On April 1, 2025, 24 carat gold is priced at ₹89,330/10 gm, according to data on the Indian Bullion Association (IBA) at 10.15 am. Further, 22 carat gold is priced at ₹81,886/10 gms. Gold bullion prices have remained steady over the past 24 hours.
Silver meanwhile, is priced at ₹1,01,200/kg (Silver 999 Fine) at 10.15 am on April 1, according to the IBA website. On the MCX index, the price of Silver has increased by ₹834 to ₹1,00,899/kg.
Source – Live Mint
Gold
Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.
Silver
Silver declined below the $32.50 level as gold/silver ratio climbed above the 91 level.
Platinum
Platinum tests new lows as traders react to the strong sell-off in palladium markets, which are down by 3.4%.
Source – FXEMPIRE
The dollar fell to a one-week low against a basket of major currencies as oil prices declined and demand for safe havens waned. Investors can “breathe a sigh of relief that chances of a major escalation have been reduced,” Jefferies economist Mohit Kumar said. The DXY dollar index fell 0.4% to a low of 97.969.
Gold futures also fell, last down 1.8% at $3,334.50 a troy ounce, close to levels last seen before Israel launched strikes on Iranian nuclear facilities earlier this month.
Source – The Wall Street Journal
Futures – are contracts to buy or sell a specific asset at a future date.
The U.S. is expected to implement a 50% tariff on copper imports at the end of the week, but what happens next is anyone’s guess as talk of an exemption for Chile, the biggest U.S. supplier of the metal, and a potential U.S. and European “metal alliance” heats up.
“There remains uncertainty over country-based exemptions and a general sense of tariff fatigue,” wrote Natalie Scott-Gray, senior metals demand analyst at StoneX, in a note Tuesday. The European Union, meanwhile, looks to get a break when it comes to U.S. tariffs on steel, aluminum and copper.
President Donald Trump’s announcement on July 8 of the coming tariff had led to a 13% spike in copper prices that day, to settle at $5.6855 a pound, a record-high finish at that time, based on data going back to 1968, according to Dow Jones Market Data.
Scott-Gray said that when it comes to a potential country-based tariff exemption, Chile is “singled out,” not just because of Marcel’s comments and ongoing negotiations this week, but because the U.S. is reliant on Chile’s imports and the fact that the U.S. holds a trade surplus with Chile, she said.
Source – Market Watch
As many countries mine for their gold and help their economies in the process, the United States is not the number country in gold.
According to Luciano Duque, chief investment officer of C3 Bullion, China leads global gold output — followed by Australia, Russia and Canada before the U.S. rounds out the top five. -Source https://www.msn.com/en-us/money/markets/where-does-the-us-rank-among-the-worlds-gold-producers/ar-AA1w1PiK?ocid=socialshare
There are many benefits to gold and as every day passes it’s growing in price and demand. Many investors will be looking out at the production and where it’s expanding.
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Texans are to be allowed to pay with with gold and silver for everyday transactions after Governor Greg Abbott signed House Bill 1056 into law. The law, which was championed by Republican state representative Mark Dorazio, designates the precious metals as legal tender in the state.
Texans will be able to use their gold and silver holdings, stored in the state’s bullion depository, for payments through electronic systems such as mobile apps or debit cards.
The provision comes after legislative debate, and takes effect on May 1, 2027, enabling transactions based on the state comptroller’s valuation of the metals at the time of sale.
Source – Newsweek
Legal Tender – officially recognized money
Silver has initially fallen significantly in the early hours of Tuesday, as the market reacted to the ceasefire, taking out some of the “risk trade.” However, we are holding the range again. Ultimately, there are a lot of “moving pieces” to pay attention to.
Source – FX EMPIRE
