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Gold Holds Near Record, Silver rallied

ByVictoria

Silver climbed as much as 3.1% to exceed $33 an ounce, while gold headed for a seventh weekly gain — the longest run since August 2020.

The president has already imposed 10% levies on Chinese goods and plans to slap 25% duties on all US steel and aluminum imports next month.

Spot silver rose 2.9% to $33.284 an ounce by 1:20 p.m. in London, taking this week’s gains to 4.6%. The Bloomberg Dollar Spot Index fell 0.2%. Gold, platinum and palladium were little changed.

Source – Bloomberg

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$3,000/oz milestone in sight for Gold

ByVictoria
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U.S. President Donald Trump’s latest tariff threats have ignited another gold rush, propelling the safe-haven metal to new heights and bringing the glittering $3,000 milestone into view.

Spot gold climbed to a record $2,911.30 a troy ounce on Monday – its seventh record peak to date in 2025. Prices are already up nearly 11% so far this year after a staggering 27% gain in 2024.

“Gold is very clearly targeting the $3,000 level and the market is incredibly strong, almost relentless. Now its only a question of when it will scale the level and not if it will,” independent analyst Ross Norman said.

Source – Reuters

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Scaling to level – In finance, is the ability of an organization to perform well under and increasing or expanding workload.

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Gold hits one-month high

ByVictoria
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Gold prices surged to a one-month peak on Thursday, nearing $2,700 per ounce, as softer U.S. inflation data fueled hopes of lower interest rates in 2025. Spot gold rose to $2,697.45 an ounce, while February gold futures climbed 0.4% to $2,728. Lower rates enhance gold’s appeal by reducing the opportunity cost of holding non-yielding assets.

Other precious metals saw mixed movement: platinum futures dipped 0.1% to $948.15 an ounce, while silver edged up 0.3% to $31.622.

Copper prices steadied after recent gains, with London futures rising 0.3% to $9,192.50 per ton.

Source – Econo Times

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Gold and Silver “Technical Scoop”

ByVictoria
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Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments. The result was a 3.0% gain for gold this past week and a close at the magical $3,000.

Other precious metals rose this past week. Silver was up 4.9%, while platinum gained 4.8% and is back over $1,000. Near precious metals saw palladium up 1.9% and copper gaining 4.0% as it marches towards $5.00.

Source – Silver Seek

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Silver sees 10-year peak

ByVictoria
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“Silver’s been a laggard, and some would refer to it as the Cinderella metal, because it always misses the ball. Having said that, silver has finally woken up and broken above some key technical resistance,” independent analyst Ross Norman said. If current momentum continued, silver could challenge the $35 level, he added.

“Silver has a long history of higher volatility than gold, and that when gold makes a decisive move, silver’s amplitude is usually 2.0-2.5 times that of gold,” StoneX analyst Rhona O’Connell said in a recent note.

Source – Reuters

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Fed’s Hawkish Stance Pressures Gold Prices

ByVictoria
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Gold prices dipped on Monday as thin holiday trading kept momentum in check. After last week’s sharp decline, gold is attempting to recover but faces resistance between $2607.25 and $2607.35. A breakout above $2629.13 is possible, but traders will need stronger volumes to drive further gains—something unlikely until after the New Year.

Treasury yields edged slightly higher to start the week, with the 10-year yield rising to 4.536% and the 2-year yield ticking up to 4.325%. Yields jumped last week following the Fed’s policy update but eased on Friday after softer-than-expected inflation data. The dollar held steady as markets processed the Fed’s outlook for 2025.

Source – James Hyerczyk / FXEMPIRE

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Gold rises, tariffs hit auto industry

ByVictoria
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Trump announced 25% tariffs on all vehicles and foreign-made auto parts imported into the United States late on Wednesday, prompting heavy losses in Japanese and South Korean stocks in Asian trading overnight.

General Motors slumped 6%, while shares in Ford fell almost 5%, reflecting concerns about the impact on their supply chains.

“Uncertainty on the tariff front remains high, which is really tough for both businesses but also investors to plan into the future, and of course it’s making it really difficult for investors to price risk,” said Baylee Wakefield, a multi-asset portfolio manager at Aviva Investors.

Gold prices rose, up 0.7% on the day at $3,040 an ounce. Goldman Sachs raised its gold price forecast on Wednesday, citing stronger-than-expected ETF inflows and sustained central bank demand.

Source – Reuters