| |

Gold on week high, Silver up 1%

ByVictoria

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

Similar Posts

  • /

    Gold futures hold record high

    ByVictoria
    0 Comments

    Investors are increasingly seeking safe-haven in hard assets like gold, silver, copper and platinum, historically viewed as stores of value in times of financial uncertainty, Saxo Bank’s Ole Hansen says in a note.

    Source – Wall Street Journal

    More Info!

    Futures (in finance) – Are contracts to buy or sell a specific underlying asset at a future date.

  • /

    Poland copper mining tax to end in 2026

    ByVictoria
    0 Comments

    Poland’s copper mining tax will fall from next year under a new system that will provide deductions related to investment spending, Polish finance minister Andrzej Domanski said on Friday.

    The tax on mineral extraction, including copper, was introduced in 2012. Poland’s biggest copper miner KGHM paid 3.87 billion zlotys in tax in 2024, according to its annual report.

    “By taking care of investments in Poland, by taking care of the development of KGHM, we also take care of the collective security of the West and the European Union.”

    Source – Reuters

  • /

    Gold still looks good, dollar dropped

    ByVictoria
    0 Comments

    “The de-escalation of tensions in the Middle East is the primary factor that’s weighing on gold. The safe-haven bid has diminished and the market is in more of a risk-on mode,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    “We’ve got pretty good support around $3,300 and then even better support probably at $3,250.”

    Global shares surged and the dollar dropped on Tuesday after news of the ceasefire between Israel and Iran, while markets shrugged off what U.S. President Donald Trump called violations by both sides.

    Source – Reuters

  • Over the Weekend!

    ByVictoria
    0 Comments

    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!

  • /

    UBS raised gold target to $3200

    ByVictoria
    0 Comments

    “With the price now reaching our long-held target of $3,000/oz, the main question is whether the rally will continue. We think so, as long as policy risks and an intensifying trade conflict continue to spur safe-haven demand,” UBS said.

    Source – Seeking Alpha

    UBS Group AG – formerly Union Bank of Switzerland, is a multinational investment bank and financial services company based in Switzerland.