|

Gold prices up, jobs lower than expected

ByVictoria

Gold prices edged up on Friday, poised for a weekly gain on safe-haven inflows and a U.S. jobs report revealing lower than expected job growth in February, suggesting the Federal Reserve is on track to cut interest rates this year.

Spot gold added 0.3% to $2,918.11 an ounce as of 09:24 (1424 GMT). Bullion has gained over 2% so far this week, as U.S. President Donald Trump’s ever-shifting tariff policies fanned uncertainty.

“Weaker than expected number is giving gold a slight boost… also a weaker dollar for the week right now is helping,” said Bob Haberkorn, senior market strategist at RJO Futures.

Spot silver fell 1% to $32.28 an ounce and platinum shed 0.1% to $965.58, while palladium edged 0.5% up to $946.

Source – Reuters

Similar Posts

  • / /

    Texas allow gold and silver as legal tender

    ByVictoria
    0 Comments

    Texans are to be allowed to pay with with gold and silver for everyday transactions after Governor Greg Abbott signed House Bill 1056 into law. The law, which was championed by Republican state representative Mark Dorazio, designates the precious metals as legal tender in the state.

    Texans will be able to use their gold and silver holdings, stored in the state’s bullion depository, for payments through electronic systems such as mobile apps or debit cards.

    The provision comes after legislative debate, and takes effect on May 1, 2027, enabling transactions based on the state comptroller’s valuation of the metals at the time of sale.

    Source – Newsweek

    Legal Tender – officially recognized money

  • /

    Silver up 1.2%, dollar hits lowest in months

    ByVictoria
    0 Comments

    Silver gained as much as 1.2%, rising for a third day. A guage of the dollar hit the lowest in about three months, as the euro strengthened amid Germany’s plan to boost spending and loosen borrowing restrictions.

    The “tidal wave” of silver risks pushing freely available silver in the London spot market below a critical threshold needed for the market to function, Daniel Ghali, a senior commodity strategist at TD Securities, recently wrote in a note.

    Spot silver rose 0.9% to $32.262 an ounce as of 11:41 a.m. in London. The Bloomberg Dollar Spot Index fell 0.4%. Gold and palladium were little changed, while platinum advanced.

    Source – Mining.com

  • /

    Gold up 1.7%

    ByVictoria
    0 Comments

    Futures are up 1.7% at $3,350.60 a troy ounce and on track for weekly gains of nearly 4%.

    “Without a fundamental shift in U.S. fiscal policy, the implications of rising borrowing costs and widening fiscal deficits means the U.S. is on an unstable fiscal policy path, which could lead to heightened market volatility,” says Fawad Razaqzada, analyst at Forex.com.

    Source – The Washington Street Journal