|

Gold prices and gold futures drop

Spot gold, which dipped 0.5% to $2,904.51 an ounce as of 1211 GMT, has gained over 10% year-to-date. It hit a record high of $2,956.15 on February 24.

U.S. gold futures also dropped 0.5% to $2,912.10.

“Gold seems to be experiencing profit-taking as investors closely watch tariff developments with prices trading toward $2,900 ahead of the non-farm payrolls report,” Lukman Otunuga, senior research analyst at FXTM, said.

Platinum prices were flat at $964.68 per ounce.

Spot silver dipped 0.7% to $32.39 an ounce and palladium shed 0.5% to $937.74.

Source – Reuters

Similar Posts

  • /

    Central banks are stocking up

    They bought over 1,000 tonnes of the precious metal last year, double the average amount purchased in the previous decade, according to a European Central Bank report published on Wednesday.

    The authors wrote that global holdings of gold by reserve banks increased to 36,000 metric tons in 2024, close to the record of 38,000 metric tons reached around 60 years ago.

    Now, central bank reserves are composed of, on average, the dollar, at 46%, gold, at 20%, other currencies at 18%, and the euro at 16%.

    Source – Business Insider

  • /

    Cochilco expects to hold copper price till 2026

    “These projections are supported by a rise in copper demand from the energy transition, electricity grids and a limited supply,” Claudia Rodriguez, Cochilco’s interim VP, said in a statement, adding that geopolitical tensions also played a role.

    “Uncertainty about China’s economic recovery, tariffs implemented by the United States and the hardening of monetary policy could limit the demand for copper, affecting its price,” Rodriguez said.

    It also expects Chile’s copper production to rise by 4.6% this year to 5.76 million tons and grow another 3.6% to 5.97 million tons in 2026.

    Source – Mining.com

  • / /

    Florida gold and silver tender

    Update to Gold and Silver Specie as Legal Tender

    Source – www.flsenate.gov

    Effective day : 7/1/2025

    Is this going to happen? Is this bill passed and will be in affect July? If anyone know please comment as I cannot find much info on this except that this was posted 4 days ago. -V.

  • /

    Mining firm Freeport-McMoRan jumps 4%

    “American industries depend on copper, and it should be made in America, no exemptions, no exceptions,” Commerce Secretary Howard Lutnick said. “It’s time for copper to come home.”

    But while the tariffs could be positive for the domestic metals sector, implemented copper tariffs could amplify costs across several segments of the economy. Copper has a broad range of uses, and its cost is an input in the price of everything from electronics to construction materials.

    Trump’s tariff probe sparked a surge in copper futures, which rose 1.76% Wednesday morning.

    Source – Markets Insider

  • /

    Tariff threat opens up transatlantic rift in copper pricing

    U.S. President Donald Trump hasn’t yet imposed import tariffs on copper but the market is already pricing in the likelihood that the red metal will be next on the list after aluminium and steel.

    The arbitrage between the CME and the London Metal Exchange (LME) contracts has blown wider in recent days, with the CME premium exceeding $1,000 per metric ton earlier this week.

    Source – Reuters / Written by Andy Home / Opinion