| |

Gold dips, Silver up .1%

ByVictoria

Gold prices dipped for a second straight session on Monday as U.S.-China trade tensions eased, and the market awaited data due this week.

Spot gold was down 0.6% at $3,297.10 an ounce as of 09:27 a.m. ET (1327 GMT). U.S. gold futures rose 0.3% to $3,307.80.

“The broader gold forecast and price direction remains constructive, even with some of its haven appeal diminishing,” said Fawad Razaqzada, market analyst at City Index and FOREX.com.

“Until we witness clear patterns of lower highs, lower lows, and firm trade agreements rather than more political bluster from the Trump administration, the prospect of fresh highs for gold cannot be dismissed.”

Spot silver eased 0.1% to $33.04, platinum gained 1.8% to $988.90 and palladium added 0.8% to $956.35.

Source – Reuters

Similar Posts

  • / /

    Toronto Stock Exchange energy losses offset mining

    ByVictoria
    0 Comments

    The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE)
    , opens new tab     held steady at 24,793.53 points, mirroring the sentiment on Wall Street.

    However, high silver and gold prices helped limit losses for Canadian stocks.

    “A lot of gains were experienced yesterday and today you are probably going to see muted markets,” Allan Small, senior investment adviser at Allan Small Financial Group with iA Private Wealth, said on Thursday.

    The Bank of Canada is expected to cut interest rates by 25 basis points to 3.00% when it meets later this month, according to a Reuters poll of economists.

    Source – Reuters

  • /

    Copper tariffs begin on August 1st, Chile “singled out”

    ByVictoria
    0 Comments

    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

  • /

    AngloGold to acquire Augusta Gold in Nevada expansion

    ByVictoria
    0 Comments

    AngloGold Ashanti (NYSE:AU) said Wednesday it agreed to acquire Augusta Gold (OTCQB:AUGG) for C$1.70/share in cash, implying a fully-diluted equity value of ~C$152M (US$111M).

    The price represents a ~28% premium to Augusta Gold’s (OTCQB:AUGG) closing price on the Toronto Stock Exchange on July 15.

    “This acquisition reinforces the value we see in one of North America’s most prolific gold districts,” AngloGold (AU) CEO Alberto Calderon said.

    Source – Seeking Alpha

  • /

    Job data shows gold impact

    ByVictoria
    0 Comments

    Gold lost its shine after upbeat US jobs data. It hits an intraday low of $3311 and is currently trading around $3323.

    The June 2025 U.S. Non-Farm Payrolls report demonstrated notable strength in the labor market, with 147,000 jobs added, substantially surpassing the consensus estimate of 110,000.

    According to the CME Fed Watch tool, the chances of a rate pause in the Jul 30th 2025, meeting have increased to 93.30% from 79.30% a week ago.

    Source – Econo Times

  • /

    Gold futures hold record high

    ByVictoria
    0 Comments

    Investors are increasingly seeking safe-haven in hard assets like gold, silver, copper and platinum, historically viewed as stores of value in times of financial uncertainty, Saxo Bank’s Ole Hansen says in a note.

    Source – Wall Street Journal

    More Info!

    Futures (in finance) – Are contracts to buy or sell a specific underlying asset at a future date.