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Gold fell, Silver up, Platinum up 1.7%

Gold prices edged lower on Thursday, weighed down by easing geopolitical tensions in the Middle East and continued uncertainty over the Federal Reserve’s interest rate trajectory.

Spot gold fell 0.5% to $3,316.47 per ounce, as of 0933 a.m. EDT (1333 GMT). U.S. gold futures slipped 0.4% to $3,329.20. 

Palladium lost 2.5% to $1,084.41. Platinum climbed to its highest level since September 2014, adding 1.7% to $1,377.62.

Spot silver was up 0.2% to $36.39.

Source – Reuters

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    Gold prices extend gains

    Spot gold was up 1.3% at $3,122.02 an ounce at 1129 GMT, after its biggest daily gain since October 2023 on Wednesday. U.S. gold futures were up 1.9% at $3,137.80.

    “We’re just living in a world of extreme uncertainty. We just don’t really know which way this trade war is going to go … I think for the course of this year, gold will march higher,” said Nitesh Shah, commodities strategist at WisdomTree.

    Spot silver fell 0.6% to $30.85 an ounce, platinum lost 0.4% to $933.55, and palladium was down 1.7% at $915.68.

    Source – Reuters

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    Gold and Silver up, weak dollar

    Spot gold gained 0.8% to $3,340.53 an ounce as of 0300 GMT, after hitting its highest level since May 9.

    U.S. gold futures rose 0.9% to $3,341.90.

    “Gold’s bullish reversal is supported by a weaker U.S. dollar and lingering stagflation risks in the U.S. economy,” said Kelvin Wong, senior market analyst, Asia Pacific at OANDA.

    Spot silver rose 0.5% to $33.54 an ounce, platinum gained 0.1% to $1,077.33 and palladium lost 0.6% to $1,031.46.

    Source – Reuters

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    Aya Gold & Silver down

    Shares of Aya Gold & Silver were down Friday after the company reported lower silver production than analysts expected in the fourth quarter.

    The stock retreated 15% to 10.85 Canadian dollars ($7.58).

    Silver production in the fourth quarter totaled 491,310 ounces, compared with 450,046 ounces in the same period a earlier.

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    Idaho House Bill 40 to end taxes on gold and silver

    Idaho yesterday formally ended state income taxes on gold and silver as part of its largest tax cut in state history.

    House Bill 40, sponsored by House Speaker Mike Moyle and begrudgingly signed by the state’s liberal Republican governor Brad Little, provides a sweeping $253 million income tax cut for Idahoan taxpayers by lowering the rate from 5.695% to 5.3% while also adding two specific exemptions.

    Moyle said today, “I’m proud to help secure another $253 million in income tax cuts for Idaho families. Meanwhile, it makes no sense for Idaho to tax gold and silver, the only money mentioned in the U.S. Constitution.”

    Source – Money Metals

  • Three men on trial over stolen GOLD toilet

    The one-of-a-kind 18-carat gold toilet was swiped in under five minutes from Blenheim Palace, the sprawling English country mansion where British wartime leader Winston Churchill was born, in the predawn hours of September 14, 2019, a prosecutor told jurors Monday.

    The toilet has never been recovered but is believed to have been cut up and sold.

    All the defendants have pleaded not guilty.

    Source – CNN

    I thought this was interesting and thought I’d share. I’m not entirely surprised that something was stolen I am surprised that the burglars got away with the darn thing! I feel like this is actually kinda funny but hopefully justice will be served. – V.

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    Silver prices climbing

    The metal is showing strong upside potential, with the next target range between $34.87 and $35.40. However, traders should remain cautious as silver is currently well above key support levels at $32.53 and the 50-day moving average at $31.75​.

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