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Gold spot fell and investors waiting for data on Friday

ByVictoria

Spot gold fell 0.7% to $2,894.55 an ounce as of 09:44 a.m. ET (1444 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns emerging from tariff threats.

“Bullish trend is still in place… We are not surprised by a period of consolidation ahead of some piece of important data,” said David Meger, director of metals trading at High Ridge Futures.

Spot silver was down 0.5% to $31.57, platinum eased 0.4% to $963 and palladium dropped 0.4% to $924.01.

Source – Reuters

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    Benchmark LME copper futures are more than 9% higher so far this year, and Comex copper is 16% higher YTD, with the Comex now trading at a 10%-12% premium over LME, and Morgan Stanley analysts see more room for growth.

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    Costco offers members an opportunity to purchase one-ounce gold bars in the store, online or via their app. The retailer offers gold bullion bars, 1-ounce bars and coins in different designs. As of February 2025, Costco offers the following gold products:

    • 1 oz. gold bar PAMP Suisse Lady Fortuna Veriscan
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    Gold prices have steadied after surging to a record high amid early signs of consolidation following the rally built on fears around U.S. President Donald Trump’s trade policies.

    The precious metal eased to close at $3,287.72 an ounce on Wednesday, down 6.1% from the all-time peak of $3,500.05 hit on April 22.

    Total gold investment flows sky-rocketed by 170% in the first quarter of 2025 from the same period a year earlier, reaching 552 metric tons, the highest since the first quarter in 2022, the WGC said in its report on Wednesday.

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    “Under the proposed law, the Texas Comptroller would issue gold and silver specie (coins) through the Texas Bullion Depository and also establish gold and silver transactional currency defined as ‘the representation of gold and silver specie and bullion held in the pooled depository account,’” wrote Mike Maharrey, Communications Director at the Tenth Amendment Center. “The Depository would be required to hold enough gold and silver to back 100 percent of the issued currency.”

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