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Comex gold inventories see sharp rise since Trump’s victory; silver gains

ByVictoria

“The uncertainty surrounding Trump’s first measures as U.S. president fuelled demand for gold as a safe haven. This can be seen, among other things, in the strong inflow of more than 10 tons into the world’s largest and most liquid gold ETF on Friday,” Commerzbank Research said.

“The uncertainty as to whether tariffs will be introduced on gold and silver has already left visible traces on the Comex in recent weeks. In addition, the price premium for gold on the Comex has widened significantly compared to the spot price in London.”

Source – Seeking Alpha

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    Gold steady, tariff announcement

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    Spot gold was at $3,026.85 an ounce at 1131 GMT. U.S. gold futures edged 0.4% higher to $3,032.40.

    “A modestly weaker dollar is probably giving gold a little bit of a tailwind at present,” said Ross Norman, an independent analyst.

    “A worse-than-feared tariff announcement on April 2 could give bullion bulls a shot in the arm towards striving for the $3,100 mark,” said Han Tan, Exinity Group’s chief market analyst.

    “Should risk-on sentiment make a comeback, assuming the U.S. tariff threats prove to be more bark than bite, that could see fleeting forays below $3,000,”

    Spot silver firmed 0.4% to $33.16 an ounce, platinum steadied at $975.55, and palladium was flat at $957.95

    Source – Reuters

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    Gold rate in major cities in India

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    The second-largest consumer of gold in the country is India, after China. The country meets majority of its demand for gold through imports, along with locally recycled bullion.

    Source – ABP News

    All cities with gold rates listed in the link

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    Robert Kiyosaki Says Buy Silver ASAP

    ByVictoria
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    “I HATE to say this…. But the banking crash Jim Rickards, Jim Rogers, Ray Dallio and I have been warning you about has started. Even if you have very little money you may still be able to profit from this crash. All you need is a few extra dollars…. Because you can still afford to buy a few real silver coins… before silver double[s] and triple[s],” Kiyosaki wrote.

    Source – Nicholas Morine / GOBankingRates

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    Gold up .6%, dollar weak

    ByVictoria
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    Spot gold was up 0.6% at $3,373.09 an ounce, as of 0552 GMT. U.S. gold futures gained 1.5% to $3,393.80.

    The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that a “bullish breakout” of the $3,346 resistance triggered technical buying.

    Spot silver was up 0.4% at $36.38 per ounce, platinum rose 1.2% to $1,271.15, still hovering near a more than 4-year high, while palladium was down 1.1% at $1,068.19.

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    Copper edges higher, tariff worries investors

    ByVictoria
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    “The market is really trying to understand how aggressive these potential tariffs could be and I think the problem is no one really knows the answer,” said Nitesh Shah, commodity strategist at WisdomTree.

    Alastair Munro, senior base metals analyst at Marex, said copper found some support from contrarian buying from some Commodity Trade Advisor (CTA) investment funds, which are largely driven by computer programs.

    Source – Reuters / Live Mint