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Gold, Silver, and Platinum down

ByVictoria

Gold prices eased on Thursday, pressured by a firmer U.S. dollar, as investor worries eased temporarily after President Donald Trump said he did not plan to oust Federal Reserve Chair Jerome Powell.

Spot gold was down 0.6% at $3,335.77 per ounce, as of 0958 GMT. U.S. gold futures fell 0.8% to $3,331.30.

“Yesterday, gold prices rose on the back of these rumours, which were unfounded. Since the rumours were quelled, prices have been falling,” said Nitesh Shah, commodities strategist at WisdomTree.

“I think if we come out of (the tariff deadline of) August 1 with much better trade deals, then that could be gold price-negative,” Shah said.

Spot silver fell 0.4% to $37.77 per ounce. Platinum lost 0.3% to $1,412.78 and palladium eased 0.6% to $1,223.03.

Source – Reuters

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    Co-owner of JEHM Wealth and Retirement Eric Lahaie told 7NEWS the value of gold has increased by more than 30 percent in the last six months. He emphasized that it is largely because of panic buying.

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    Gold up, Silver steady

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    Spot gold was up 0.3% at $3,336.33 an ounce, as of 1224 GMT, after falling to a low of $3,301.54 earlier in the session. U.S. gold futures were up 0.1% at $3,357.20.

    “Gold found some floor amid dip-buying, though the uptick lacked bullish conviction. Fiscal concerns and Fed rate cut bets are the catalyst for a recovery in the prices,” said Jigar Trivedi, senior commodity analyst at Reliance Securities.

    Spot silver was steady at $36.72 per ounce, hovering near a more than 13-year high. Platinum eased 0.1% to $1,218.85, after hitting its highest level since May 2021. Palladium lost 1.4% to $1,059.02.

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    Paul Williams, managing director of Solomon Global, said about the rise in gold prices that it was a “direct response to escalating trade tensions and the growing economic uncertainty that this brings.”

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    Futures – are contracts to buy or sell a specific underlying asset at a future date. In this case we are talking about gold.

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    Gold bullion edged 0.2% lower

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    Bullion edged 0.2% lower to around $2,750 an ounce, roughly just $40 short of its all-time high and still set for a fourth straight weekly gain.

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    Mako Mining Corp. Low cost, high margin gold producer

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    Mako Mining Corp. presents a compelling investment opportunity as a low-cost, high margin gold producer with strong operational momentum, optionality in exploration potential, management excellence and imminent catalysts supported by a clean balance sheet.

    With gold price hovering around $2,900/oz as of March 2025—more than double San Albino’s all-in sustaining cost (AISC) of $1,370/oz—Mako Mining is well positioned to generate sustainable cash flow which the management can put into work to grow the company’s production with a high ROIC or credible M&A (the company management showed their capital allocation excellence multiple times).

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