Gold prices are higher in midday trading Thursday despite another U.S. inflation report that came in warmer than expected. Silver prices are slightly down. April gold was up $16.20 at $2,944.00. March silver prices were last down $0.095 at $32.69.
Source – KITCO News
Source – MSN
Idaho Strategic Resources Inc – is a resource based company that develops and extracts precious metals like gold, silver and base metal minerals in North Idaho.
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 closely watched final number had not previously been reported but Chairman Maximo Pacheco said earlier this week that 2024 output was “slightly higher” than the 1.325 million tons produced in 2023.
Source – Reuters
Source – Money Metals
Source – KITCO
Spot gold rose 0.5% to $2,663.79 per ounce, as of 9:55 a.m. ET (1455 GMT) and hit its highest since Dec. 13. U.S. gold futures gained 0.5% to $2,679.70.
Weaker private payrolls “is contributing to gold’s move, because ultimately, weaker employment numbers imply that the economy has been weaker than many had expected,” said Bart Melek, head of commodity strategies at TD Securities.
“The bigger factor will be U.S. nonfarm payrolls on Friday, the market is expecting a change of 163 (thousand); anything significantly above that will be negative for gold,” Melek said.
Source – Reuters