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Gold sees longest rally since 2020

ByVictoria

“During the last three days, gold is up over 8% and on pace for its largest three-day move since March 2020,” Bespoke Investment Group said in a note Friday morning. “Before that, you would have to go back to the financial crisis to find the last time it rallied as much in three days.”

“Gold may be catching a bid, but the dollar has floundered,” said Bespoke. “If you were looking for bonds to provide some ballast in your portfolio this week, you didn’t get it with Treasuries.”

Source – Market Watch

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    Gold stays steady investors take caution

    ByVictoria
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    “We’re going to need to see continued progress on inflation in order to bring back those interest rate cut expectations,” said Phillip Streible, chief market strategist at Blue Line Futures.

    “People are a little bit nervous, and they want to be cautious going into CPI tomorrow,” he added.

    Source – Reuters

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    Silver Continues to See Same Ceiling

    ByVictoria
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    The silver market continues to threaten the same barrier, which starts at the $32.35 level, and then reaches the $32.50 level before it is all said and done. Because of that, the market, I believe, is just simply grinding away or even pecking away, if you will, at the barrier that has been one of the biggest factors here in the silver market.

    Source – FXEMPIRE / Opinion

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    Freeport – McMoRan Inc is developing new technology

    ByVictoria
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    After 154 years of digging at Morenci, all the easily recoverable copper has been mined. Left behind are towering piles of waste rock that hold nearly 10 million tons of the metal seen as critical to global electrification. It’s a cache that could prove key to President Donald Trump’s ambition to boost US production of critical minerals.

    Freeport-McMoRan Inc., which owns Morenci, is trying to develop technology that can burrow within those gigantic waste piles and extract low-grade copper that miners previously saw as too expensive and difficult to process.

    “For a long time, we just didn’t think it was possible to recover any of this stuff,” said Robert Pollock, Morenci’s site manager, gazing up at a waste pile the size of a Manhattan office building. “But now, all this historical copper – we’re going after it.”

    Source – Bloomberg

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    Silver holding at $30ish, Can it keep up with Gold?

    ByVictoria
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    At 13:19 GMT, XAG/USD is trading $30.84, Unchanged.

    Prices have also remained above the pivot at $30.53, which keeps the short-, medium-, and long-term trends firmly upward.

    Daily Gold (XAU/USD)Gold, often viewed as silver’s counterpart, has outperformed with a breakout above $2,726.30, pushing prices closer to record highs at $2,790.17. 

    A sustained rally above $30.53 and a breakout over $30.98 may open the door for further gains, but for now, silver remains in gold’s shadow.

    Source – FXEMPIRE

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    Gold reaches Rs 83,000 per 10 grams for the first time

    ByVictoria
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    “Gold extended gains on Friday, with spot gold in the domestic market hitting fresh all-time highs,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

    “Prices in MCX are near record high as Trump trade policies and tariff plans created an uncertain environment in the market, which may boost safe-haven demand,” Deveya Gaglani, Research Analyst-Commodities, Axis Securities, said.

    Comex silver futures also increased 1.53 per cent to USD 31.32 per ounce in the Asian market hours.

    Source – Press Trust of India

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    Will gold reserves replace dollar?

    ByVictoria
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    The Reserve Bank of India (RBI) is not increasing the reserves of gold to replace any international currency, Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha.

    “Gold is also kept in the Reserve Bank and gold is also being bought by the Reserve Bank. But beyond that, as regards an international currency or potential currency, there is not much for me to comment at this stage,” FM Nirmala Sitharman said.

    “I think it is very typical of India, particularly for households of small businesses and, it is normally said, women, but general households also, and women also, to invest in gold because they think it’s far more secure and far more liquid” FM Nirmala Sitharaman said.

    “The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” Trump posted on Truth Social after assuming power as the President of the US.

    Source – Mint