| |

Gold steady, Platinum at its highest

ByVictoria

Gold prices were little changed on Wednesday as investors waited for the Federal Reserve’s policy decision and comments from Chair Jerome Powell, while platinum surged to a more than four-year peak.

Spot gold was steady at $3,387.89 an ounce by 1145 a.m. EDT (1545 GMT).

“The prevailing trend of seeking alternative stores of value beyond the U.S. dollar remains strong, driven by a growing desire for assets that are independent of external control,” said Ryan McIntyre, Managing Partner at Sprott Inc.

Spot silver fell 1% to $36.87 per ounce

Platinum added 3.5% to $1,306.68, highest since February 2021.

Source – Reuters

Similar Posts

  • / /

    Kentucky vetos House Bill 2

    ByVictoria
    0 Comments

    In a landmark victory for coin dealers, collectors, and investors, the Kentucky General Assembly has overridden Governor Andy Beshear’s veto of House Bill 2, officially enacting a sales-tax exemption for currency, bullion, and coins.

    Introduced Jan. 10, 2025, HB 2 passed the House with a 76–17 vote and the Senate with a 30–6 vote earlier this year. The veto override, finalized on March 27 with an 80-19 vote in the House and an 31-6 vote in the Senate, marks the successful conclusion of a year-long effort to protect Kentucky taxpayers.

    Source – Coin World

  • / /

    Gold and Silver : Experts predict 10% – 25% rally

    ByVictoria
    0 Comments

    “Given the current scenario, central banks are likely to continue diversifying their reserves with gold for financial and strategic reasons,” ICICI Securities stated in its report.

    Pankaj Pandey, Head of Research at ICICI Securities, noted, “We anticipate fresh investment demand for gold in 2025 as investors seek a store of value amidst trade war anxieties.”

    Silver is poised to outperform gold in 2025, supported by strong industrial demand from green energy applications, including photovoltaics and electric vehicle (EV) electrification, said ICICI.

    Source – Live Mint

  • /

    San Francisco Mint might close

    ByVictoria
    0 Comments

    President Trump and the Elon Musk-led Department of Government Efficiency (DOGE) have now targeted the San Francisco Mint for closure in a bid to sell the real estate on which the National Register of Historic Places structure stands, theoretically to reduce government expenses.

    Mint-wide, the bureau has already trimmed more than 100 full-time staffers, with an edict from DOGE to trim another 200, while the bureau wrestles with vacancies, some of which still need to be filled. Many of the positions trimmed were resolved through resignations and retirements.

    Closing the San Francisco Mint could affect the production of many numismatic products, such as Proof sets, silver Proof sets, Proof commemorative coins and Matte silver presidential medals.

    Source – Coin World

  • /

    Gold in demand, up .1%

    ByVictoria
    0 Comments

    Gold prices touched a three-week high on Monday, supported by demand for safe-haven bullion after U.S. President Donald Trump threatened to impose a 30% tariff on imports from the European Union and Mexico.

    Spot gold was up 0.1% at $3,359.69 per ounce, as of 0637 GMT, after hitting its highest point since June 23 earlier in the session. U.S. gold futures rose 0.3% to $3,373.30.

    “We are seeing safe-haven demand coming back into the picture due to this uncertainty on the implementation of U.S. global trade tariffs policy,” OANDA senior market analyst Kelvin Wong said.

    “Near-term outlook looks positive for gold and if gold prices are able to have a daily close above $3,360, it could potentially advance higher towards the next resistance level at $3,435.”

    Spot silver gained 1.5% to $38.93 per ounce, platinum fell 1% to $1,384.81 and palladium fell 0.7% to $1,208.15.

    Source – Reuters

  • /

    Central banks will keep gold shining

    ByVictoria
    0 Comments

    “While traditionally inflation and real yields have been the main drivers of gold prices, recently central bank buying has emerged as the primary catalyst behind the current gold price increase,” according to a recent research note by Bank of America’s Global Commodity Research’s Franciso Blanch and Irina Shaorshadze.

    George Milling-Stanley, chief gold strategist at State Street Global Advisors, also believes central-bank buying will keep gold humming this year, but he also sees two additional drivers. 

    Source – Fox Business