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Gold up 5% this week, Silver gained

ByVictoria

Spot gold jumped over 1% to $3,214.92 an ounce, as of 0801 GMT, after hitting a record high of $3,219.84 earlier in the session. Bullion is up over 5% so far this week.

“Recession risks are mounting, bond yields are soaring, and the U.S. dollar continues to weaken – all factors reinforcing gold’s role as a crisis hedge and inflation shield,” said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany.

“We believe gold has further to run—in the upside case, we target USD 3,400-3,500/oz over the months ahead,” said UBS analyst Giovanni Staunovo.

Spot silver gained 0.4% to $31.31 an ounce, while platinum added 0.7% to $944.35. Palladium gained 1.9% to $925.43.

Source – Reuters

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    Central banks are expected to help keep gold’s stunning rally going this year with buying aimed at further diversifying reserves away from the dollar due to risks stemming from U.S. President Donald Trump’s policies.

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    Robert Kiyosaki urges investors to ditch “fake money” and start saving silver, gold, and Bitcoin — calling silver the top asset for the next two months and predicting it could hit $200.

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    Source – The Street

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    Gold prices and gold futures drop

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    Spot gold, which dipped 0.5% to $2,904.51 an ounce as of 1211 GMT, has gained over 10% year-to-date. It hit a record high of $2,956.15 on February 24.

    U.S. gold futures also dropped 0.5% to $2,912.10.

    “Gold seems to be experiencing profit-taking as investors closely watch tariff developments with prices trading toward $2,900 ahead of the non-farm payrolls report,” Lukman Otunuga, senior research analyst at FXTM, said.

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    Gold continues to climb, tariffs increase demand

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    Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.

    Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).

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    Codelco boots copper 2024 but strains workers, delays maintenance

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    An internal document seen by Reuters showed Codelco’s production reached 1.328 million tons in 2024, at the low end of its target range and just about 3,500 tons higher than the quarter-century low in 2023.

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    Source – Reuters

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