving Average Convergence Divergence (MACD) indicator has flattened around the zero line, hinting that the latest advance is losing incremental conviction.

On the topside, a breach of the mentioned 216.35 resistance area would expose a previous support between 217.16 (July 29 low) and 217.53 (Jul 21 low), ahead of the July 30 high, near 218.70.

On the downside, a bearish reversal would find support at Monday's low at 215.41, followed by the August 12 low at 214.53 and the August 6 and 7 highs at the 213.230 area.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Japanese Yen Price Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHFUSD0.05%0.11%0.16%-0.07%0.02%0.42%-0.00%EUR-0.05%0.07%0.15%-0.11%-0.02%0.38%-0.04%GBP-0.11%-0.07%0.04%-0.17%-0.10%0.32%-0.11%JPY-0.16%-0.15%-0.04%-0.22%-0.14%0.26%-0.16%CAD0.07%0.11%0.17%0.22%0.08%0.49%0.06%AUD-0.02%0.02%0.10%0.14%-0.08%0.40%-0.01%NZD-0.42%-0.38%-0.32%-0.26%-0.49%-0.40%-0.41%CHF0.00%0.04%0.11%0.16%-0.06%0.01%0.41% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

Silver Price Forecast: XAG/USD remains sideways around $65, FOMC takes centre stage

Pound-Canadian Dollar could regain ground if UK jobs data beats forecasts, although firmer oil prices may keep the Loonie supported. The Pound to Canadian Dollar (GBP/CAD) exchange rate held in a narrow range on Monday as investors were seemingly unfazed by Canada's latest inflation figures.

At the time of writing, the GBP/CAD exchange rate was trading at CA$1.8845. Down roughly 0.2% from the start of Monday’s session.

Latest — Exchange Rates:

Pound to Canadian Dollar (GBP/CAD): 1.880949 (+0.17%)

Euro to Canadian Dollar (EUR/CAD): 1.607285 (+0.12%)

Dollar to Canadian Dollar (USD/CAD): 1.38694 (-0.04%)

DAILY RECAP:

The Canadian dollar (CAD) was rangebound at the start of this week, following the release of Canada's latest consumer price index.

According to data published by Statistics Canada, Canadian inflation accelerated from 2.8% to 3% in July, outpacing forecasts it would only rise to 2.9%.

Core inflation also rose above forecasts as it climbed from 2.1% to 2.3% over the same period.

The rise in Canadian CPI was primarily attributed to energy prices, with prices at the fuel pump rising 25% year-on-year due to the ongoing disruption to shipping through the Strait of Hormuz.

However, the 'Loonie' struggled to build any support off of the inflation data as analysts suggested the acceleration in price growth is unlikely to move the needle regarding a potential Bank of Canada (BoC) interest rate hike later in the year.

The Pound (GBP) traded sideways against the majority of its peers on Monday, as GBP investors braced themselves for a run of high-impact UK economic data being published over the coming week.

The UK's latest inflation and employment releases are likely to prove the most influential of this glut of data as they are seen as the most likely to shape Bank of England (BoE) monetary policy in the coming months.

If this data points to a resilient UK economy, it will likely harden BoE rate hike bets and strengthen Sterling sentiment.

However, if the data is not strong enough to support current BoE policy expectations, the Pound could face significant headwinds.

Near-Term GBP/CAD Forecast: can UK jobs data give Sterling a lift? Looking ahead, the Pound to Canadian Dollar (GBP/CAD) exchange rate may strengthen on Tuesday as the UK data deluge is kicked off with the publication of the UK's latest jobs report.

June's data is expected to report a welcome fall in unemployment, amid an uptick in employment growth.

However, the accompanying earnings data may ultimately cap any resulting upside potential in the Pound, as falling wage growth may ease pressure on the BoE to tighten monetary policy.

Meanwhile, movement in the 'Loonie' may be tied to oil prices on Tuesday, with CAD exchange rates likely to strengthen if Brent crude rises back toward $90 per barrel.

Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report that EUR/USD briefly broke above major resistance at 1.1610 to 1.1614 before fading, leaving the Euro in a near-term consolidation between 1.1560 and 1.1600. The 1–3 week outlook remains positive, but the pair must break and hold above 1.1615 to open 1.1655, with strong support anchored at 1.1525.

Euro consolidates after failed breakout"24-HOUR VIEW: EUR rose sharply to a high of 1.1585 last Friday. Yesterday, we indicated that “the rapid rise appears to be running ahead of itself, but as long as 1.1545 (minor support is at 1.1555) is not breached, EUR could rise to 1.1590.” We added, “based on the prevailing momentum, a sustained rise above this level appears unlikely, and the major resistance at 1.1610 is unlikely to come under threat.” While EUR held above 1.1545 (low was 1.1558), it broke above 1.1610, reaching a high of 1.1614. However, EUR was unable to hold on to its gains, as it retreated to close little changed at 1.1579 (+0.09%). EUR appears to have entered a consolidation phase. Today, we expect EUR to trade between 1.1560 and 1.1600."

"1-3 WEEKS VIEW: We revised our EUR view from neutral to positive yesterday (17 Aug, spot at 1.1570). We highlighted the following: “The price action suggests that EUR is likely to trade with an upside bias from here. Currently, it is unclear whether EUR has sufficient momentum to reach the major resistance at 1.1610. On the downside, a break below 1.1525 (‘strong support’ level) would indicate that EUR is likely to continue range-trading.” We did not expect EUR to rise sharply and briefly to 1.1614. While the upside bias remains intact, given that there is no significant increase in upward momentum, EUR must break and hold above 1.1615 before a move to 1.1655 can be expected. On the downside, the ‘strong support’ remains unchanged at 1.1525."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

Gold – Chart Gold is currently selling for $4,396 on the 4-hour chart, and although price is above the rising trendline that has been a recovery aid for August, it is currently trading in the middle of a sideways consolidation. Price is comfortably trading above the 50-EMA, which is around $4,341, as well as the 100-EMA, which is around $4,266. The recent price action shows consolidation around the resistance area of $4,448, after a few price attempts to move higher. A rebound from the rising trendline shows that bulls are stepping in to buy the dips.

An RSI around the 53 level is neutral to slightly positive and may show another bullish continuation. Resistance sits at $4,448 and $4,518, and above that sits $4,596. The first support sits around $4,333, and after that it comes in at $4,262 and $4,205.

In my opinion, gold is going to remain bullish as long as it’s trading above $4,333 and the rising trendline. A break above $4,448 may result in further bullish continuation to $4,518, and if $4,333 is lost, this may result in a deeper bearish move.

Silver Technical Analysis: XAG/USD Tests Rising Channel Support Near $65.00

Saudi Arabia Gold price today: Gold falls, according to FXStreet data

Gold prices fell in United Arab Emirates on Tuesday, according to data compiled by FXStreet.

The price for Gold stood at 518.65 United Arab Emirates Dirhams (AED) per gram, down compared with the AED 521.49 it cost on Monday.

The price for Gold decreased to AED 6,049.44 per tola from AED 6,082.60 per tola a day earlier.

Unit measure

Gold Price in AED

1 Gram

518.65

10 Grams

5,186.50

Tola

6,049.44

Troy Ounce

16,131.71

FXStreet calculates Gold prices in United Arab Emirates by adapting international prices (USD/AED) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.

Gold FAQs

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

(An automation tool was used in creating this post.)

EUR/JPY extends its winning streak for the fourth successive day, trading around 184.80 during the Asian hours on Tuesday. The technical analysis of a daily chart indicates that the spot is remaining within a rising wedge, signaling that an upward trend is losing momentum and typically acts as a bearish reversal.

The EUR/JPY cross holds above both the 50-period and nine-period Exponential Moving Averages (EMAs), which keeps the near-term bias constructive. The clustering of price just over these short- and medium-term EMAs suggests ongoing demand on dips, while the 14-day Relative Strength Index (RSI) around 52.89 stays in neutral territory with a mild bullish tilt, hinting that upside momentum is steady rather than stretched.

The EUR/JPY cross is positioned slightly above the 50-day EMA at 184.52, followed by the lower boundary of the rising wedge around 184.60 and the nine-day EMA of 184.03. A decisive break below this confluence support zone would revive the bearish bias, potentially pressing the currency cross down toward its eight-month low of 179.37, recorded on August 3.

On the upside, the primary resistance lies at the upper boundary of the rising wedge around 186.10. A sustained break above the wedge could signal a broader bullish resurgence, opening the path for the currency cross to retest the area surrounding its all-time peak of 187.95 set on April 17.

EUR/JPY: Daily Chart(The technical analysis of this story was written with the help of an AI tool. Know more.)

Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHFUSD0.08%0.07%0.18%0.00%0.05%0.37%0.09%EUR-0.08%-0.01%0.11%-0.08%-0.03%0.29%0.04%GBP-0.07%0.00%0.09%-0.06%-0.02%0.32%0.04%JPY-0.18%-0.11%-0.09%-0.17%-0.12%0.20%-0.07%CAD0.00%0.08%0.06%0.17%0.05%0.37%0.10%AUD-0.05%0.03%0.02%0.12%-0.05%0.32%0.05%NZD-0.37%-0.29%-0.32%-0.20%-0.37%-0.32%-0.25%CHF-0.09%-0.04%-0.04%0.07%-0.10%-0.05%0.25% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Malaysia Gold price today: Gold falls, according to FXStreet data

AUD/JPY Price Forecast: Strengthens to near 113.50, near-term outlook remain constructive

Gold (XAU/USD) attracts some sellers following a modest Asian session uptick on Tuesday, stalling a two-day move higher from the $4,300 neighborhood. The US Dollar (USD) builds on the overnight bounce from a two-month trough as inflation risks stemming from higher crude oil prices underpin prospects for at least one interest rate hike by the US Federal Reserve (Fed) in 2026. Adding to this, the US-Iran standoff keeps the geopolitical risk premium in play and further underpins the safe-haven Greenback, which, in turn, is seen exerting pressure on the precious metal.

In the latest developments surrounding the Middle East crisis, US President Donald Trump said that Iran should surrender to end a nearly six-month-long war. Trump added that the US is not seeking an extension of the Memorandum of Understanding (MoU) with Iran, which expired on Monday. Furthermore, Trump repeated his idea of declaring the critical Strait of Hormuz as a US territory and warned that he would target Oman if it hindered actions to reopen the strategic waterway. This comes as the Iran-backed Houthi rebels in Yemen escalated their campaign against Saudi Arabia.

Houthi military spokesperson Yahya Saree said the group used several ballistic missiles to target a Saudi military landing ship and four accompanying patrol boats off the coast of Mokha. This could further disrupt commercial shipping traffic through the Bab al-Mandeb Strait – one of the world's most important trade routes – and fuel energy supply concerns, lifting crude oil prices to a two-week high. Investors remain worried that higher energy prices would rekindle inflationary pressures, which, along with hawkish Fed expectations, remain supportive of elevated US Treasury bond yields.

According to TD Securities, the Fed is likely to "remain on hold over our forecast horizon," with the policy stance anchored by the view that "inflation should remain high for the rest of the year" and that "the labor market has stabilized, allowing the FOMC to shift focus to its inflation mandate." The bank adds that, "if the Fed were to move this year, we believe that move is more likely to be a hike than a cut," noting that under "a new management that espouses a blurrier reaction function, data dependence will likely gain prominence for determining the path ahead for monetary policy."

This offsets last week's soft US inflation and Retail Sales data, which forced investors to scale back their bets for an imminent Fed rate hike. According to CME Group's FedWatch Tool, traders are assigning around a 64% chance that the US central bank will keep rates unchanged at the September 2026 meeting. Investors, however, are still pricing in a greater possibility that the Fed will raise borrowing costs at least once by the end of this year. The outlook helps revive demand for the Greenback and prompts some intraday selling around the non-yielding Gold, though the downside seems limited.

Traders might refrain from placing aggressive directional bets and opt to wait for more cues about the Fed's future policy path. Hence, the focus will remain glued to the release of FOMC Minutes on Wednesday, which will play a key role in influencing the near-term USD price dynamics and provide some meaningful impetus to the precious metal. In the meantime, the mixed fundamental backdrop warrants some caution before positioning for any further depreciation.

XAU/USD daily chart

Technical AnalysisFrom a technical perspective, the precious metal continues its struggle to find acceptance above the 50% retracement level of the April-June decline. Momentum indicators, however, stay constructive. In fact, the Relative Strength Index (RSI) at 63.47 holds in bullish territory, while the Moving Average Convergence Divergence (MACD) indicator remains positive, hinting that selling pressure is corrective rather than impulsive. However, it will still be prudent to wait for a move beyond last week's swing high, around $4,450, before positioning for further gains toward the 200-day Simple Moving Average (SMA) at $4,508.

On the downside, first support is seen at the 38.2% retracement at $4,302.33, with further demand expected at the 23.6% level at $4,164.44 and then around the structural floor anchored near $3,941.54, where buyers would likely attempt to arrest a deeper correction.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHFUSD0.04%0.02%0.03%-0.05%-0.07%0.15%0.03%EUR-0.04%-0.01%0.00%-0.08%-0.08%0.11%0.00%GBP-0.02%0.01%0.00%-0.07%-0.08%0.13%0.02%JPY-0.03%0.00%0.00%-0.08%-0.09%0.12%0.00%CAD0.05%0.08%0.07%0.08%-0.02%0.20%0.09%AUD0.07%0.08%0.08%0.09%0.02%0.21%0.10%NZD-0.15%-0.11%-0.13%-0.12%-0.20%-0.21%-0.10%CHF-0.03%-0.00%-0.02%-0.01%-0.09%-0.10%0.10% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Silver price (XAG/USD) declines after two days of gains, trading around $65.60 per troy ounce during the Asian hours on Tuesday. Silver prices fall as traders remain wary of potential inflation risks as prospects for a new diplomatic agreement between the US and Iran dimmed following statements from both sides.

US President Donald Trump indicated he was not interested in extending the interim peace deal, citing the ongoing naval blockade of Iranian ports as evidence of Washington's leverage and reiterating his proposal to declare the critical waterway as US territory under total American control. Iranian Foreign Ministry spokesman Esmail Baghaei asserted that an agreement remains elusive due to security complexities and the "obstructionist behavior of destructive elements," insisting that the US must first lift its blockade.

However, Silver prices could rebound amid fading expectations for further interest rate hikes by the Federal Reserve (Fed). A recent, unexpected decline in July US Nonfarm Payrolls, combined with last week's modest consumer price inflation data, has significantly reduced market anticipation of a monetary tightening next month.

Consequently, expectations for a Fed rate hike at the upcoming policy meeting have dropped to 35%, down from 47% a month earlier, according to the CME FedWatch Tool. Investors are now looking ahead to the release of the minutes from the Fed’s July meeting.

According to strategists at TD Securities, a confluence of macro factors has driven a notable repositioning in precious metals. They highlight that “the combination of modest inflation, a lackluster U.S. employment environment, little market concern that oil will have another major rally, along with prices moving convincingly into a higher trading range prompted money managers to aggressively increase their long gold exposure.” This backdrop, in their view, has encouraged investors to lean more heavily into Gold as prices establish themselves in a stronger trading band.

Technical Analysis:In the daily chart, XAG/USD trades at $65.60, holding a bullish near-term bias as price remains above both the nine-day and 50-day Exponential Moving Averages (EMAs). The alignment of the shorter EMA above the longer one reinforces a constructive trend tone, while the 14-day Relative Strength Index (RSI) at 60.51 stays in positive territory without yet signaling overbought conditions, suggesting room for further gains as long as the metal holds above these dynamic supports. The Fed Sentiment Index cooling toward 134.61 hints at a less aggressive policy backdrop for Silver.

On the downside, immediate support is located at the nine-day EMA at $64.27, followed by the 50-day EMA at $63.33, with a more distant structural floor at the horizontal line near $55.63. On the topside, the next notable barrier emerges at the horizontal resistance around $90.03, with the current configuration hinting that dips toward the clustered moving averages may attract buyers while that upper cap remains untested.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

PBOC sets USD/CNY reference rate at 6.7905 vs. 6.7873 previous

Gold gains momentum above $4,400 as softer US data dampens Fed hike odds

EUR/USD Price Forecast: Struggles at 1.1600, dives below 100-day SMA

Standard Chartered targets AUD/USD at 0.74 in three months and 0.75 in a year, with the RBA, China and commodities offering support. The Australian Dollar to US Dollar (AUD/USD) exchange rate is forecast to rise to 0.74 in three months and 0.75 over 12 months by Standard Chartered.

AUD/USD was trading near 0.7114 late on Monday, up about 0.42% on the day and 6.66% in 2026.

AUD/USD six-month closing-price chart with 20-day and 50-day moving averages. The RBA remains a key support “The RBA's decision to hold its official cash rate at 4.35% was accompanied by a hawkish policy message,” Standard Chartered said.

That message reinforces the prospect that Australian interest rates remain restrictive for longer, while Governor Michele Bullock has repeated that rates could rise again if required.

The bank also identifies a softer US Dollar, improving Chinese growth momentum and supportive commodity conditions as tailwinds for the Australian currency.

Gold supplies an additional, but explicitly secondary, signal.

Standard Chartered calculates that the correlation between XAU/USD and AUD/USD has risen to +0.82 over three months, compared with +0.59 over three years.

“The 0.23-point gap shows that gold and the AUD have moved much more closely together recently,” the report said.

That observation does not show that a higher gold price causes AUD/USD to rise.

Both markets can respond to the same forces, including the Dollar, global risk appetite and commodity demand.

Standard Chartered therefore cautions that “gold should still be treated as a supporting indicator rather than the primary AUD driver.”

The distinction keeps the forecast anchored in Australian and global macro conditions rather than a single cross-asset relationship.

Near-term price action is consistent with a constructive bias, but the distance to 0.74 remains meaningful.

From 0.7114, the three-month target requires a gain of roughly 4%, while the 0.75 one-year target implies an advance of just over 5%.

If gold's short-run correlation falls back towards its longer-term average, Standard Chartered's own framing suggests that would weaken a supporting signal rather than invalidate the entire forecast.

The one-year horizon also gives the bank more time for China and commodity demand to offset any short-lived change in the Dollar.

The first checkpoint is 0.74 in three months; reaching it requires the RBA and external demand to remain supportive even if the gold correlation normalises.

Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.

Gold fund flows have turned positive after months of outflows, while Goldman says private activity is becoming more closely tied to gold prices. Goldman Sachs says gold-fund flows have “picked up meaningfully after seeing net outflows for much of this year.”

Its analysis also finds that the relationship between fund activity and gold prices has strengthened since the start of 2025 as private-sector buying and selling increased.

Private buyers matter more than they did That observation describes a changing market structure; it is not a new Goldman price target and it does not prove that flows alone caused the latest move.

The Goldman series covers mutual funds and related investment products, so it measures one defined channel of demand rather than every physical, futures or official-sector transaction.

Gold was trading near $4,426.70 late on Monday, up about 1.26% on the day and more than 10% over one month.

Gold daily closing prices in US Dollars over three months, with 20-day and 50-day moving averages. The metal has still fallen over three and six months, making the renewed fund demand notable against a volatile recent path.

ERUK market data put gold's one-year gain near 33%, but its 2026 advance at only about 2.5%.

That contrast leaves long-term holders with substantial gains while showing why a renewed private-fund bid can matter after months of uneven momentum.

BofA's flow data corroborate the shift.

“Gold: $6.3bn inflow, biggest since Jan '26,” the bank reported, adding that precious-metals funds had received inflows for six consecutive weeks.

In the same weekly cross-asset tally, cash drew $25.4bn, bonds $23.8bn, stocks $16.1bn and crypto $0.3bn.

Gold therefore remained smaller than the main cash, bond and equity channels, but its inflow stood out against both crypto and its own recent history.

BofA measures the latest weekly surge; Goldman's analysis instead shows how private fund activity is becoming more closely associated with price.

The current rally offers an immediate test of whether that association persists.

The gold price advance in August has taken it above $4,400, while Monday's move put the market close to the month's high.

The stronger correlation is backward-looking, so it records how fund activity and prices have moved together rather than forecasting either direction.

The change is one of market participation, not a new price target.

Another large inflow would support the case for a lasting private-sector return; a reversal would leave the $6.3bn week looking like an August outlier.

Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.

Silver has experienced a wild ride in 2026, but The Silver Institute President and CEO Michael DiRienzo says investors shouldn’t let the volatility obscure a much bigger story: the underlying silver market remains remarkably strong.

DiRienzo joined Money Metals podcast host Mike Maharrey to discuss silver’s dramatic price swings, persistent supply deficits, industrial demand, solar energy, artificial intelligence, investment flows, and the metal’s expanding role in medicine.

His central message was straightforward. Silver is no longer the $13 or $15 metal investors remember from less than a decade ago. In DiRienzo’s view, the market has established substantially higher floors because silver is increasingly being valued for both its industrial utility and its investment potential.

From $121 Silver back to $65Silver surged to roughly $121 an ounce on January 29, 2026, before falling sharply alongside gold. By the morning of Maharrey’s interview with DiRienzo, silver was trading around $65 per ounce.

DiRienzo said the late-February outbreak of war in Iran put additional pressure on precious metals. Interestingly, he noted that gold and silver have tended to respond positively to announcements involving ceasefires or the reopening of the straits, suggesting the conflict has been weighing on the precious metals complex rather than providing the traditional geopolitical boost investors might expect.

But underneath the geopolitical turmoil, DiRienzo sees strong fundamentals.

He noted that just two years ago, predicting an average 2026 silver price above $72 to $75 per ounce would have sounded extraordinary. Yet the market has reached precisely that neighborhood this year.

Mining companies have also benefited substantially from higher prices. DiRienzo said second-quarter figures being reported by mining companies were broadly positive, including among Silver Institute members producing silver both as a primary product and as a byproduct.

Industrial demand remains a powerful forceIndustrial demand remains one of the most important pillars supporting silver.

The Silver Institute expects a small decline in industrial demand this year, driven in part by reduced silver consumption in photovoltaics. With silver prices elevated, solar manufacturers have an obvious incentive to reduce the amount of silver they use or substitute another material.

Doing so, however, isn't simple.

Silver has the highest electrical conductivity of any metal, and the process of screen-printing silver paste onto solar cells is already mature and highly efficient. Alternative materials and metallization technologies still face hurdles before they can compete with silver at scale.

Copper metallization exists, for example, but DiRienzo said it has yet to scale sufficiently to replace silver across the solar industry. For solar farms designed to operate for 25 years, manufacturers also have to consider silver's reliability, durability, and stability rather than simply its upfront cost.

Solar’s Silver appetite has explodedThe scale of silver consumption in solar has changed dramatically over the past decade.

DiRienzo said solar represented about 11% of total silver industrial demand in 2014. By 2024, its share had climbed to just under 30%, marking the peak year for silver consumption in solar to date.

The industry is now attempting to engineer some silver out of its cells as prices rise. But manufacturers were already trying to reduce silver consumption when the metal traded for only $13 per ounce.

As DiRienzo explained, manufacturers relentlessly pursue even tiny savings. Reducing costs by two, three, or four cents per solar cell can matter when production is measured in enormous volumes.

That means efforts to thrift silver will continue. But DiRienzo doesn't foresee silver disappearing from photovoltaics the way photographic demand largely disappeared with the transition to digital photography.

AI could become another major Silver demand driverArtificial intelligence represents another potentially significant source of future silver demand.

The AI boom requires an enormous physical infrastructure of data centers filled with electrical contacts, wiring, and other components that can use silver.

DiRienzo said data centers have grown by more than 6,000% in just three years. The Silver Institute has already examined silver's role in AI data centers and other emerging technologies in a report on silver as a “next generation metal.”

The precise amount of silver being consumed by AI infrastructure remains difficult to quantify. DiRienzo acknowledged that the Institute is hearing about increased consumption but doesn't yet have firm numbers.

The direction, however, appears clear to him. With AI infrastructure still in its infancy and data-center installations expanding around the world, DiRienzo expects silver demand from this sector to increase.

Higher Gold prices are also affecting jewelrySilver may also be benefiting indirectly from gold's elevated price.

DiRienzo pointed to examples of jewelry made primarily from silver and then plated with gold, providing the appearance of gold while using silver as the underlying metal.

Jewelry demand remains highly price-sensitive because it is fundamentally a discretionary purchase. DiRienzo also highlighted an interesting demographic trend: more women between the ages of 24 and 30 are buying silver jewelry globally.

The Silver Institute expects overall silver jewelry demand this year to remain relatively consistent with last year's level.

Higher prices can't quickly produce more SilverThe supply side of the market presents a very different challenge.

A silver miner can't simply flip a switch and dramatically increase production because prices have risen. DiRienzo noted that some of the mining taking place today traces back to plans made 10 years ago, in 2016.

Mining companies are spending more on exploration, but DiRienzo said they aren't doing so recklessly. Much of the activity appears concentrated around existing projects as companies search for additional or previously unidentified veins.

That means substantially higher silver prices aren't necessarily going to unleash a flood of new supply anytime soon.

Mine production increased about 3% in 2025, but the Silver Institute expects production to decline 0.3% in 2026.

A Sixth consecutive Silver market deficitThe supply constraint becomes particularly important when considered alongside persistent demand.

The Silver Institute expects the silver market to record its sixth consecutive annual structural deficit in 2026. DiRienzo estimated the shortfall at roughly 46 million to 50 million ounces, although it could become larger if demand strengthens.

Recycling will help. The Institute expects recycled silver supply to increase by roughly 7% this year.

It still won't be enough.

Even after incorporating recycling into total supply, DiRienzo expects demand to exceed supply again in 2026.

A market deficit doesn't mean the world has literally run out of silver. It means annual demand is exceeding annual newly available supply, forcing the market to draw on above-ground inventories.

And those inventories aren't necessarily as freely available as headline figures might suggest.

The Silver sitting in vaults isn't necessarily availableDiRienzo used London inventories to illustrate the problem.Suppose London Bullion Market Association vaults contain approximately 750 million ounces of silver. That sounds like an enormous stockpile.

But DiRienzo estimated that roughly 75% of that silver is already allocated to exchange-traded products around the world.

That leaves a much smaller pool of readily available metal — and accessing that remaining “free float” can be extremely price sensitive.

The consequences became apparent when tariff concerns caused silver to move from London and elsewhere into New York ahead of the April 2, 2025, “Liberation Day” tariff announcement.

Precious metals ultimately weren't included in the tariffs, but the episode demonstrated how quickly physical metal can move when market participants anticipate disruptions.

Maharrey pointed to another example closer to home: Money Metals was shipping 1,000-ounce silver bars to India during the tight market around Diwali.

DiRienzo recalled the episode and noted that silver lease rates subsequently surged as the market became extremely tight.

Could similar silver squeezes happen again?

“Absolutely,” DiRienzo said. “No question about it.”

Silver investment demand could strengthenThe Silver Institute also expects stronger retail investment demand for physical silver.

DiRienzo said demand for silver coins and bars could increase approximately 7% in 2026, despite challenges involving Indian import duties. India has been an especially strong market for silver bars and coins over the past several years.

Exchange-traded products tell another part of the investment story.

Silver ETPs recorded net inflows of approximately 270 million ounces in 2025. The outbreak of war subsequently contributed to liquidations in gold and silver ETPs, with DiRienzo saying silver had experienced outflows of roughly 6% this year.

He added that the Silver Institute was hearing that investment activity was beginning to pick up again.

Medicine shows another side of SilverWhen Maharrey asked DiRienzo to name one of silver's lesser-known applications that he finds particularly interesting, DiRienzo pointed to health and medicine.

Silver's antibacterial properties give it uses throughout healthcare environments. DiRienzo cited silver coatings in operating rooms and on operating tables and instruments, along with silver incorporated into hospital drapes and used alongside cleaning agents.

He also highlighted emerging nanotechnology. The Silver Institute's August edition of Silver News was set to examine how nanosilver can help doctors administer the correct drug dosage.

Silver's antibacterial properties extend beyond hospitals. DiRienzo also cited water purification, pools, and efforts to combat outbreaks of Legionnaires' disease. In these applications, silver can help prevent infection and promote healing.

These applications may represent relatively small amounts of silver compared with solar panels, electronics, or investment products, but they demonstrate just how broad the metal's usefulness has become.

From $15 to more than $70Perhaps the most striking way to understand today's silver market is simply to look backward.

During the interview, DiRienzo opened the World Silver Survey and read off a series of historical average prices.

Silver averaged $17.05 per ounce in 2017. It subsequently averaged $15.71, followed by $16.21 in 2019. By 2023, the average had risen to $23.35, followed by $28.27 in 2024 and approximately $40 in 2025.

In 2026, DiRienzo said the market is talking about an average above $70 per ounce.

That longer-term perspective matters after silver's retreat from its January peak.

At around $65 an ounce during the interview, silver was dramatically below its $121 high. But Maharrey emphasized that it wasn't very long ago that investors were accustomed to silver trading for $13, $14, or $15.

DiRienzo believes the difference reflects a fundamental change in the market.

“We think new floors have been set in the market,” he said. Silver, in his assessment, is now trading on the strength of both its industrial applications and its investment appeal.

A tight market with powerful long-term driversSilver's 2026 correction may dominate short-term investor psychology, but the fundamentals DiRienzo described point toward a much larger story.

The market is heading toward a sixth consecutive structural deficit. Mine production is expected to decline slightly. Recycling is increasing, but not enough to close the gap. Physical investment demand could rise 7%. Solar still consumes enormous amounts of silver despite ongoing thrift efforts. AI infrastructure presents another rapidly growing source of potential demand.

Meanwhile, much of the silver sitting above ground isn't necessarily freely available to the market.

DiRienzo believes 2026 is shaping up to be a remarkable year for the metal. He expects the annual average silver price to set a record, and he sees evidence that the market has established price floors far above those of the previous decade.

Silver may still be volatile. But in DiRienzo's view, today's silver market is fundamentally different from the one investors knew when the metal traded in the teens.

And those fundamentals — industrial demand on one side and investment demand on the other — could continue defining the silver market long after the geopolitical turbulence of 2026 has passed.

After a week of North American traders focusing on the developments in the US (CPI, PPI, Retail Sales), the focus this week shifts north of the 49th parallel.

USD/CHF rebounds on Monday as the US Dollar (USD) recovers from its early losses. At the time of writing, the pair trades around 0.8112 after touching an intraday low of 0.8072, its lowest level in over a week.

The US Dollar Index (DXY), which tracks the Greenback's value against a basket of six major currencies, trades around 99.60 after recovering from 99.30, its lowest level since June 5.

Analysts at MUFG/BTMU point out that the Dollar index “has not yet tested support from the 200-day moving average, which comes in at around 99.20,” underscoring that the broader gauge of Dollar strength is still trading above a key technical level. At the same time, they note that “the run of softer US economic data has encouraged market participants to scale back Fed rate hike expectations,” suggesting that the fundamental backdrop for sustained Dollar strength is becoming less supportive.

From a technical perspective, USD/CHF retains a mild bullish bias after reclaiming the key moving averages and the 0.8000 psychological mark in early June. However, price action has since turned largely sideways as momentum indicators soften.

The Relative Strength Index (RSI) on the daily chart stands near the neutral 52 level, while the Moving Average Convergence Divergence (MACD) indicator hovers slightly below zero. The Average Directional Index (ADX) at 16 also points to weak trend strength, inting at a consolidative tone rather than a decisive trend continuation.

On the upside, initial resistance is located at the 0.8150 horizontal level, followed by the stronger 0.8200 barrier. A sustained break above 0.8200 could restore bullish momentum and open the door to additional gains.

On the downside, the 50-day Simple Moving Average (SMA) at 0.8082 offers immediate support, followed by the 0.8000 psychological mark. A break below this area would expose the 100-day SMA at 0.7974 and the 200-day SMA at 0.7932.

Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.

The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.

The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.

Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.

As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.