Anglo American said it does intend to sell the remainder of its retained shares over time, and said that it will not hold any representation on the Anglo American Platinum board after the split.
Source – Morning Star
Spot gold shed 0.4% to $2,927.95 an ounce by 1204 GMT. Bullion has gained around 1.6% this week after rising to a record $2,954.69 on Thursday.
“The non-stop rally since December remains unchallenged unless prices drop to around $2,850,” said Ole Hansen, head of commodity strategy at Saxo Bank.
“Gold has been displaying resilience with short-lived retracements, as lingering U.S. trade uncertainties reinforce its appeal as a hedge,” IG market strategist Yeap Jun Rong said.
Spot silver was flat at $32.92 an ounce, and palladium dipped 0.3% to $974.75. Both metals were headed for weekly gains.
Platinum shed 0.2% to $976.80 and eyed a weekly decline.
Source – Reuters
“Gold continues its bull market that we’ve been talking about really now for a couple of years ever since gold was down to $1,800,” DoubleLine Chief Executive and Chief Investment Officer Jeffrey Gundlach told investors on a call he hosted that was held this week, but before gold futures reached the $3,000 per ounce milestone for the first time.
“I’d be so bold to say I think gold will make it to $4,000. I’m not sure that’ll happen this year, but I feel like that’s the measured move anticipated by the long consolidation at around $1,800 on gold,” he said.
Source – Market Watch
Jeffrey Edward Gundlach – is an American businessman, investor, and philanthropist. He is the founder of DoubleLine Capital an investment firm.
DoubleLine Capital – American investment management firm. Headquarters in Tampa, Florida.
Copper, yet to be included in Donald Trump’s widening list of tariff-hit products, continues to rally on the assumption that it is just a matter of time, Saxo Bank said in a note, as it sees a sooner-than-expected tightening of the global market.
Copper futures (HG1:COM) are up 2.8% so far this week, and 6.3% for the month.
The copper market is still awaiting the result of an investigation carried out under Section 232 of the Trade Expansion Act.
“As such an investigation normally takes months to be completed, it has left the door wide open for a massive profitable arbitrage between international prices and those in the U.S. being reflected through the High Grade futures contract in New York.”
Source – Seeking Alpha
The silver market has plunged during trading on Friday in the early hours, but it looks like the $35.50 region is in fact going to continue to offer support, as it was previous resistance, so you would anticipate a little bit of market memory here.
Source – FX EMPIRE
Spot gold fell 0.1% to $2,916.75 an ounce as of 11:55 a.m. ET (1655 GMT), after rising in the last three sessions. U.S. gold futures were flat at $2,925.
“We are just seeing some mild profit-taking pressure from recent gains, the underlying fundamentals are still bullish… Another thing that’s putting some mild pressure on the gold market is a rise in bond yields,” said Jim Wyckoff, senior market analyst at Kitco Metals.
The benchmark 10-year U.S. Treasury yield hit a more than one-week high, reducing the appeal of non-yielding gold.
Spot silver dipped 0.2% to $32.70 an ounce, palladium was steady at $942.25 and platinum was down 0.3% at $966.63.
Source – Reuters
Founding Member Spotlight: Bullion & Coin Exchange
We’re proud to welcome Bullion & Coin Exchange as a Founding Member of the Victorias Coin-National Gold & Silver Dealer Directory.
Serving Arizona for decades, Bullion & Coin Exchange has built a reputation for honest pricing, exceptional customer service, and deep industry knowledge. Their team is committed to helping customers buy and sell gold, silver, and rare coins with confidence.
One of their strongest distinctions is their Recommendation from the U.S. Mint, a rare and respected endorsement that reflects their integrity, professionalism, and long‑standing commitment to the precious metals community.
What They Offer
Check out this business if you’re in the Mesa area of Arizona. Here is their listing on the Arizona page to get more info.
-V.
