Proposed designs for the obverses of the Proof 2027 and 2028 American Eagle platinum $100 coins — for the second and third years in the three-coin Charters of Freedom series — were recommended Feb. 18 by the Citizens Coinage Advisory Committee.
Source – Coin World
Spot gold was up 0.8% at $2,864 per ounce by 09:24 a.m. ET (1424 GMT), after hitting a record high of $2,877 earlier in the session.
“Gold continues to be largely influenced by trade uncertainties… the tariffs with China and the retaliation has the market on edge, so safe-haven flows remain the dominant factor,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Spot silver rose 0.4% to $32.23 per ounce, platinum gained 1.6% to $979.40 and palladium added 0.4% to $994.75.
Source – Reuters
“U.S. dollar and Treasury yields are lower, which is helping gold catch a bit of support… The overall uptrend remains intact and the path of least resistance favours the upside,” said Ilya Spivak, head of global macro at Tastylive.
“Prices have been stable in a range between about 2,830 and 2,960 for the past four weeks… We would need to see a convincing break above or below these boundaries to conclude that some sort of lasting directional move is resuming.”
Spot silver added 0.3% to $32.19 an ounce, platinum was steady at $957.89 and palladium lost 0.3% to $940.47.
Source – Reuters
U.S. President Donald Trump sprang a double surprise on the copper market when he announced import tariffs of 50% effective next month.
The August 1 start date signals the end of the race to ship physical metal to the United States to capture the tariff arbitrage.
A lucky few with cargoes already afloat may yet cross the finishing line in time, but the physical tariff trade is rapidly unwinding.
The LME benchmark spread is now in a comfortable contango of $66 per ton, compared with a backwardation of more than $300 per ton at the end of June.
Source – Reuters
In India, domestic prices hit an all-time high of 80,034 ($927.69) rupees per 10 grams on Friday, tracking the international spot gold prices and hovering near a record high of $2,790.15 hit on Oct. 31.
“Retail demand was negligible this week due to the price rise. Most jewellery stores were witnessing thin footfall,” a Chennai-based bullion dealer said.
Chinese gold prices are higher again and close to historical highs, which has sucked out demand but some people are still buying due to the holiday season starting next week, said a mainland China-based precious metal trader.
Source – Reuters
