|

Gold in demand, up .1%

ByVictoria

Gold prices touched a three-week high on Monday, supported by demand for safe-haven bullion after U.S. President Donald Trump threatened to impose a 30% tariff on imports from the European Union and Mexico.

Spot gold was up 0.1% at $3,359.69 per ounce, as of 0637 GMT, after hitting its highest point since June 23 earlier in the session. U.S. gold futures rose 0.3% to $3,373.30.

“We are seeing safe-haven demand coming back into the picture due to this uncertainty on the implementation of U.S. global trade tariffs policy,” OANDA senior market analyst Kelvin Wong said.

“Near-term outlook looks positive for gold and if gold prices are able to have a daily close above $3,360, it could potentially advance higher towards the next resistance level at $3,435.”

Spot silver gained 1.5% to $38.93 per ounce, platinum fell 1% to $1,384.81 and palladium fell 0.7% to $1,208.15.

Source – Reuters

Similar Posts

  • /

    2025-S American Women Quarters Proof set on sale late February

    ByVictoria
    0 Comments

    Quarter dollars in the set are produced at the San Francisco Mint and will feature reverse designs recognizing, in order of release, Ida B. Wells, a founder of the National Association for the Advancement of Colored People; Juliette Gordon Low, founder of the Girl Scouts of the United States of America; Dr. Vera Rubin, trailblazing astronomer; Stacey Park Milbern, disabilities rights advocate; and Althea Gibson, accomplished amateur tennis player and professional golfer.

    The clad composition comprises outer layers of an alloy of 75% copper and 25% nickel bonded to a core of pure copper.

    Source – Coin World

  • /

    BHP Group may sell Australian operations

    ByVictoria
    0 Comments

    Mining giant BHP Group flagged rising costs and delays at a giant potash project in Canada and said it may sell its Australian nickel operations, as it reported record annual iron ore and copper production.

    The company said Friday it faces rising costs at the Jansen potash project in Canada’s Saskatchewan province, its only major development currently under construction.

    The company said it is also reviewing Jansen’s second stage, which is roughly 11% complete. BHP may delay first production from that expansion by two years, to fiscal 2031, because it reckons there might be more potash supply coming into the market over the medium term than previously envisaged.

    BHP said it expects to produce between 1.8 million and 2.0 million tons of copper in the year ahead.

    Source – The Wall Street Journal

  • Gold and Silver may be adopted as Legal Tender in Florida

    ByVictoria
    0 Comments

    This is revolving a bit around politics but hey we need to stay with the times when we look at our investments and retirement interests. Our investments DO revolve around what the world is going through and we need to base our decisions on real life real world problems. This is an important part of investing and paying attention to trends if you are so inclined to invest or use or investments in the direction you feel it needs to go.

    Let’s stay in tune with what’s going on and learn about today’s topic.

    Well, this news happened a couple days ago but it’s still relevant today as things change before we know it!

    News!

    Currently in Florida, there is an open House seat in District 1. Trump backed candidate Jimmy Patronis wants the Sunshine State to adopt gold and silver as legal tender and has called for a study on the issue.

    “Gold and silver have been trusted assets for thousands of years, and it makes perfect sense to use them as legal tender. I’m launching this study to determine the best way to get it done,” Patronis said in a statement included in a press release earlier this week.

    For the full article and source https://www.msn.com/en-us/news/politics/trump-backed-candidate-aiming-to-replace-matt-gaetz-wants-florida-to-adopt-gold-and-silver-as-legal-tender/ar-AA1vR6dn?ocid=socialshare

    Additional Info

    Currently there are 11 states that use gold and silver coins as legal tender Utah being the first state to do so in 2011. This is a great shift we may see as states are either moving towards it or in talks of doing this. The positive for those who live in these states is the capital gains taxes would be eliminated on sales of gold and silver.

    For more info and map see source https://worldpopulationreview.com/state-rankings/gold-and-silver-legal-tender-states

  • Copper giant Peru foresees another production plateau in 2025

    ByVictoria
    0 Comments

    Peruvian copper production is expected to remain flat in 2025 for the third straight year, according to the country’s top mining association and industry analysts, as declining ore grades and a lack of new projects cap output.

    Peru’s top mining association SNMPE expects the country’s 2025 copper output to hit around 2.8 million metric tons, matching 2023 and what is expected for 2024, as miners contend with poorer-quality resources and development bottlenecks for new projects.

    “By 2025, Peruvian copper production is expected to be similar to this year’s expected 2.8 million tons,” said Victor Gobitz, SNMPE’s head, in an interview last week.

    Source – Reuters

  • /

    Silver undervalued to Gold

    ByVictoria
    0 Comments

    Although the high gold-silver ratio might suggest that silver has been a laggard, that is far from the case. Silver has rallied 43% in the past year, and gold has been just a bit better with a 44% gain. This year, using popular exchange traded funds as a gauge, iShares Silver Trust (SLV) is up 10% and SPDR Gold Shares (GLD) is up 11%.

    Source – Barron’s

  • /

    Gold prices fall, trade deal soon

    ByVictoria
    0 Comments

    Gold prices fell on Thursday, reversing earlier gains, as U.S. President Donald Trump hinted at a potential trade deal with Britain, easing trade tensions and reducing the precious metal’s appeal as a safe-haven investment.

    Spot gold was down 0.7% to $3,342.22 an ounce, as of 1157 GMT. U.S. gold futures slipped 1.3% to $3,347.90.

    “As it becomes confirmed that there is some sort of trade deal in the wings that could help to firm up the dollar a bit and take some of the steam off of gold,” said Nitesh Shah, commodities strategist at WisdomTree.

    Spot silver eased 0.2% to $32.40 an ounce, platinum gained 0.6% to $979.91 and palladium fell 0.2% to $970.91.

    Source – Reuters