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Gold holds with little change

Spot gold fell 0.1% to $3,030.13 an ounce, as of 09:35 a.m. ET

“There are concerns that tariffs could spark inflation, and there’s a consensus that despite rising prices from U.S. tariffs, the Federal Reserve might start easing policy around mid-year,” said Bart Melek, head of commodity strategies at TD Securities.

“I expect gold to trade roughly where it is now, give or take about $25,” Melek said.

Spot silver dropped 1.2% to $33.61 an ounce, platinum lost 1.6% to $980.90 and palladium fell 0.8% to $959.20

Source – Reuters

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    Gold prices fall as yield rises

    Spot gold fell 0.2% to $2,634.52 per ounce by 2:27 a.m. ET (1927 GMT). U.S. gold futures settled 0.3% lower at $2,647.40.

    “Bond yields are back up again, placing pressure on gold,” said Nitesh Shah, commodity strategist at WisdomTree.

    “There’s speculation that Trump is going to pull back on tariffs … If (the prices of) commodities go up, inflation’s going to remain higher for longer,” Phillip Streible, chief market strategist at Blue Line Futures, said.

    Source – Reuters

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    Gold on week high, Silver up 1%

    Gold prices rose for a third straight session on Wednesday and hit a one-week high, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty.

    Spot gold was up 0.7% at $3,312.51 an ounce, as of 1153 ET (1553 GMT). U.S. gold futures climbed 0.9% to $3,315.60.

    “We expect gold’s recent price dip will stimulate investment buying, as macroeconomic and geopolitical uncertainty linger,” said ANZ in a note.

    Silver rose 1% to $33.40 an ounce.

    Platinum was up 2.1% at $1,075.59 after hitting its highest since May 2024 earlier. Palladium added 1.8% to $1,031.05, an over six-month peak.

    Source – Reuters

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    Vizsla Silver Corp. is a Strong Buy

    Vizsla Silver Corp. (VZLA) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates — one of the most powerful forces impacting stock prices — has triggered this rating change.

    The Zacks rating relies solely on a company’s changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure — the Zacks Consensus Estimate.

    For Vizsla Silver Corp., rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company’s underlying business. And investors’ appreciation of this improving business trend should push the stock higher.

    Source – Zacks.com

  • Over the Weekend!

    The Price Of Gold From 2021-22 Has Long Rejected ‘Bidenflation’

    Considering the price of gold throughout 2021, it averaged out to roughly $1,798/ounce, meaning the value of the dollar actually rose around 3 percent right at the time that the economy-sapping tax that is government spending continued under Biden, and allegedly caused “inflation.” To be clear, government spending is the worst tax of all exactly because it substitutes central planning of resources by the government for that of the private sector. Still, it logically doesn’t cause higher prices, or “inflation,” and it didn’t if gold is to be believed.

    Source – Forbes

    Silvercorp Metals Boosted By El Domo

    Silvercorp’s El Domo project in Ecuador is set to boost revenues by 50% when it begins operations and diversify operations reducing jurisdictional risk.

    Source – Seeking Alpha / Mountain Valley Value Investments

    Hope you had a LOVEly Valentines weekend!

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    Sacagawea gold coins may be produced by at the West Point Mint facilities

    If the United States Mint moves forward with plans to produce a 24-karat gold Sacagawea dollar on the 25th anniversary of the series in 2025, it will be the first time the issue is produced in .9999 fine gold.

    The bureau is considering producing the gold dollars at the West Point Mint with the facility’s W Mint mark. Bureau officials have not disclosed what finish would be used for the 25th anniversary gold dollars nor any mintage limit.

    The proposed 25th anniversary Sacagawea gold dollar will feature the designs that appeared on coins released into general circulation in January 2000, bearing the so-called “13 tail feathers,” with the same inscriptions as originally featured on the 2000 coins, with no mention of gold weight or fineness.

    Source – Coin World

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    Gold bounces back after month long low

    Markets initially dropped after Fed Chair Jerome Powell hinted at fewer rate cuts next year, but quickly recovered as investors recognized this aligned with recent expectations, said StoneX analyst Rhona O’Connell.

    “Gold sold off, showcasing once more that it is not an inflation hedge per se, but regained some lost ground on a threatened U.S. government shutdown,” said Carsten Menke, analyst at Julius Baer.

    Source – Reuters https://www.reuters.com/markets/commodities/gold-recovers-one-month-low-short-covering-2024-12-19/

    More!

    “Gold is reacting to a sharp rise in the U.S. dollar after a hawkish Fed cut,” said Michael Armbruster, co-founder and managing partner at Altavest. Source – Market Watch https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-rise-ahead-of-final-rate-decision-and-economic-forecast-of-the-year/card/gold-futures-decline-after-fed-announcement-WFThfHDv2mQxezfnO3an

    “Despite the pullback we’ve seen in gold prices following yesterday’s Fed statement, we believe gold’s positive momentum will continue in the short to medium term,” Manthey said by email. Source – CNBC https://www.msn.com/en-us/money/other/the-fed-s-hawkish-signal-sparked-gold-jitters-but-analysts-see-support-for-the-precious-metal-in-2025/ar-AA1wajju?ocid=socialshare