|

Gold prices fall, trade deal soon

ByVictoria

Gold prices fell on Thursday, reversing earlier gains, as U.S. President Donald Trump hinted at a potential trade deal with Britain, easing trade tensions and reducing the precious metal’s appeal as a safe-haven investment.

Spot gold was down 0.7% to $3,342.22 an ounce, as of 1157 GMT. U.S. gold futures slipped 1.3% to $3,347.90.

“As it becomes confirmed that there is some sort of trade deal in the wings that could help to firm up the dollar a bit and take some of the steam off of gold,” said Nitesh Shah, commodities strategist at WisdomTree.

Spot silver eased 0.2% to $32.40 an ounce, platinum gained 0.6% to $979.91 and palladium fell 0.2% to $970.91.

Source – Reuters

Similar Posts

  • /

    Gold futures up

    ByVictoria
    0 Comments

    Gold futures tick higher on tariff uncertainty and short-term monetary policy outlook. Futures are up 0.2% at $3,233.60 a troy ounce, near Friday’s record high of $3,263/oz.

    The uncertainty both boosted gold’s safe-haven demand and weakened the U.S. dollar as an alternative safe asset, further enhancing gold’s appeal, Commerzbank says.

    Source – Wall Street Journal

  • /

    Gold price predictions

    ByVictoria
    0 Comments

    Gold prices are expected to continue being volatile in the near future on the back of uncertainties regarding US President Donald Trump’s tariff policies, the approaching July 9 deadline, possible trade deals, and the fresh threat of additional 10% tariffs on BRICS countries that align with ‘anti-American policies’.

    Source – The Times of India

  • / / /

    Gold, Silver, Platinum Forecasts

    ByVictoria
    0 Comments

    Gold

    Gold tests resistance at $2930 – $2940 as traders bet that demand from central banks will stay strong in the upcoming months.

    Silver

    Silver gains ground as traders react to the strong performance of gold markets. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.

    Platinum

    Platinum is stuck near the $1000 level as traders wait for additional catalysts.

    Source – FXEMPIRE

  • /

    Tariff threat opens up transatlantic rift in copper pricing

    ByVictoria
    0 Comments

    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

  • / /

    Florida Senator Proposes Bill To Recognize Gold, Silver, And Digital Currency As Legal Tender

    ByVictoria
    0 Comments

    Follow up to Gold and Silver may be adopted as legal tender in Florida

    Sponsored by Senator Rodriguez, Senate Bill 132 aims to redefine financial transactions, taxation, and payment of debts using these alternative forms of currency.

    The legislation would also exempt transactions involving gold, silver, and related currencies from taxation. The move reflects a growing interest in alternative monetary systems as a hedge against economic uncertainties.

    The proposed bill includes several significant measures:

    ・Definition of Legal Tender:

    ・Tax Exemptions:

    ・Government Acceptance:

    ・Prohibition on Compulsion:

    ・Regulatory Framework:

    If passed, SB 132 would make Florida one of the few states to officially recognize gold, silver, and digital currencies as legal tender.

    Source – Tampa Free Press