|

Gold steady, tariff announcement

ByVictoria

Spot gold was at $3,026.85 an ounce at 1131 GMT. U.S. gold futures edged 0.4% higher to $3,032.40.

“A modestly weaker dollar is probably giving gold a little bit of a tailwind at present,” said Ross Norman, an independent analyst.

“A worse-than-feared tariff announcement on April 2 could give bullion bulls a shot in the arm towards striving for the $3,100 mark,” said Han Tan, Exinity Group’s chief market analyst.

“Should risk-on sentiment make a comeback, assuming the U.S. tariff threats prove to be more bark than bite, that could see fleeting forays below $3,000,”

Spot silver firmed 0.4% to $33.16 an ounce, platinum steadied at $975.55, and palladium was flat at $957.95

Source – Reuters

Similar Posts

  • /

    Gold prices all – time high, $2,800 mark

    ByVictoria
    0 Comments

    Spot gold steadied at $2,795.52 per ounce by 11:18 GMT, after hitting a record peak of $2,800.99 earlier in the session. Prices rose more than 6% for the month and 1% for the week.

    “The rally could hold for as long as there is uncertainty in the market. A lot of today’s uncertainty stems from not knowing whether and how tariffs will be applied,” said WisdomTree commodities strategist Nitesh Shah.

    “We see central bank buying as the strongest structural force in the gold market, underpinning our long-term constructive view,” said Carsten Menke, analyst at Julius Baer.

    Source – Reuters

  • ‘No evidence’ man knew gold was stolen, jury told

    ByVictoria
    0 Comments

    Follow up on Stolen Gold Toilet from art exhibit at Blenheim Palace, in Oxfordshire

    There is no evidence a man on trial in connection with the theft of a £4.8m golden toilet knew the gold he was dealing with was stolen, a jury has been told.

    The prosecution said the 41-year-old’s decision not to give evidence meant he failed to answer a number of questions, including what the gold looked like when it was delivered to his jewellers in Hatton Garden.

    “What clear evidence is there that Mr Guccuk did anything wrong or criminal?”

    Source – BBC

  • /

    Gold futures rising

    ByVictoria
    0 Comments

    Gold price have risen from Wednesday’s record close, propelled by fears that Trump’s tariffs will continue to hammer stocks and expectations that central banks will continue to hoard the precious metal. Gold futures for April delivery settled Wednesday at $3,139.90 a troy ounce, the latest notch in their 19% climb this year.

    Source – The Wall Street Journal

  • /

    Investment banks raise gold forecasts

    ByVictoria
    0 Comments

    UBS and Commerzbank raised their gold price forecasts on Friday, joining other investment banks as investors drive the safe-haven metal to record highs amid the economic uncertainty sparked by U.S. President Donald Trump’s trade policies.

    Trump’s tariffs have roiled financial markets, stoking fears of inflation and a global recession. While he has paused most duties, he has hiked those on China to 145%, prompting Beijing to lift its tariffs on U.S. goods to 125%.

    “We expect gold’s rally to extend into next year and for prices to stabilise at higher levels further out,” UBS analysts said in a note

    Source – Reuters

  • /

    Weaker dollar helping gold today

    ByVictoria
    0 Comments

    Gold price rose more than 1% on Thursday, moving away from the one-month low it touched in the previous session, as a pullback in the dollar and fresh U.S. tariff announcements lifted demand for the safe-haven asset.

    Spot gold was up 0.9% at $3,305.15 per ounce, as of 1140 GMT. The bullion had hit its lowest level since June 30 at $3,267.79 on Wednesday

    “We had some large downward moves yesterday in gold around the FOMC statement release and the tariff announcement. So a moderately weaker U.S. dollar is helping gold today,” said UBS commodity analyst Giovanni Staunovo.

    Spot silver was down 1.6% at $36.53 per ounce, platinum fell 0.6% to $1,318.20 and palladium gained 0.9% to $1,215.94.

    Source – Reuters

  • /

    Tariff threat opens up transatlantic rift in copper pricing

    ByVictoria
    0 Comments

    U.S. President Donald Trump hasn’t yet imposed import tariffs on copper but the market is already pricing in the likelihood that the red metal will be next on the list after aluminium and steel.

    The arbitrage between the CME and the London Metal Exchange (LME) contracts has blown wider in recent days, with the CME premium exceeding $1,000 per metric ton earlier this week.

    Source – Reuters / Written by Andy Home / Opinion