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Gold lost .2%, Silver up, Platinum fell

ByVictoria

Gold eased on Monday due to slightly firmer U.S. Treasury yields and profit-taking following last week’s sharp rally driven by weak U.S. jobs data.

Spot gold lost 0.2% to $3,356.91 per ounce, as of 1051 GMT, after rising more than 2% on Friday.

“The market will remain range bound with today’s pullback being in line with some the reversals seen across markets following Friday’s big moves, especially yields which are a tad firmer and stocks which have seen a rebound,” Saxo Bank’s head of commodity strategy, Ole Hansen, said.

Spot silver rose 0.3% to $37.14 per ounce, platinum fell 0.3% to $1,311.38 and palladium was down 0.8% at $1,199.08.

Source – Reuters

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    Panama has approved First Quantum Minerals’ maintenance plan for its closed copper mine in the country, but not a re-start of the site, a top trade official said on Friday

    Trade and Industry Minister Julio Molto said the plan included environmental safety measures that were necessary following the abrupt shut-down by government order under the prior administration in late 2023.

    “The mine is not being reopened. We’re authorizing the implementation of the care and safe management plan to ensure it is environmentally protected,” Molto told a press conference.

    He said that experts estimate that process could take three to six months, accounting for environmental measures.

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    Gold, Silver, Platinum Forecasts

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    Gold

    Gold made an attempt to settle below the support at $2870 – $2880 but lost momentum and climbed back above the $2900 level.

    Silver

    Silver rallied above the $32.00 level as gold/silver ratio pulled back below the psychologically important 90 level.

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    Platinum is trying to settle above the resistance at $1025 – $1030 as demand for precious metals stays strong.

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    Superman silver Coins are available with subscription

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    The subscription option for ordering the first numismatic product in the U.S. Mint’s Comic Art Coin and Medal Program is open.

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    Robert Kiyosaki takes to X again

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    Taking to his official X account, Kiyosaki called silver “the biggest investment bargain today.”

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    “The good news is silver is the biggest investment bargain today.” He added, “Gold has already hit all-time highs. I have plenty of Bitcoin. And silver is still 50% below its all-time high… today about $35.”

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    Kentucky vetos House Bill 2

    ByVictoria
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    In a landmark victory for coin dealers, collectors, and investors, the Kentucky General Assembly has overridden Governor Andy Beshear’s veto of House Bill 2, officially enacting a sales-tax exemption for currency, bullion, and coins.

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    Weak dollar, gold up nearly 1%

    ByVictoria
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    US Treasury Secretary Scott Bessent offered support for Jerome Powell amid regular attacks from President Donald Trump, saying he sees no reason for the Federal Reserve chair to step down. Trump has maintained his criticism of the Fed chief and stressed his belief that the central bank’s benchmark rate should be 3 percentage points lower.  

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    Spot gold was up nearly 1% to $3,430.05 an ounce at 2:16 p.m. in New York. The Bloomberg Dollar Spot Index fell 0.4%. Silver and palladium advanced while platinum slipped.

    Source – Bloomberg