|

Switzerland gold imports at highest

ByVictoria

Gold imports to Switzerland from the United States jumped to the highest monthly level since at least 2012 in April after the exclusion of precious metals from U.S. import tariffs, Swiss customs data showed on Tuesday.

The Swiss data showed that gold imports from the U.S. rose to 63.0 metric tons in April from 25.5 tons in March. It was the highest in monthly data going back to early 2012.

Switzerland’s total gold exports fell by 31% month on month in April with gold deliveries to the U.S. dropping to 12.7 tons from 103.3 tons in March.

Source – Reuters

Similar Posts

  • /

    Gold in demand, up .1%

    ByVictoria
    0 Comments

    Gold prices touched a three-week high on Monday, supported by demand for safe-haven bullion after U.S. President Donald Trump threatened to impose a 30% tariff on imports from the European Union and Mexico.

    Spot gold was up 0.1% at $3,359.69 per ounce, as of 0637 GMT, after hitting its highest point since June 23 earlier in the session. U.S. gold futures rose 0.3% to $3,373.30.

    “We are seeing safe-haven demand coming back into the picture due to this uncertainty on the implementation of U.S. global trade tariffs policy,” OANDA senior market analyst Kelvin Wong said.

    “Near-term outlook looks positive for gold and if gold prices are able to have a daily close above $3,360, it could potentially advance higher towards the next resistance level at $3,435.”

    Spot silver gained 1.5% to $38.93 per ounce, platinum fell 1% to $1,384.81 and palladium fell 0.7% to $1,208.15.

    Source – Reuters

  • /

    10lbs gold nugget up for auction

    ByVictoria
    0 Comments

    In 1979, a couple using a metal detector in the Kalgoorlie Goldfields of Western Australia located a massive gold nugget. Known today as the “Golden Beauty,” the nugget weighs in at nearly 10 pounds.

    It is currently on the auction block. According to Heritage Auctions, the opening bid was $400,000.

    At the current spot price, the gold is worth around $481,800.

    “Gold always has been enormously popular, in part because of its pure value and beauty, but also because it is exceedingly rare,” Heritage Auctions vice president of nature and science Craig Kissick said.

    Source – Money Metals

  • / /

    Gold and Silver are surging

    ByVictoria
    0 Comments

    The price of gold of 99.5 per cent purity climbed Rs 500 to Rs 80,900 per 10 grams. It settled at Rs 80,400 per 10 grams in the previous trading session.

    Silver also surged Rs 2,300 to Rs 94,000 per kg from the previous close of Rs 91,700 per kg on Wednesday.

    “Gold surged higher trading above Rs 79,000 in MCX, supported by a rupee depreciation,” Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said.

    Source – Press Trust of India

    More Info!

    Rs (abbreviated) is a financial term that you may or may not be familiar with. I have 2 descriptions for this abbreviated term. Rs stands for Relative Strength.

    • A strategy used in momentum investing and in identifying value stocks. It focuses on investing in stocks or other investments that have performed well relative to the market as a whole or to a relevant benchmark.
    • (In stock) a technical analysis indicator that measures the performance of a stock relative to a market index or another stock.
  • /

    Copper futures up 5%

    ByVictoria
    0 Comments

    U.S. copper futures rallied nearly 5% on Wednesday, rising more than other global benchmarks, after President Trump said imports of the metal would be subject to a 25% tariff; the front-month May Comex contract (HG1:COM) currently +4.6% at $4.76/lb.

    Trump’s comments in last night’s speech to Congress sparked a surge in Comex copper prices in Asian hours, as traders reacted to the possibility that copper tariffs could be larger than expected.

    “A 25% tariff was clearly not what the market was expecting before those comments, and now traders are scrambling to price in the correct level, whatever that might end up being,” Saxo Bank’s Ole Hansen said. “Whatever the final tariff is, the disruption to global trade flows is very real.”

    Source – Seeking Alpha