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Gold in demand, up .1%

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

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    Gold prices down after trade truce

    Gold prices have fallen almost 10% from a record high just above $3,500 per ounce in April as a de-escalation in U.S.-China trade tensions punctured momentum, but analysts are sticking with a bullish outlook due to strong underlying support for the metal.

    Spot gold was trading around $3,180 an ounce on Friday, leaving prices on track for their worst week in six months.

    “Gold prices are more likely to rise than to fall from this stage onwards as other factors like central bank demand and very strong investor demand from China are not going away anytime soon,” said Nitesh Shah, commodities strategist at WisdomTree.

    Source – Reuters

  • Arizona “Copper State”, growing demand for ore raises fears to locals

    First, I had no idea that Arizona has a couple of nicknames one of them being “Copper State”. Pretty interesting fact.

    I wanted to share this article because there are mining companies here in the United States that are not talked about enough or just don’t get attention. Being interested in precious metals myself, I’d like to know what’s going on with this particular interest and certain information whether it pertains to me or not, but I felt this was interesting because the locals of this area in Arizona are having to deal with certain changes.

    I would like to include more of these types of articles in the future if anyone is interested but all things precious metals deserve to be know, I feel.

    News!

    One of North America’s largest known undeveloped copper deposits, with visions of multiple open pits and a tailings dump stretching down from the mountains toward the narrow Sycamore Canyon’s far rim.

    “You come here for some peace and quiet,” Corona de Tucson resident Kevin Kennedy said, “and a mine is anything but.” reported Brandon Loomis

    The neighbors and regional environmental groups all make the case that the Sky Islands in general and the Santa Ritas in particular are no place for a massive new mine with multiple open pits. The mountains are home to rare birds and occasionally rarer mammals, like the jaguar, and are considered one of the nation’s most biologically diverse mixing zones of tropical, desert and Rocky Mountain species.

    “There are places that are so precious that they shouldn’t be mined,” said Rob Peters, who directs the local advocacy group Save the Scenic Santa Ritas.

    Source – Arizona Republic

    Would you like to see more?

    I will soon do an article on copper and it’s investing benefits, pros and cons in the near future but please let me know if this is something you would like to see or if you like the news style.

    It’s been quite fun posting updates on the precious metals world, and I’d like to know your point of view, likes or dislikes. I would like to hear from you!

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    China’s gold reserves rise over $73 million

    China’s gold reserves rose to 73.61 million fine troy ounces at the end of February from 73.45 million at the end of January, as the central bank kept buying the precious metal for a fourth straight month.

    “The PBOC’s purchases are an important factor underpinning gold, so a continuation of its buying in February could help to build further strength behind the gold price,” said Frank Watson, market analyst at Kinesis Money.

    “Unlike investors, central banks are relatively price insensitive to gold and tend to buy as part of a restructuring of their reserve holdings,” Watson said.

    Source – Reuters

  • US Treasury yields down

    Investors are expecting a packed week of economic data starting with the Chicago Fed National Activity Index for January out on Monday at 8:30 a.m. ET. This will be followed by the Dallas Fed Manufacturing Index at 10:30 a.m.

    The most anticipated data for the week will be the personal consumption expenditure index, which will be delivered on Friday at 8:30 a.m. ET. The Federal Reserve’s preferred inflation gauge heavily influences the Fed’s rate-cutting decisions.

    Source – CNBC

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    HAPPY NATIONAL COIN WEEK!

    Hey Numismatics!

    I’m sure that you’re looking for coins in honor of National Coin Week and you’re getting rare coins on eBay, Whatnot, Instagram or whatever you online buying you can find. Well, here you can find reputable coin and bullion dealers to buy in person and skip the shipping costs to get your coins.

    If you’re looking for rare coins and are in the Chicago area, check out Harlan J. Berk. They have more than 50 years of expertise in the precious metals space. They have a dedicated space to do more research on pieces and even help you enhance your portfolio.

    Coins are a specialty at Arizona Coins & Collectibles in Tucson, AZ ranging from ancient to modern. You will see coins on the walls and over 45 years of experience. If you’re not in the area, they have an online eBay store you can visit.

    At Bullion & Coin Exchange in Mesa, AZ they are recommended by the U.S Mint. If you’re looking for coins they’ve got you covered and have 39 years of experience to show for it.

    If you’re close to Pittsfield, MA then Pittsfield Precious Metals is the place to be for gold, silver, and you guessed it COINS! They offer a variety of collectibles and professional coin grading services.

    • American Eagles
    • Silver Rounds
    • Maple Leafs
    • Ancient Coins
    • Modern Coins

    These are what you can find at these local gold and silver dealers and coins dealers. See their listings and visit their sites. You won’t be disappointed at any of these locations. Their combined experience and expertise will give you comfort knowing you are investing with the right people.

    Happy Coin Hunting friends! Good luck!

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    Can Silver break $35?

    The silver market continues to see a lot of noisy trading, after initially gapping higher, and then dropping. Since then, we have seen a massive number of buyers. Silver is a market that continues to see a lot of volatility.

    Ultimately, this is a market where if we can break above the $35 level cleanly, then I think we will go back to the highs and then eventually go much higher than that.

    Source – FX EMPIRE / Tech analysis