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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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    Freeport-McMoRan hopes copper will be declared “critical mineral”

    ByVictoria
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    Freeport-McMoRan (FCX.N), opens new tab hopes U.S. President Donald Trump declares copper a critical mineral, a move that would unlock tax credits needed to boost American production of the red metal and offset global rivals, CEO Kathleen Quirk said on Monday.

    “Having the incentives and clarity around those would be a big plus for the domestic copper industry,” said Quirk, who became CEO of Phoenix-based Freeport last year.

    “People are understanding more what copper is used for and its importance in our economy. It’s just a matter of time before it’s classified as a critical mineral.”

    “We’re not looking for handouts, but if the government is trying to incentivize domestic production, it’s important to recognize that the U.S. doesn’t have the same grades that we have internationally,” said Quirk.

    Source – Reuters

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    Gold – Silver ratio 2025

    ByVictoria
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    The gold-silver ratio was just over 103:1. That means it takes about 103 ounces of silver to buy an ounce of gold.

    This is slightly above the 1991 peak and not too far below the all-time high of 123:1 during the pandemic chaos in 2020.

    Source – Money Metals

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    Goldman Sachs raises gold forecast

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    Goldman Sachs raised its end-2025 gold price forecast to $3,700 per ounce from $3,300, with a projected range of $3,650-$3,950, citing stronger-than-expected demand from central banks and higher exchange-traded fund inflows due to recession risks.

    “If a recession occurs, ETF inflows could accelerate further and lift gold prices to $3,880 per troy ounce (toz) by year-end,” the bank said

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    Barrick Gold Corp. stock rises

    ByVictoria
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    Shares of Barrick Gold Corp. 

    ABX-3.10% rose 2.32% to C$26.47 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index 

    GSPTSE-0.78% rising 0.49% to 25,328.36.

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    “Incredible demand for physical gold” in New York Markets

    ByVictoria
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    “There is incredible demand for physical gold in New York markets,” said Peter Spina, president and founder of gold news and information provider GoldSeek.com., referring to it as a “physical gold rush.”

    “Those who are caught short physical metal are looking around and seeing a window closing here,” he said. They’re “desperately seeking physical metal before the price could jump overnight.”

    “Meeting a surge in demand will always stretch capacity, but London vaults have been working overtime to service this London-New York flow,”

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  • Victoria’sCoin Joins the Money Metals Exchange Affiliate Program

    ByVictoria
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    I am very proud to announce that Victoria’sCoin – National Gold & Silver Dealer Directory is now an approved affiliate of Money Metals Exchange. This is a momentous milestone for me personally, as I have been working hard to secure trusted affiliates that align with the mission of this directory.

    Whenever you see me promote Money Metals Exchange, please know that I may receive a small commission. That support helps me continue building this directory, improving imperfections, expanding state pages, and creating more resources for collectors, investors, and precious‑metals buyers across the United States.

    Thank you for being part of this update, and don’t forget to support your local gold and silver dealers. For those who live too far from a shop, investing online is a helpful option and I’m proud to recommend Money Metals Exchange as a trusted resource.

    I look forward to partnering with more reputable affiliates in the near future.

    Happy Investing!

    –V.