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Wednesday, May 13, 2026

Silver sees fresh gains as gold loses Dh1 amid rising US inflation rates

تم إعداد هذا المنشور من قبل فيجاي فاليتشا

Silver sees fresh gains as gold loses Dh1 amid...

Vijay Valecha, May 13, Khaleej Times

Silver’s strong rebound comes after rallying 15 per cent over the past week and lifting year-to date gains to around 20 per cent, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said.

The 24K gold was trading at Dh566.25 per gram on Wednesday morning, down from 567.25 at the market close on Tuesday.

The other variants, 22K, 21K, 18K, and 14K, were trading at Dh524.25, 502.75, 430.75, and 336.00, respectively.

Globally, gold was trading at around Dh90 at Dh17,280.33 ($4,673.06) per ounce as of 9:15 AM UAE time. Silver gained 2.03 per cent, trading at Dh318.23 ($86.69) per ounce.

Silver’s strong rebound comes after rallying 15 per cent over the past week and lifting year-to date gains to around 20 per cent, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said.

Trading above the $82–$83 level triggered fresh buying from hedge funds and momentum traders, while silver continued to outperform gold thanks to its dual appeal as both a precious and industrial metal, he noted.

Other experts say that the pullback paves the way for a cautiously bearish path for gold from an intraday perspective.

Data published by the US Bureau of Labor Statistics on Tuesday show that US inflation rates jumped to 3.8 per cent in April amid rising fuel prices.

“The metal remains under pressure from a firmer US dollar and rising oil prices, as fading hopes for a US-Iran peace agreement continue to fuel inflation concerns and reinforce expectations of a higher-for-longer rate environment,” Vijay Valecha, May 9, Middle East News 247, Chief Investment Officer of Century Financial, explained.

“Technically, gold is facing resistance near the 100-day SMA at $4,775, a level that has capped previous rallies. Support lies near $4,674 (9-day EMA), followed by $4,650 (38.2 per cent Fib level). Silver remains volatile after yesterday's sharp rally of over 7 per cent, with support near $81.80 and resistance around $87.20,” he added.

Source

Khaleej Times

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