Gold
Gold made an attempt to settle below the support at $2870 – $2880 but lost momentum and climbed back above the $2900 level.
Silver
Silver rallied above the $32.00 level as gold/silver ratio pulled back below the psychologically important 90 level.
Platinum
Platinum is trying to settle above the resistance at $1025 – $1030 as demand for precious metals stays strong.
Source – FXEMPIRE
Prices of platinum, a white precious metal, have rallied over 30% this year to date, with spot prices currently around $1,200 per ounce. Spot gold prices are around 27% higher over the same period.
“Rising gold prices are incentivising jewellers to diversify, in what represents a change to historical patterns.”
The BofA analysts wrote that even a 1% switch in gold to platinum jewelry could help double the white metal’s supply deficit to 1.6 million ounces.
Source – Markets Insider
Investors are increasingly seeking safe-haven in hard assets like gold, silver, copper and platinum, historically viewed as stores of value in times of financial uncertainty, Saxo Bank’s Ole Hansen says in a note.
Source – Wall Street Journal
Futures (in finance) – Are contracts to buy or sell a specific underlying asset at a future date.
This figure significantly exceeded consensus forecasts, as economists had anticipated job gains of around 164,000.
Adam Button, a market analyst, pointed out that the unexpectedly strong employment report is driving the U.S. dollar higher, which is consequently weighing on gold prices.
Source – KITCO NEWS
At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741
The US Dollar Index (DXY), which measures the performance of the Greenback against a basket of six peers and usually correlates inversely to Gold, rises 0.08%, up at 108.16.
Gold prices are set to challenge record high of $2,790 amid ongoing US trade policies uncertainty.
Source – FXSTREET
Source – APMEX
Taking to his official X account, Kiyosaki called silver “the biggest investment bargain today.”
Kiyosaki wrote, “GOOD NEWS for people with not much money. I am buying more silver eagles today.”
“The good news is silver is the biggest investment bargain today.” He added, “Gold has already hit all-time highs. I have plenty of Bitcoin. And silver is still 50% below its all-time high… today about $35.”
“If a poor person bought a few ounces of gold or silver, or 1/2 of a Bitcoin…. I predict they may become the new rich….once this Depression is over.”
Source – ET Now