May 29, 2026 12:50 IST The Chicago Mercantile Exchange ( CME Group ) has again slashed its margin requirements on futures contracts of gold , silver , and other precious metals. This marks its second revision in two months. The announcement comes at a time when media reports suggest that the US and Iran might be nearing a material agreement to extend the ceasefire and reopen the crucial trade route- Strait of Hormuz . The CME filing dated May 28 stated that margins are being reduced as a part of normal review activity to ensure adequate collateral coverage. The new margin requirements will come into effect from May 29. Precious metal prices have taken a hit since the start of the West Asia conflict, which has stretched for three months now. Gold prices have fallen by nearly 15%, while silver prices have declined by over 19% since tensions in the Middle East began on February 28. What are the new margin requirements? The initial margin requirements for COMEX 100 gold futures have been lowered to 5% from the previous 6% for non-heightened risk profiles (HRP), and for heightened risk profiles, the new initial requirements now stand at 5.5%, down 100 basis points from the previous 6.6%. As for COMEX 5000 silver futures, the new initial requirements have been reduced to 10% from 11% for Non-HRPs, while for HRPs, the new initial requirement is 11%, down from the previous 12.1%. Last month as well, the CME Group had lowered margin requirements on futures contracts of gold and silver. Platinum and Palladium requirements lowered too For NYMEX Platinum futures, the new initial requirement has been decreased to 9% from the previous 11% for Non-HRPs, while HRPs have seen a sharper reduction as the new initial requirement stands at 9.9%, down from the previous 12.1%. As for NYMEX Palladium futures, the new initial requirement for Non-HRPs is 10%, cut from the previous 12%, and for HRPs, the requirement is 11%, down from the previous 13.2%. What are margin requirements? In futures trading, margin requirements essentially mean the minimum amount of capital a trader must pay to hold their position. These are often referred to as performance bond requirements by CME Group, which owns and operates the COMEX exchange. Margin requirements are set by exchanges to manage market volatility. Lower margins mean traders need less capital to maintain a contract. This is often aimed at increasing participation and improving liquidity. How are CME requirements related to MCX? CME and MCX margin requirements are set independently by the respective exchanges. However, a reduction in CME margins is likely to increase global liquidity and participation, which generally supports international market prices and provides a tailwind to MCX prices, as they closely track COMEX prices. Source： https://www.financialexpress.com/market/commodities-cme-slashes-gold-silver-margins-for-second-time-in-two-months-what-it-means-for-mcx-prices-4254126/

May 29, 2026, 02:29 AM Gold is consolidating but the long-term bull market remains strong. Fiscal imbalances and central bank buying to drive prices higher. Gold is just taking a breath and the race is not over. Gold prices have pulled back from recent highs, dipping below $4,500 per ounce and testing key technical support levels, but the long-term bull market remains firmly intact, according to portfolio manager Tom Winmill of the Midas Discovery Fund. In an interview with Kitco News , Winmill emphasised that the current consolidation should be viewed as a healthy pause rather than a reversal. “Gold is just taking a breath and the race is not over,” he stated, underscoring his conviction that structural drivers continue to support higher prices ahead. The yellow metal has faced pressure amid shifting market dynamics, including stronger US dollar moves and fluctuations in Treasury yields. Yet Winmill sees these as temporary headwinds in what he describes as a secular bull market for gold. Strong fundamentals underpin outlook Winmill pointed to persistent global fiscal imbalances as a core reason for optimism. “There’s no way back from the fiscal imbalances, and gold benefits,” he noted, highlighting how elevated government debt levels and monetary policy realities create a favorable environment for precious metals. Central bank buying remains a powerful tailwind, with many emerging market institutions continuing to diversify reserves away from traditional currencies. This demand floor, combined with investor interest in gold as a hedge against uncertainty, provides significant support even during periods of consolidation. The portfolio manager also drew attention to gold equities, which he believes offer compelling value after the recent correction in the sector. Mining companies have strengthened their balance sheets through disciplined capital allocation and are now generating robust cash flows. Winmill views gold stocks as a strategic opportunity for investors seeking leveraged exposure to rising metal prices. Path to higher prices remains open Looking further ahead, Winmill has previously expressed bullish targets, including scenarios where gold could approach or exceed $5,000 per ounce. He maintains that the path to such levels is “wide open,” driven by a combination of macroeconomic factors including potential monetary easing, geopolitical risks, and ongoing de-dollarization trends. Despite short-term volatility, the Midas Discovery Fund manager advised patience. The recent pullback, in his view, represents a breathing period that allows the market to reset before the next leg higher. Investors who focus on fundamentals rather than daily price action are likely to be rewarded as the cycle matures. Portfolio positioning and strategy At Midas Discovery, Winmill’s approach centers on a mix of established producers and select development-stage companies with strong assets. Holdings have historically included names like Barrick Gold and Newmont, alongside royalty companies that provide lower-risk exposure to gold price upside. The fund’s long-term track record reflects success in navigating precious metals cycles, aiming to preserve and grow purchasing power through strategic investments in gold, silver, and related hard assets. Winmill has managed the fund for over two decades, emphasizing a disciplined, value-oriented style. Current market conditions, with gold testing its 200-day moving average, present what Winmill sees as an attractive entry or accumulation point for both physical metal and equities. He cautioned, however, that volatility will persist, particularly as markets digest economic data and geopolitical developments. Broader market context Gold’s performance in 2026 has been marked by significant swings following a strong prior year. While prices have retreated from peaks above $4,500, many analysts continue to forecast substantial upside over the medium term, with some projections targeting $5,000 or higher by year-end or into 2027. Winmill’s message aligns with this constructive view, reinforcing that structural bull market drivers have not been exhausted. For investors, the current environment calls for a focus on quality assets and a long-term horizon rather than attempting to time short-term moves. As global uncertainties persist, from fiscal policy challenges to international tensions, Winmill believes gold’s role as a safe-haven and inflation hedge will only grow in importance. The race, as he puts it, is far from over. Source： https://invezz.com/news/2026/05/29/gold-is-just-taking-a-breath-path-to-5000-oz-still-wide-open/

Jun 01, 2026, 00:43 AM Gold slips as stronger dollar and oil rally blunt haven demand. Traders await Trump decision on Iran ceasefire as Fed risks grow anew. Silver, platinum and palladium rise even as bullion loses fresh momentum. Gold fell in early trading on Monday as a stronger dollar and a jump in oil prices dulled demand for bullion, with investors weighing the prospect of a longer Middle East conflict and its implications for inflation and US monetary policy. Spot gold declined 0.4% to $4,518.09 an ounce as of 0306 GMT, leaving it down 0.1% for the week. US gold futures for August delivery dropped 1% to $4,548.90 an ounce. The move came as the dollar firmed, making bullion more expensive for buyers using other currencies. Oil also climbed more than 2% , trading above $93 a barrel, adding to concerns that energy-driven inflation could remain sticky if geopolitical tensions persist. Gold, which pays no interest, often comes under pressure when the dollar rises or when markets price in a firmer interest-rate outlook. That dynamic was on display on Monday, even as the metal retained support from geopolitical uncertainty. Traders await Trump decision The market’s attention is centred on US President Donald Trump’s expected decision on a proposal to extend a ceasefire between Iran and its regional enemies for several months. Negotiations between Iran and the US remain difficult, with the two sides still far apart on key terms. A longer ceasefire could ease some of the pressure on energy markets and reduce demand for defensive assets. Failure to reach an agreement, however, could keep oil prices elevated and reinforce inflation concerns. Tim Waterer, market analyst at KCM Trade, said investors were waiting for clearer signals from Washington before taking stronger positions in gold. The uncertainty has left bullion caught between competing forces. On one side, geopolitical risk continues to support demand for safe-haven assets. On the other, a stronger dollar and higher oil prices are prompting traders to reassess the path for US interest rates. Fed inflation risk in focus Federal Reserve officials are also watching the conflict for signs that higher energy costs could feed into broader inflation. Federal Reserve Governor Michelle Bowman has flagged the risk that a prolonged shock could make inflation more persistent, potentially affecting the central bank’s policy outlook. That matters for gold because expectations of tighter policy tend to raise bond yields and reduce the appeal of non-yielding assets. Any sign that the Fed may need to keep rates higher for longer, or even consider a more restrictive stance, could cap bullion’s gains. Still, analysts say the longer-term case for gold has not disappeared. They said that metal could still reach $5,500 by the end of 2026 if several supportive factors align, including lower oil prices, a weaker dollar, stronger central-bank buying and continued demand for gold as a hedge against inflation and geopolitical risk. Other precious metals rise Elsewhere in precious metals, silver gained 0.4% to $75.58 an ounce and was up 0.6% for the week. Platinum rose 1.1% to $1,937.30 an ounce, taking its year-to-date gain to 13.3%. Palladium advanced 1.2% to $1,370.50 an ounce and was up 6.2% so far this year. For now, gold remains sensitive to shifts in the dollar, oil prices and developments around the Middle East ceasefire talks. Until investors have more clarity on the duration of the conflict and its inflationary impact, bullion is likely to trade less on safe-haven demand alone and more on how energy prices feed into the Fed’s rate debate. Source： https://invezz.com/news/2026/06/01/will-gold-hit-5500-as-oil-shock-and-fed-rate-risks-unsettle-markets/

May 28, 2026 Silber-Anleger erleben derzeit ein zähes Ringen: Kurzfristig fehlt dem Markt unterhalb der Marke von 75 US-Dollar jSilver investors are currently facing a tough struggle: In the short term, the market lacks the necessary momentum below the $75-per-ounce mark. Yet explosive momentum is building in the background. While Bank of America (BofA) believes another jump to the three-digit $100 mark is possible before the end of the year, the analyst team also warns against premature optimism. Such a price surge is unlikely to signal a lasting trend reversal. Rather, according to the analysts, the silver market is facing a profound fundamental shift in which the industrial base is increasingly crumbling. The balancing act between precious metal fantasy and industrial reality Bank of America’s latest precious metals analysis paints a picture of a divided market. In the short term, silver has the potential to break through the $100-per-ounce mark in the wake of a sustained gold rally. However, this speculative high is unlikely to last: Analysts are already forecasting a return of the price to a level of around $75 as early as the second quarter of 2027. Currently, the gold-silver ratio of 59.43 points reflects this indecision. It remains in the middle of its months-long consolidation range—an indicator of a market that is sensitively oscillating between short-term speculation and a fundamental revaluation. Although the silver market is heading toward its sixth consecutive year of deficit, the sustainability of this supply shortage is under massive threat in the medium term. Solar Industry in Austerity Mode: The Key Demand Pillar Wavers The strongest headwind for the silver price is emerging, of all places, in its former flagship segment—photovoltaics. Faced with historically high silver prices, solar module manufacturers are responding with drastic efficiency measures. Under sustained margin pressure, they are systematically reducing the silver content in the cells or switching to cheaper substitute metals. According to BofA analysts, silver demand from the solar sector already reached its historic peak last year. This trend is exacerbated by stagnating solar production in China and the prospect of declining new installations in the current year. Since demand growth in other industrial sectors is too weak to close the gap left by the solar industry, the silver market faces a fundamental easing of supply-demand dynamics: as early as 2026, the deficit could shrink by a massive 90%. Should industrial demand continue to weaken, even moderate sales by financial investors would be enough to push the market into a physical surplus. Investors as the Deciding Factor In this changed environment, silver is likely to be perceived and traded more as a classic precious metal rather than an industrial metal in the future. Investor demand thus becomes the decisive price factor. This carries risks, as precious metals have recently suffered from the restrictive interest rate policy and expectations of further rate hikes by the U.S. Federal Reserve. Rising yields increase the opportunity costs for non-interest-bearing investments and weigh equally on both gold and silver. Nevertheless, silver remains a strategic element of the global energy transition. An abrupt slump in solar demand is not expected. Demand is further fueled by geopolitical conflicts such as the war in Iran, which continues to drive the global push for green energy and alternatives to fossil fuels. Geopolitics and Trade Barriers as Price Drivers Just how volatile the physical market can be was already evident at the start of the year, when the silver price briefly shot up to $120 per ounce amid fierce competition for physical metal. A major source of uncertainty remains the upcoming renegotiation of the North American Free Trade Agreement between the U.S., Canada, and Mexico. Since Mexico and Canada are the main suppliers to the U.S. market, significant trade risks loom. Concerns about potential tariffs have already prompted banks and market participants to massively increase their holdings within the U.S. This domestic hoarding is draining important liquidity from the global market. According to BofA, this physical withdrawal is the main reason silver has recently managed to climb back above the $80 mark—even though physically backed ETFs are continuously recording outflows and the latest CFTC data signal rather subdued interest in new net long positions in the futures markets. Conclusion: In the short term, silver retains the potential for a breakout toward the $100 mark. However, the foundation for this rise is becoming more fragile. Investors betting on silver should keep an eye on the weakening industrial data, which could set tight time limits on the rally. Source： https://goldinvest.de/en/silver-why-the-usd100-mark-is-both-within-reach-and-dangerous

May 27, 2026 While precious metal prices on the exchanges appear to be stagnating, the physical market is showing unprecedented momentum. The British Royal Mint reports the highest trading activity in its history for the past fiscal year. While short-term interest rate fears are slowing down the paper markets, physical investors are consistently using the consolidation to diversify their portfolios—with almost unprecedented momentum in the silver segment. Online trading at the state-owned mint reached an all-time high. Although the Royal Mint traditionally does not disclose absolute tonnages, the percentage increases quarter-over-quarter illustrate the scale: Gold Boom: Sales of capital gains tax-free gold bars and products rose by 94% compared to the same quarter last year. Silver sensation: Demand for physical silver bars skyrocketed by 1,000% during the same period. Online activity: Transaction volume on royalmint.com climbed by 130% year-over-year. The Silver Phenomenon: Profit-taking Meets Massive Buyer Demand Silver attracted particular attention in the first quarter (January through March). Due to the temporarily high prices, some investors locked in profits, causing the value of silver products sold back to the Royal Mint to rise by a spectacular 3,300%. However, there was no broad market pullback. Buyers continued to clearly dominate the market: For every ounce of silver that customers sold back to the Royal Mint, two ounces were newly purchased (a buy-to-sell ratio of 2:1). This underscores the fundamental and long-term optimistic stance of physical investors toward the silver trend. Structural Change: Record Number of New Customers and Digitalization The record figures are based on a massive expansion of the investor base in the 2025/26 fiscal year: Customer Growth: The number of active precious metal buyers and sellers on the platform rose by 49%. New Customer Ratio: A sensational 60% of all active customers in the past year were first-time buyers. The fourth quarter marked the quarter with the highest number of new customers in the history of the Royal Mint. DigiGold as a Driver: The duty- and VAT-free digital offering “DigiGold” is establishing itself as a key pillar and already accounted for 54% of all transactions. The precious metals market is showing a clear dichotomy: on the one hand, there are short-term macroeconomic headwinds such as interest rates. On the other hand, there is a determined, long-term-oriented group of buyers. Stuart O’Reilly, Private Wealth Consultant at the Royal Mint, sees this as a fundamental and lasting shift in asset allocation: Private investors are increasingly viewing gold and silver not as speculative investments, but as strategic protection against inflation and stock market volatility. In his view, the fact that the influx of new customers continues despite the recent price consolidation demonstrates the long-term investment horizon of this new generation of investors. Source： https://goldinvest.de/en/gold-and-silver-royal-mint-reports-unprecedented-demand-for-physical-precious-metals

May 31, 2026 Over the past two weeks, the price of gold has failed to recover further. Instead, its failure to break through the falling 50-day moving average increased downward pressure, causing gold to be pushed back down to $4,366 this morning—and thus to the 200-day moving average—amid the resurgent Iran crisis. Silver presents a similar picture; here, even lower price targets are in play. Overall, precious metals have been in a healthy but treacherous and confusing correction since the end of January, one that is likely not yet over. The ongoing conflict in the Middle East remains the dominant and highly unpredictable risk factor for commodity and financial markets . A sustainable solution does not appear to be in sight. Rather, physical oil and gas shipments through the Strait of Hormuz remain well below pre-crisis levels. Europe’s reserves have so far cushioned the supply bottlenecks but are now nearing depletion. As long as the logistical bottlenecks remain unresolved, volatility will stay high. In addition, the vulnerability of financial markets is increasing. Short-term signs of peace can abruptly push oil prices down, while setbacks or military escalations drive them back up just as quickly—an environment in which precious metals are also suffering. On the macro side, however, the dilemma for risk assets is intensifying, particularly for the heavily overbought stock markets. The recent price increases caused by rising energy prices heighten the risk of accelerating inflation, meaning central banks could be forced to raise interest rates and tighten monetary policy. Whether the central banks can actually implement this at all, given the complex and fragile starting point, remains questionable, however. However, the mere expectation of higher real interest rates could put further pressure on the gold price, even if this interest rate trend ultimately fails to materialize. At the same time, rising energy prices are supporting the inflation outlook and, in the long term, the demand for inflation-protected assets . China continues to shift into gold Chinese holdings of U.S. Treasury bonds, as of May 25, 2026. © Bloomberg At the same time, China’s holdings of U.S. Treasuries have fallen to their lowest level since 2008, while official gold reserves continue to rise. China is thus consistently shifting assets from dollars to gold. However, the decline in Treasury holdings is also, to some extent, a matter of accounting. A significant portion of China’s reserves was apparently held through custodians such as Belgium or transferred to the balance sheets of state-owned banks. Economically, the exposure to U.S. Treasury bonds thus remains, even if it no longer appears directly under China’s name in official statistics. The composition has therefore changed more significantly than the actual risk. What is changing, however, is the nature of sovereign risk management. Like other strategically minded nations, China is gradually reducing its vulnerability to assets carrying political counterparty risk. While U.S. Treasuries are liquid and deeply traded, they ultimately remain claims within a Western-dominated financial system. Under extreme conditions, they can be frozen or subject to sanctions. Gold, on the other hand, has no issuer, no counterparty risk, no digital barriers to access, and has been money for millennia. The Chinese are not seeking an abrupt exit from the Western financial system, but rather a reduction in dependence and greater freedom of action. Nevertheless, the price of gold has been in a correction since the end of January, which, in our view, is more than justified and, above all, healthy following the spectacular gains of the past three and a half years. Semiconductor Boom vs. Dot-Com Bubble, May 27, 2026. © The Great Martis The only real cause for concern is that stock markets have recently surged into parabolic price movements amid a very fragile, geopolitically strained environment. The AI rally has driven semiconductor stocks in particular into completely overvalued territory: The semiconductor sector is currently more overbought than it has been in twenty years. NVIDIA is trading at a trailing P/E ratio of around 33 and has posted a 44% gain in the last two months alone. Micron Technology has seen its share price rise by 1,450% over the past 14 months! Margin levels (i.e., speculative trading on credit) stand at approximately $1.3 trillion (5.2% of GDP), exceeding the peak levels of 2008 and the dot-com era. Should a reversal and correction occur here, precious metals are likely to be dragged down with them in a temporary liquidity crunch. That is why we would like to mention our worst-case scenario of $3,500 for the gold price once again at this point. Gold – Our price target “200-day line” was reached today Gold in US dollars, daily chart as of May 28, 2026. © GOLD.DE As suspected, the falling 50-day line ($4,628) has stopped the gold price twice on its way up over the past six weeks. In light of this difficult-to-overcome and psychologically burdensome barrier, a new, sharp downward wave began on May 12, which today reached our repeatedly mentioned price target in the form of the 200-day line ($4,392). This means that, in our view, the bulk of the correction potential for the gold price has been exhausted for now. We had consistently emphasized that the first support level at the 200-day moving average of $4,100 from March 23 did not constitute a sufficiently solid foundation. However, the problem is that the silver price has not yet reached its 200-day moving average (US$66.56) during the correction that has been underway since late January, and no real panic has yet been observed in the precious metals sector. Despite the already oversold conditions in the gold market, we would therefore not be surprised to see the correction continue down to the lower Bollinger Band on the weekly chart ($4,289). Overall, the price action reflects a typical spring correction. We already see buying opportunities again between $4,250 and $4,400. We initially expect a bottom to form in this range, which should then lay the foundation for a foreseeable recovery and the summer rally. Conclusion: Gold – Correction Continues, Buying Opportunities Ahead Gold and silver have been undergoing a healthy but not yet complete correction since late January: Gold failed twice at the falling 50-day moving average and has now fallen back to its 200-day moving average. Silver, on the other hand, still faces significantly more downside risk, as the 200-day moving average has not yet been tested at all. Although a test of the lower weekly Bollinger Bands around $4,280 on the gold market would therefore not be surprising, we already see attractive entry prices between $4,250 and $4,400. However, macroeconomic and geopolitical risks remain high and are increasing volatility in the short term: The Iran crisis and the ongoing bottlenecks through the Strait of Hormuz continue to weigh on commodity and energy markets and weaken Europe’s security of supply. In the long term, however, China’s shift from U.S. Treasuries to gold supports demand for precious metals. Only a broad-based sell-off in the heavily overbought stock markets—driven by high margin leverage and an overheated semiconductor/AI rally—could also put gold under significant short-term pressure in the event of a liquidity crunch; our worst-case scenario therefore remains $3,500. Source： https://goldinvest.de/en/gold-correction-continues-buying-opportunities-are-emerging