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Gold prices above $3000 for the second time

ByVictoria

Gold prices scaled a record peak above the crucial $3,000-mark on Tuesday for the second time in a week, as investors sought cover from economic concerns fuelled by U.S. President Donald Trump’s tariff policies.

Spot gold rose 0.2% to $3,006.88 an ounce as of 0525 GMT after hitting a record high of $3,016.92 per ounce earlier in the session.

“Gold is moving higher on account of a weaker dollar and continued tariff uncertainties… With Gold at record highs there is a lot of technical and chart based buying that kicks in since there is no resistance apparent on the charts,” said Marex analyst Edward Meir.

Spot silver firmed 0.1% to $33.85 an ounce, platinum added 0.2% to $1,002.50 and palladium rose 0.4% to $968.96.

Source – Reuters

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    Goldman Sachs raised its end-2025 gold price forecast to $3,700 per ounce from $3,300, with a projected range of $3,650-$3,950, citing stronger-than-expected demand from central banks and higher exchange-traded fund inflows due to recession risks.

    “If a recession occurs, ETF inflows could accelerate further and lift gold prices to $3,880 per troy ounce (toz) by year-end,” the bank said

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    “In our bull case, we see gold prices reaching $3,500 per ounce by year-end, underpinned by much higher hedging/investment demand on fears of US hard landing/stagflation,” analysts at Citi said in a note.

    Source – Reuters

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    Silver futures high 6/5/2025

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    Silver futures rose as high as $36.27 per troy ounce on Thursday, notching the highest price for the metal since early 2012. Silver futures were last up more than 3% on the day $35.82 per troy ounce.

    Silver has been a high performing asset in 2025 and is now up more than 20% year to date. That is still lagging the move in gold, however, which has jumped about 28%.

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    Kentucky vetos House Bill 2

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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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    Gold fell, Silver up, Platinum up 1.7%

    ByVictoria
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    Gold prices edged lower on Thursday, weighed down by easing geopolitical tensions in the Middle East and continued uncertainty over the Federal Reserve’s interest rate trajectory.

    Spot gold fell 0.5% to $3,316.47 per ounce, as of 0933 a.m. EDT (1333 GMT). U.S. gold futures slipped 0.4% to $3,329.20. 

    Palladium lost 2.5% to $1,084.41. Platinum climbed to its highest level since September 2014, adding 1.7% to $1,377.62.

    Spot silver was up 0.2% to $36.39.

    Source – Reuters

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    Robert Kiyosaki says silver will reach $70

    ByVictoria
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    Robert Kiyosaki urges investors to ditch “fake money” and start saving silver, gold, and Bitcoin — calling silver the top asset for the next two months and predicting it could hit $200.

    “Silver for the next two months is the best of the three, gold, silver, and Bitcoin,” he said. “Today silver is about $35 an ounce. I believe silver may soon be $70 an ounce this year and $200 in a year or two.”

    “The best news is, almost everyone in the world can afford at least 1 silver coin today….but not tomorrow,”

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    Robert Kiyosaki – is an American Businessman and author most notably for his “Rich Dad Poor Dad” series of personal finance books.