Experts predict that on October 25, 10, coffee prices in the domestic market are expected to continue to increase in many localities, especially in the Central Highlands.

The strong USD has pushed down the prices of gold and crude oil. However, coffee has recovered after falling too much in the previous days. The market has seen resistance as new crop supplies from Vietnam have not yet joined the transaction.

Dealers said foreign demand for Vietnamese coffee is declining, as many countries have secured coffee supplies from other sources, especially as the EU’s deforestation regulation is expected to take effect by the end of 2024, a delay from the original plan.

Speculators are also reducing net long positions ahead of the harvest in the top robusta producing nation. world, which is expected to ramp up sales next month. The European Union’s (EU) delay in implementing its anti-deforestation law, the EUDR, has reduced the urgency for new deals, further dampening the market.

According to experts, in the world market, Arabica coffee prices are likely to recover strongly, while Robusta tends to continue to fluctuate.

Recorded in the trading session on October 24, 10, domestic coffee prices today decreased sharply by 2024 – 1.600 VND/kg, ranging from 1.900 – 109.400 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 109.700 VND/kg, the highest purchase price in the province Dak Nong 109.700 VND/kg.

Specifically, the coffee purchase price in the province Gia Lai (Chu Prong) is 109.600 VND, down 1.800 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 109.500 VND/kg; In the province Kon Tum at the price of 109.600 VND/kg, down 1.800 VND/kg compared to yesterday; In Dak Nong province, coffee was purchased at the highest price of 109.700 VND/kg, down 1.900 VND/kg compared to yesterday.

Price of green coffee beans (coffee beans, fresh coffee beans) in the province Lam Dong In districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 109.400 VND/kg, down 1.600 VND/kg compared to yesterday.

Coffee prices today (April 24) in the province Dak LakIn Cu M’gar district, coffee was purchased at about 109.600 VND/kg, down 1.800 VND/kg, while in Ea H’leo district and Buon Ho town, it was purchased at the same price of 109.700 VND/kg.

Updated world coffee prices at 20:00 p.m. on September 24, 10, Vietnam time on the London exchange, the price of Robusta coffee futures contract for September 2024 delivery on the London exchange was at 11 USD/ton, down 2024 USD compared to the beginning of the trading session.

Coffee prices today, July 24, 10: Robusta coffee prices on the London floor. (Photo: Screenshot from giacaphe.com

Delivery term in November 1 is 2025 USD/ton, down 4.425 USD; Delivery term in January 78 is 3 USD/ton, down 2025 USD and delivery term in March 4.335 is 70 USD/ton, down 5 USD.

Arabica coffee prices on the New York floor on October 24, 10. (Photo: Screenshot of giacaphe.com)

In particular, the price of Arabica coffee on the New York floor today at 20:00 p.m. on September 24, 10 decreased in all terms, fluctuating at 2024 – 242.55 cents/lb.

Specifically, the delivery term in December 12 is 2024 cents/lb; down 247.65 cents/lb compared to the beginning of the session. March 4.70 delivery is 3 cents/lb, down 2025 cents/lb; Delivery period in May 246.50 is 4.55 cents/lb, down 5 cents/lb and delivery period in July 2025 is 245.00 cents/lb, down 4.55 cents/lb.

Brazilian Arabica coffee price on October 24, 10. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee today at 21:00 p.m. on October 24, 10 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 12 USD/ton, down 2024%; the delivery period for March 301.65 is 0.66 USD/ton, down 3%; the delivery period for May 2025 is 302.15 USD/ton, up 0.80% and the delivery period for July 5 is 2025 USD/ton, up 305.90%.

Robusta coffee traded on ICE Futures Europe (London floor) opens at 16:00 and closes at 00:30 (the next day), Vietnam time.

Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 p.m. and closes at 01:30 a.m. (the next day), Vietnam time.

The 2023-2024 crop year ended with a supply-demand balance tilted towards a surplus of 1 million bags. However, the 2024-2025 coffee output is forecast to be heavily impacted by extreme weather factors. Therefore, coffee prices in the third quarter are expected to remain high, double that of the same period last year.

Industry insiders believe that coffee prices in the fourth quarter may be adjusted down due to additional supply from major coffee growing countries, including Vietnam.

*Information is for reference only, prices may vary depending on region and locality

In its latest short term energy outlook (STEO), which was released earlier this month, the U.S. Energy Information Administration (EIA) cut its West Texas Intermediate (WTI) oil price forecast for both 2024 and 2025.

According to that STEO, the EIA now sees the WTI spot price averaging $76.91 per barrel this year and $73.13 per barrel in 2025. The EIA’s previous STEO, which was released in September, projected that the WTI spot price would average $78.80 per barrel in 2024 and $79.63 per barrel in 2025. Both STEOs put the 2023 WTI spot price average at $77.58 per barrel.

In its latest STEO, the EIA forecast that the WTI spot price would come in at $71.97 per barrel in the fourth quarter of this year, $73.67 per barrel in the first quarter of 2025, $74.50 per barrel in the second quarter, $73.17 per barrel in the third quarter, and $71.22 per barrel in the fourth quarter.

The EIA’s September STEO projected that the WTI spot price would average $77.64 per barrel in the fourth quarter of this year, $79.02 per barrel in the first quarter of 2025, $80.50 per barrel across the second and third quarters of next year, and $78.50 per barrel in the fourth quarter of 2025.

A report sent to Rigzone by Standard Chartered Bank Head of Commodities Research Paul Horsnell late Tuesday revealed that the company is projecting that the NYMEX WTI basis nearby future crude oil price will average $84 per barrel in the fourth quarter of this year, $86 per barrel in the first quarter of 2025, $89 per barrel in the second quarter, $92 per barrel in the third quarter, and $90 per barrel in the fourth quarter.

A research note sent to Rigzone by the JPM Commodities Research team last week showed that J.P. Morgan expects the WTI crude price to average $76 per barrel in the fourth quarter, $78 per barrel in the first quarter of next year, $73 per barrel in the second quarter, $69 per barrel in the third quarter, and $65 per barrel in the fourth quarter.

Executives from oil and gas firms revealed where they expect the WTI crude oil price to be at various points in the future as part of the third quarter Dallas Fed Energy Survey.

The average response executives from 134 oil and gas firms gave when asked what they expect the WTI crude oil price to be at the end of 2024 was $72.66 per barrel, the survey showed. When asked where they expect WTI prices to be in six months, one year, two years, and five years, executives from 119 oil and gas firms gave a mean response of $73 per barrel for the six month mark, $76 per barrel for the year mark, $81 per barrel for the two year mark, and $87 per barrel for the five year mark, the survey outlined.

In a technical analysis of WTI prices sent to Rigzone on Wednesday, Rania Gule, a senior market analyst at XS.com, said, “from a technical perspective, crude oil prices are facing increasing pressures as markets shake off the impacts of the conflict in the Middle East and supply appears to be abundant”.

“To regain momentum, the price needs to surpass the pivotal level at $71.50 with a daily close, which would provide an opportunity to test the level of $75.13, a significant hurdle,” Gule added.

“On the downside, the support level at $67.12 should be monitored; if it is breached, the market could decline to the lowest level of 2024 at $64.75, followed by $64.38,” Gule warned.

In the analysis, Gule stated that, currently, the oil market is undergoing a sideways consolidation phase between $78.00 and $64.00, with the overall outlook leaning towards a neutral to bearish sentiment.

“Momentum indicators suggest a near-term corrective upward move that could reach $75.00 and $78.00 in the medium term, although the price remains below the 200-day simple moving average at $75.37,” Gule added.

To contact the author, email andreas.exarheas@rigzone.com

• Silver price recovers above $34.00 as US yields tumble.
• The Fed is expected to pursue a moderate rate-cut approach.
• Geopolitical tensions surrounding the Middle East limit the downside of the Silver price.

Silver price (XAG/USD) rebounds strongly above $34.00 in Thursday’s European session after declining to near $33.40 on Wednesday. The white metal bounces back as US bond yields tumble after a sharp rally in the past few weeks. 10-year US bond yields plummet to 4.19%, down 1.28% at the time of writing.

Lower yields on interest-bearing assets reduce the opportunity cost of holding an investment in non-yielding assets, such as Silver. Meanwhile, the US Dollar also faced a slight correction after a sharp rally. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, slides to near 104.15 after posting a fresh 12-week high around 104.50 on Wednesday.

The outlook of US yields and the Greenback remains firm as investors expect the Federal Reserve (Fed) to follow a moderate interest rate cut cycle. According to the CME FedWatch tool, the central bank is expected to cut interest rates by 25 basis points (bps) in November and December.

In today’s session, investors will focus on the flash United States (US) S&P Global PMI data for October, which will be published at 13:45 GMT.

The Silver price remains well-supported due to uncertainty over the US presidential election, which is coming in less than two weeks, and escalating Middle East tensions. The scenario of geopolitical and political uncertainty bodes well for precious metals, such as Silver price, as investors use the asset as a hedge in risky market conditions.

Silver technical analysis

Silver price recovers sharply after a mild correction to near $33.40. The white metal aims to revisit a fresh over 12-year high near $35.00. The asset strengthened after breaking above the horizontal resistance plotted from the May 21 high of $32.50 on a daily timeframe, which will act as support for now. Upward-sloping 20- and 50-day Exponential Moving Averages (EMAs) near $32.30 and $31.10, respectively, signal more upside ahead.

The 14-day Relative Strength Index (RSI) oscillates above 60.00, points to an active bullish momentum.

Silver daily chart

• The US Dollar stalls with Treasury bond yields as Tesla’s earnings report lifts mood.
• Technically, Gold price appears a ‘buy-the-dips’ trade, 38.2% Fibo level holds the key.

Gold price is reversing a part of Wednesday’s correction from record highs of $2,759 early Thursday. Gold buyers draw support from a pause in the US Dollar (USD) advance, as the US Treasury bond yields rally takes a breather in the lead-up to the preliminary S&P Global US PMI data.

Gold price looks to US PMI data for further incentives

The minor pullback in the USD alongside the US Treasury bond yields could be attributed to a stabilizing market mood in Asia, following Wall Street’s tech sell-off overnight. US equity futures rebound amid a risk reset after investors breathed a sigh of relief on Tesla Inc.’s encouraging earnings report.

Tesla reported adjusted earnings of 72 cents per share for the quarter, above the average analyst estimate and snapping four consecutive quarters in which the measure missed expectations, per CNBC News. The company said its Cybertruck, which it first delivered late last year, has reached profitability for the first time,

The further upside in Gold price, however, remains at the mercy of the upcoming Euro area and the US preliminary business PMI data. Investors will seek cues on the health of the global economy, impacting risk sentiment and safe-havens such as the USD, Gold price, etc.

The US S&P Global preliminary Manufacturing PMI is seen ticking higher to 47.5 in October from September’s 47.3 while the Services PMI is set to edge a tad lower to 55.0 in the same period from 55.2 in September.

Meanwhile, the market’s nervousness ahead of key US earnings reports and the presidential election will also play its part in driving the sentiment around Gold price. Any potential decline in Gold price is likely to be bought into, as buyers could re-emerge on Gold’s safe-haven demand due to the November 5 US election and the ongoing Middle East conflict.

Gold price technical analysis: Daily chart

Gold price seems to be facing stiff resistance at $2,723, the 23.6% Fibonacci Retracement (Fibo) level of the latest record rally from the October 10 low of $2,604 to an all-time high of $2,759.

Acceptance above that level could encourage buyers to take on the $2,750 psychological barrier. The record high of $2,759 will be next on buyers’ radars.  

The 14-day Relative Strength Index (RSI) is flattish but well above the 50 level, currently trading near 65.60, pointing to more upside momentum.

However, if Gold sellers jump back into the game, the 38.2% Fibo level of the same ascent at $2,700 will come to the rescue of buyers.

A sustained move below the latter will put the 50% Fibo support at $2,682 to the test.

The line in the sand for Gold optimists is aligned at the 21-day Simple Moving Average (SMA) at $2,670.

• The US Dollar stalls with Treasury bond yields as Tesla’s earnings report lifts mood.
• Technically, Gold price appears a ‘buy-the-dips’ trade, 38.2% Fibo level holds the key.

Gold price is reversing a part of Wednesday’s correction from record highs of $2,759 early Thursday. Gold buyers draw support from a pause in the US Dollar (USD) advance, as the US Treasury bond yields rally takes a breather in the lead-up to the preliminary S&P Global US PMI data.

Gold price looks to US PMI data for further incentives

The minor pullback in the USD alongside the US Treasury bond yields could be attributed to a stabilizing market mood in Asia, following Wall Street’s tech sell-off overnight. US equity futures rebound amid a risk reset after investors breathed a sigh of relief on Tesla Inc.’s encouraging earnings report.

Tesla reported adjusted earnings of 72 cents per share for the quarter, above the average analyst estimate and snapping four consecutive quarters in which the measure missed expectations, per CNBC News. The company said its Cybertruck, which it first delivered late last year, has reached profitability for the first time,

The further upside in Gold price, however, remains at the mercy of the upcoming Euro area and the US preliminary business PMI data. Investors will seek cues on the health of the global economy, impacting risk sentiment and safe-havens such as the USD, Gold price, etc.

The US S&P Global preliminary Manufacturing PMI is seen ticking higher to 47.5 in October from September’s 47.3 while the Services PMI is set to edge a tad lower to 55.0 in the same period from 55.2 in September.

Meanwhile, the market’s nervousness ahead of key US earnings reports and the presidential election will also play its part in driving the sentiment around Gold price. Any potential decline in Gold price is likely to be bought into, as buyers could re-emerge on Gold’s safe-haven demand due to the November 5 US election and the ongoing Middle East conflict.

Gold price technical analysis: Daily chart

Gold price seems to be facing stiff resistance at $2,723, the 23.6% Fibonacci Retracement (Fibo) level of the latest record rally from the October 10 low of $2,604 to an all-time high of $2,759.

Acceptance above that level could encourage buyers to take on the $2,750 psychological barrier. The record high of $2,759 will be next on buyers’ radars.  

The 14-day Relative Strength Index (RSI) is flattish but well above the 50 level, currently trading near 65.60, pointing to more upside momentum.

However, if Gold sellers jump back into the game, the 38.2% Fibo level of the same ascent at $2,700 will come to the rescue of buyers.

A sustained move below the latter will put the 50% Fibo support at $2,682 to the test.

The line in the sand for Gold optimists is aligned at the 21-day Simple Moving Average (SMA) at $2,670.

XAU/USD Current price: $2,719.65

• Rising US Treasury yields amid looming US elections back the US Dollar.
• Polls show a tight intention vote between Vice President Harris and former President Trump.
• XAU/USD aims to extend its corrective advance, could pierce the $2,700 level.

Spot Gold reached yet another record high on Wednesday, trading as high as $2,758.36 before turning south. The bright metal retreated from such a high and trades at around $2,720 as the US Dollar maintained its positive momentum across the FX board. Financial markets are in risk-averse mode, with global stocks under pressure. Tech shares led the slide, albeit speculative interest is also looking at government bond yields, which jumped this week in anticipation of the United States (US) presidential election.

The world’s largest economy heads into the polls in little over two weeks, with no clear winner ahead of the event. It seems Vice President Kamala Harris is leading and has a roughly 2% lead over former President Donald Trump, yet the difference is barely significant.

Meanwhile, Treasury yields extended their weekly advance. The 10-year note currently offers 4.26%, while the 2-year note yields 4.06%, levels not seen since early in July.

XAU/USD short-term technical outlook  

The XAU/USD pair is currently stuck at around the 23.6% Fibonacci retracement of the $2,601.87/$2,756.36 rally at $2,721.20. The decline seems corrective, although it may continue towards $2,698.66, the 38.2% retracement of the same rally.

In the daily chart, technical indicators turned south, with the Relative Strength Index (RSI) indicator correcting overbought conditions and the Momentum easing from October highs. Both indicators support another leg lower, yet a break through the daily low at $2,708.57 will help confirm the slide. Additionally, it is worth mentioning moving averages maintain their firm upward slopes far below the current level, keeping the long-term bullish trend alive.

The 4-hour chart shows a near-term downward continuation is likely. Technical indicators head south almost vertically, crossing their midlines into the negative territory. At the same time, XAU/USD lost its bullish strength and turned flat, now providing dynamic resistance at around $2,732.70. Nevertheless, the 100 and 200 SMAs keep advancing far below the current level, limiting the downward potential of the pair.

Support levels: 2,708.50, 2,698.60, 2,680.10

Resistance levels: 2,732.70, 2,744.10 2,758.40

• Silver price faces selling pressure as US bond yields rise sharply.
• Middle East tensions and US political uncertainty will limit the downside in the Silver price.
• Trump’s victory could weigh on exports of US close trading partners.

Silver price (XAG/USD) corrects sharply below $34.50 in Wednesday’s New York session after registering a fresh more than 12-year high slightly below $35.00 on Tuesday. The rally in the white metal appears to have paused for a while as the US Treasury yields have extended its upside.

10-year US Treasury yields jump to near 4.24% as investors expect the Federal Reserve (Fed) to follow a gradual policy-easing cycle. Historically, higher yields on interest-bearing assets increase the opportunity cost of holding an investment in non-yielding assets, such as Silver. The US Dollar (USD), which tracks the Greenback’s value against six major currencies, revisits the August high of 104.45.

However, the upside trend remains intact due to multiple catalysts. From growing United States (US) political uncertainty to escalating Middle East tensions, every catalyst is acting as a tailwind for the Silver price.

According to the Reuters/Ipsos polls, current Vice President Kamala Harris leads by a slight margin against former President Donald Trump. However, market participants worry that Trump’s victory could result in higher tariffs and lower taxes, which could force the Federal Reserve (Fed) to return to the restrictive policy stance for a period of time.

In the Middle East region, the launch of a rocket salvo by Iran-backed-Hezbollah on Israel’s military base near Tel Aviv exhibits signs that tensions between them will stay afloat. The appeal of precious metals, such as Silver, as a safe haven, given that investors consider them as a hedge against dismal market sentiment.

Silver technical analysis

Silver price slumps after failing to capture the key resistance of $35.00. The white metal strengthened after breaking above the horizontal resistance plotted from the May 21 high of $32.50 on a daily timeframe, which will act as a support for now. Upward-sloping 20-day Exponential Moving Averages (EMAs) near $32.15 signal more upside ahead.

The 14-day Relative Strength Index (RSI) oscillates above 60.00, points to an active bullish momentum.

Silver daily chart

Created on October 23, 2024

• During my daily analysis of the West Texas Intermediate Crude Oil market, it’s obvious that we have seen a lot of buying pressure on Tuesday.
• At this point in time, the market is likely to continue to see a little bit of momentum based on the size of the candlestick, and it is probably worth noting as well, that most of the headlines and pundits around the world believe that this is based on the idea of renewed Chinese demand, or at least the optimism surrounding the possibility of it.

Furthermore, we also have geopolitical escalations out there that continue to be a major issue. Quite frankly, the Middle East isn’t calming down, and one would have to think that sooner or later it would have an influence on the oil market. I don’t necessarily think that the market is paying close attention to it right now, because quite frankly it’s been rather lackluster as of late. All things being equal, I think most of this comes down to the idea of demand, as traders are assuming that the conflict involving Israel and several factions in the Middle East probably won’t spread.

It was an extraordinarily bullish day on Tuesday, but we also have to pay attention to the fact that the 50 Day EMA sits right around the $72.70 level and is dropping. I would anticipate that the 50 Day EMA could offer a little bit of a ceiling in the market, as it is so widely followed. If we were to break above there, then I think it’s likely that we will continue to see oil go much higher, perhaps reaching the 200 Day EMA which is sitting just above the $76 level.

On the downside, there seems to be a significant amount of support at multiple levels, not the least of which would be the $66 level, which is the bottom of the range for the last 2 years. I think we are just simply bouncing from the lows, and that if you are a buyer of this market, you are essentially doing it for a short-term trade more than anything else. I would expect plenty of volatility in this general region.

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Created on October 23, 2024

• Despite the strong gains of the US dollar, the price of gold rose to around $2753 per ounce, trading at record levels, the highest in the history of the gold market.
• Its successive gains were supported by its status as a safe-haven asset.
• Reports indicated that tensions in the Middle East and broader global uncertainties have raised concerns about conflict escalation, further boosting demand for gold as a secure investment option.

In addition, the narrow US presidential election, which is only a few weeks away, is increasing demand for safe havens. At the same time, monetary easing from major global central banks is supporting the upward momentum of gold, as the People’s Bank of China and the European Central Bank recently cut key lending rates. At the same time, traders are assessing different views from Federal Reserve officials on the future path of US monetary policy.

In this regard, Kansas City Federal Reserve President Jeffrey Schmid is calling for a slower pace of interest rate cuts, while San Francisco Federal Reserve President Mary Daly stresses the need for further cuts to protect the Labor market.

According to gold trading platforms, gold prices are rising due to an imbalance between supply and demand. Gold prices had risen to an all-time high of $2,753 per ounce as investors sought safe-haven assets amid rising geopolitical tensions. Consequently, this means that the price of the yellow metal has risen by 38 percent this year 2024. The rise in gold bullion prices came as the conflict between Lebanon and Israel intensified, with concerns growing about a broader regional escalation. At the same time, uncertainty about the outcome of the US elections, with particular concerns about the improvement in Donald Trump’s chances in betting markets, has also pushed investors towards safe-haven assets.

Gold Price Analysis and forecast Today:

According to analysts, “gold usually attracts the attention of investors when they are looking for a store of value during uncertain times.”

Obviously, Gold is a proven hedge against inflation as investing in it is seen as preserving the real value of assets when other prices rise. It remains resilient when other markets are not. According to gold market analysis experts, “The gold price index tends to rise as interest rates fall due to the decline in the return on cash from banks, or bonds from governments, which pushes investors away from cash or debt towards the metal. And “A Trump victory in the US presidential election would increase the risk of a trade war, and his provocative nature could lead to increased uncertainty in the markets. And owning gold is essentially an insurance policy against the unknown.”

Analysts noted that investors’ appetite for gold has been boosted by “the risk of spillover into a wider conflict in the region” and uncertainty around the upcoming elections, making gold an attractive asset for those seeking to hedge against market volatility. The rising price of gold is a direct reflection of the fear and uncertainty facing investors.”

On the other hand, Chinese stimulus and a strong US economy are also boosting demand for gold. In addition to geopolitical factors, the second factor is the old supply and demand factors that affect the price of gold. Gold demand hit an all-time high in Q2, and we expect this rally to continue into Q3, and in the absence of increased supply, the price of gold will naturally rise.

Gold’s latest achievement comes amid growing concerns over conflicts in the Middle East and a tight US presidential election. Moreover, Gold is widely seen as a safe haven asset and attracts investors during times of geopolitical uncertainty. Furthermore, central banks around the world have been buying bullion in large quantities over the past year.

According to recent trading, the price of gold has risen by about 2.4% over the past week, as violence in the Middle East escalated and opinion polls showed a tight tie in the US presidential election. Furthermore, the gold price index is now up more than 30% this year as interest rates have been cut amid strong buying by central banks. Gold is not the only metal on the rise. Recently, Silver has jumped 5.5% in recent days and is now at its highest level since 2012. Also, Palladium and platinum are also on the rise.

Ready to trade today’s Gold forecast? Here are the best Gold brokers to choose from. 

• Silver price holds position near a 12-year high of $34.87, recorded on Tuesday.
• The demand for safe-haven Silver rises amid escalating tensions in the Middle East.
• The tight situation in the upcoming US election has further heightened demand for safe-haven assets.

Silver price (XAG/USD) halts its six-day winning streak, trading around $34.87 per troy ounce, the highest level not seen since October 2012, during Asian trading hours on Wednesday. The outlook for Silver is bullish, driven by safe-haven demand amid escalating tensions in the Middle East.

On Tuesday, Israel confirmed the death of Hashem Safieddine, the successor to the late Hezbollah leader Hassan Nasrallah, who was killed in an Israeli operation last month. The Israeli military stated that Safieddine was killed in a strike conducted three weeks ago in the southern suburbs of Beirut, according to Reuters.

Additionally, US Secretary of State Antony Blinken conveyed to Israeli Prime Minister Benjamin Netanyahu on Tuesday that Israel’s efforts to facilitate increased humanitarian aid into Gaza have been inadequate. Blinken urged Israel to take further action to improve the situation.

The upcoming US election has further heightened demand for safe-haven assets like Silver. A recent Reuters/Ipsos poll indicates that Democratic Vice President Kamala Harris holds a narrow lead of 46% to 43% over former Republican President Donald Trump.

This lead, recorded in a six-day poll that closed on Monday, is only slightly up from her 45% to 42% advantage in a poll conducted a week earlier, highlighting the tightness of the race with just two weeks remaining before the November 5 election.

Additionally, demand for non-yielding Silver has been boosted by monetary easing measures from major central banks. The People’s Bank of China (PBoC) and the European Central Bank (ECB) have both recently reduced key lending rates, contributing to increased interest in Silver.

Furthermore, the Bank of Canada (BoC) is expected to announce a significant interest rate cut of 50 basis points during its upcoming monetary policy meeting on Wednesday. In contrast, expectations for aggressive rate cuts by the Federal Reserve have decreased following a series of positive economic data.