|

Gold trades high, spot gold gains

ByVictoria

Spot gold gained 0.5% to $2,946.68 an ounce, as of 1131 GMT

“Gold continues to be supported by the prospect of a tariff-driven economic slowdown, potentially bringing forward U.S. Fed rate cut expectations,” Ole Hansen, head of commodity strategy at Saxo Bank, said.

“I maintain my bullish stance on gold, expecting an economic slowdown or even stagflation to drive demand and price of gold higher.”

Spot silver was flat at $33.21 an ounce, platinum lost about 1% to $974.45, while palladium dropped 0.2% to $947.17.

Source – Reuters

Similar Posts

  • / /

    States Battle to Restore Gold and Silver

    ByVictoria
    0 Comments

    In a powerful and timely interview, Francis Hunt of The Market Sniper sat down with Jp Cortez, Executive Director of the Sound Money Defense League, to discuss the accelerating legislative efforts to restore gold and silver as constitutional money across the United States.

    Source – Money Metals – Video Interview

  • / /

    Utah bill to allow vendors to be paid in gold and silver

    ByVictoria
    0 Comments

    Bill HB306, now awaiting signature from Governor Spencer Cox, authorizes the state treasurer to issue a competitive procurement for a precious metals-backed electronic payment platform. This will allow state vendors to opt for payment in physical gold and silver.

    Rep. Kenneth Ivory sponsored Bill HB306, and Sen. Keith Grover pushed the legislation through the Senate. The state politicians noted that the legislation is the latest evolution in Utah’s stance in favor of sound money.

    “In uncertain economic times, Utah is providing vendors and service providers with the option to receive payment in gold and silver,” Rep. Ivory said. “This law gives Utahns an alternative to choose how they preserve the purchasing power of their earnings and savings.”

    Source – KITCO News

  • /

    Gold edges lower, the dollar strengthens

    ByVictoria
    0 Comments

    Gold prices eased on Monday on a firmer dollar, in thin, holiday-season trade and as investors sought further clues on the U.S. Federal Reserve’s monetary policy for next year after its latest meeting signaled easing would be gradual.

    “Presently, we are in a lull for Christmas week with the gold price trending sideways. Federal Reserve policy is clear with expectations of rising interest rates in the second half of the year,” said Michael Langford, chief investment officer at Scorpion Minerals.

    Source – Reuters / written by Anushree Mukherjee

  • /

    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