He price of silver Spot prices hit a near-year high on Tuesday as gold futures hit their highest level since March 2022, after a respite in US inflation raised bets the Fed would halt hikes soon. to interest rates.
The silver Spot rose 1.71% at 12:00 noon and reached a maximum in this Wednesday’s session of $25,670 per ounce, its highest level since April 18, 2022, according to data from the Investing portal.
While the gold futures They reached a peak of 2,043.45 dollars per ounce this Wednesday, a maximum not seen since March 9 of last year, pointing to a 0.35 percent advance in the day.
Silver futures were up 1.77% at $25,633, while spot gold was up 0.64% at $2,016.51 an ounce.
He Consumer’s price index The US (CPI) rose 0.1% in March, after advancing 0.4% in February, raising bets that the Federal Reserve (fed) could do just one more rate hike at its next meeting in May and then pause tightening.
Ana Azuara, a raw materials analyst at Banco Base, explained that the fact that the inflation report feeds the expectation that there will only be one more increase in the interest rate strengthens the price of precious metals for two reasons: one, because it weakens the dollar, and two, because interest rates and commodities, especially gold, have an inverse relationship.
“For the case of gold I believe that the price has the potential to exceed its all-time high of $2.75.47 per ounce that it reached on August 7, 2020,” said the Banco Base analyst.
For the silversaid the maximum its futures could reach is between $27 and $30 per ounce.
After the March inflation report was released in the United States, the dollar index fell 0.60% to 101.51 units, which strengthened other raw materials such as oil.
Since March, the gold price It was showing an upward trend as demand for the precious metal increased amid fears over the turmoil in the banking sector last month. The silver It has also been on a rebound since March.
kg
