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Gold prices hold steady as investors await US Fed policy cues

ByVictoria

Spot gold eased 0.2% to $2,758.49 per ounce by 09:55 a.m. ET (1455 GMT), while U.S. gold futures rose 0.3% to $2,775.60, widening the premium over spot gold rates.

“However, the Fed’s commentary in regards to the potential for an interest rate cut in the March meeting is going to be in focus,” said David Meger, director of metals trading at High Ridge Futures.

Elsewhere, spot silver gained 1.7% to $30.92 per ounce, platinum also added 0.5% to $946.45. Palladium was up 0.8% to $962.50.

Source – Reuters

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    President Trump will add copper to trade protection

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    U.S. Commerce Secretary Howard Lutnick said nothing would stop President Donald Trump’s expanded 25% tariffs on steel and aluminum until U.S. domestic production is strengthened, and that Trump will add copper to his trade protections.

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    Citi predicts 25% copper-specific tariff

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    Citi anticipates an eventual implementation of a 25% copper-specific tariff by the fourth quarter of 2025, following U.S. President Donald Trump’s executive order initiating an investigation into U.S. copper imports, the bank said in a note on Wednesday.

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    Trump to make sure Fort Knox gold is there

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    “We’re going to go into Fort Knox to make sure the gold is there… do you know about that?” Trump said to a reporter aboard Air Force One, according to a video posted to X by Musk.

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    Sterling Metals Maiden Exploration Program Delivers Multiple New Drill-Ready Copper Targets Following Successful 3D IP Survey at Copper Road

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    This survey covered an expansive 5km by 3km area in the center of the Project, successfully pinpointing multiple high-priority, drill-ready targets. These findings are significant, highlighting both the potential of the near surface target zones as well as the Project’s capacity to host a large-scale copper porphyry mineral system at depth

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    Gold Hits Record in Volatile Session

    ByVictoria
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    “Until we see clarity on the US policies, both trade-related and economic, it will create an environment for increased levels of gold volatility,” said Joseph Cavatoni, senior market strategist for North America at industry lobby the World Gold Council. “So, while we might see a $3,000 gold price, we expect there could be ongoing movements that bring us back below.”

    Spot gold was down 0.1% at $2,905.73 an ounce at 10:28 a.m. in London, after rising to as high as $2,942.68. Silver, platinum and palladium were all lower. The Bloomberg Dollar Spot Index was steady after climbing on Monday. 

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