Gold prices made steady progress last year and have continued that with a very strong start to this year, said George Milling-Stanley, chief gold strategist at State Street Global Advisors. That has led to April gold’s settlement at $3,001.10 an ounce on Comex Friday, the highest most-active contract finish on record.
Source – Market Watch
During the trading on Friday, we saw the silver market initially dip, only to turn around and show signs of strength yet again. Because of this, I think the market is likely to continue to be bullish.
In general, this is a market that’s been in an uptrend for quite some time and if we are in fact going to continue to see inflationary issues, things like silver, commodities and stuff could get a little bit of a bid. We’ll just have to wait and see.
Source – FXEMPIRE / Written by Christopher Lewis
Gold eased on Wednesday as the dollar ticked up, while investors awaited U.S. inflation data to gauge the Federal Reserve’s rate cut path amid trade tensions and economic slowdown fears and market focussed on news of a potential Ukraine-Russia ceasefire.
Spot gold fell 0.2% to $2,908.93 an ounce as of 0720 GMT, while U.S. gold futures lost 0.2% to $2,908.93.
“Gold is operating in ‘consolidation mode’ ahead of the next batch of U.S. inflation data,” KCM Trade chief market analyst Tim Waterer said.
“I expect gold to remain a favoured asset whilst investors are concerned about tariff wars and growth slowdowns. So, the bias for gold remains to the upside due to ongoing tariff dramas,” Waterer said.
Spot silver shed 0.7% to $32.70 an ounce, platinum rose 0.7% to $981.29 and palladium slipped 0.8% to $938.00.
Source – Reuters
Gold touched an all-time high on Monday, breaching the $3,100 level, as investors turned to the safe-haven asset amid concerns that U.S. President Donald Trump’s tariff plans would stoke a global trade war and economic fallout.
Spot gold was up 0.6% to $3,103.63 an ounce, as of 0255 GMT, after hitting a record high of $3,107.26 earlier. Bullion is up over 8% in March.
“Markets anxiety levels have been ramping up ahead of the reciprocal U.S. tariff announcements, which is keeping gold in high demand as a defensive play,” KCM Trade chief market analyst, Tim Waterer said.
“If the tariff announcements this week are not as severe as feared, then the gold price could start to backtrack as profit-taking from the highs may be triggered.”
Spot silver rose 0.4% to $34.23 an ounce, platinum was steady at $983.51 and palladium gained 0.4% to $975.70.
Source – Reuters
Freeport’s last export permit expired at the end of 2024, but the company has requested it can continue selling copper concentrate abroad because its local copper smelter was in repair after a fire in October last year.
“The trade ministry supports a plan to relax the export policy after weighing the cost and benefit analysis … while also observing the sustainability of the government’s natural resource downstreaming policy,” deputy minister Dyah Roro Esti said in a statement.
Freeport Indonesia said that it’s currently negotiating with the government over the export permit and believed the government “would accommodate” it.
Source – Mining.com
Gold of 99.5 per cent purity increased Rs 50 to reclaim its all-time high level of Rs 96,000 per 10 grams against the previous close of Rs 95,950 per 10 grams.
Silver prices climbed by Rs 2,500 to Rs 97,500 per kg on the back of fresh industrial demand.
“Gold prices remain steady near all-time highs, buoyed by a weakening dollar and persistent uncertainty surrounding US trade policy,” Chintan Mehta, Chief Executive Officer at Abans Financial Services, said.
Spot silver in the Asian market hours fell marginally at USD 32.32 per ounce
Source – Press Trust of India
Spot gold added 0.4% to $2,755.2 per ounce as of 02:29 p.m. ET (1629 GMT). Prices were at their highest since Oct. 31 when they hit their all-time high of $2,790.15.
“There are uncertainties with proposed tariffs and other things, and gold typically does well when there’s a large or even a moderate amount of uncertainty in the market, it’s a natural place where people gravitate to,” said Ryan McIntyre, senior portfolio manager at Sprott Asset Management
“(Trump) has been perhaps just a shade less hawkish on tariffs as feared, which helps — less/lower tariffs is taken to indicate lower inflation hence potential for more rate cuts,” said Tai Wong, an independent metals trader.
Source – Reuters
