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Gold edges lower, the dollar strengthens

ByVictoria

Gold prices eased on Monday on a firmer dollar, in thin, holiday-season trade and as investors sought further clues on the U.S. Federal Reserve’s monetary policy for next year after its latest meeting signaled easing would be gradual.

“Presently, we are in a lull for Christmas week with the gold price trending sideways. Federal Reserve policy is clear with expectations of rising interest rates in the second half of the year,” said Michael Langford, chief investment officer at Scorpion Minerals.

Source – Reuters / written by Anushree Mukherjee

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    Silver up 1.2%, dollar hits lowest in months

    ByVictoria
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    Silver gained as much as 1.2%, rising for a third day. A guage of the dollar hit the lowest in about three months, as the euro strengthened amid Germany’s plan to boost spending and loosen borrowing restrictions.

    The “tidal wave” of silver risks pushing freely available silver in the London spot market below a critical threshold needed for the market to function, Daniel Ghali, a senior commodity strategist at TD Securities, recently wrote in a note.

    Spot silver rose 0.9% to $32.262 an ounce as of 11:41 a.m. in London. The Bloomberg Dollar Spot Index fell 0.4%. Gold and palladium were little changed, while platinum advanced.

    Source – Mining.com

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    Robert Kiyosaki predicts colossal market crash

    ByVictoria
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    “GIANT MARKET CRASH here. Q: How can I be so bullish on gold, silver, and Bitcoin? A: Because the idiots running the Fed, Treasury, Banks, and Wall Street only know how to print money, which makes things worse. FYI: When fake money is printed the rich, who own real assets get richer…. while the poor and middle class, who save fake money, get poorer due to inflation and taxes. Let inflation make you richer, not poorer. Save gold, silver, and Bitcoin. Take care. Crash is here,” Kiyosaki wrote

    Source – Benzinga

    Robert Kiyosaki is an American businessman and author of ‘Rich Dad, Poor Dad’ and other personal finance books.

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    Gold rate in major cities in India

    ByVictoria
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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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    Goldman Sachs forecast on copper

    ByVictoria
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    Goldman Sachs says U.S. net copper imports could rise by 50%-100% in the coming months due to higher U.S. prices before the Trump administration’s planned tariffs, which the bank believes will be imposed at 25% and lead to the surge in imports and a 200K-300K-ton increase in U.S. copper inventories by the end of Q3.

    “We maintain our forecast that the LME month-month price will average $10,200/ton in 2024 Q3, and see the impact of inventory dislocation predominantly in timespreads,” the bank writes.

    Source – Seeking Alpha

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    Silver reached a new record high

    ByVictoria
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    New Delhi, Jul 14 (PTI) Silver prices skyrocketed Rs 5,000 to hit a fresh peak of Rs 1,15,000 per kg in the national capital on Monday as investors rushed to safe-haven assets following weakness in the US Dollar amid uncertainties over US tariff threats.

    “Silver prices are surging, reaching a new record high in the domestic market and hitting the highest level in almost 14 years in the international market. This rally is driven by a change in investor interest toward alternatives to gold,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

    Source – Press Trust of India