“I do think that we have really good chances now to progress that project. We have made a lot of progress,” Rio (RIO) CEO Jakob Stausholm told FT in an interview.
Source – Financial Times / Seeking Alpha
Spot gold prices surged as high as $3,500.05 per ounce on Tuesday, surpassing the $3,500/oz milestone for the first time.
“With all the geopolitical tensions, central banks do want to diversify away from the dollar and have something that won’t be sanctioned … gold is one of those asset classes that could fit the bill,” Marex analyst Edward Meir said.
Source – Reuters
Gold has outperformed the U.S. dollar and the S&P 500 by more than 6% across the 11 days when tariffs announcements dominated the news this year, according to J.P. Morgan.
Source – Seeking Alpha
Spot gold shed 0.4% to $2,927.95 an ounce by 1204 GMT. Bullion has gained around 1.6% this week after rising to a record $2,954.69 on Thursday.
“The non-stop rally since December remains unchallenged unless prices drop to around $2,850,” said Ole Hansen, head of commodity strategy at Saxo Bank.
“Gold has been displaying resilience with short-lived retracements, as lingering U.S. trade uncertainties reinforce its appeal as a hedge,” IG market strategist Yeap Jun Rong said.
Spot silver was flat at $32.92 an ounce, and palladium dipped 0.3% to $974.75. Both metals were headed for weekly gains.
Platinum shed 0.2% to $976.80 and eyed a weekly decline.
Source – Reuters
This figure significantly exceeded consensus forecasts, as economists had anticipated job gains of around 164,000.
Adam Button, a market analyst, pointed out that the unexpectedly strong employment report is driving the U.S. dollar higher, which is consequently weighing on gold prices.
Source – KITCO NEWS
Gold prices edged higher on Thursday, as markets closely tracked developments in U.S. President Donald Trump’s tariff plans, which could ignite a global trade war, while investors awaited crucial U.S. data due later in the day.
Spot gold was up 0.2% at $2,908.50 per ounce, as of 0240 GMT. Bullion hit a record peak of $2,942.70 on Tuesday. U.S. gold futures firmed 0.3% to $2,936.50.
“Gold continues to serve as a key diversifier amid trade uncertainties, as market participants seek to mitigate portfolio volatility,” IG market strategist Yeap Jun Rong said.
Spot silver rose 0.2% to $32.29 per ounce, platinum gained 0.2% to $994.75 and palladium firmed 0.5% to $978.46.
Source – Reuters
Gold prices ticked higher on Tuesday as focus turned to U.S. jobs and inflation data, that could influence the Federal Reserve’s policy decision in the face of rising economic growth concerns.
Spot gold (XAUUSD:CUR) +0.93% to $2,911.21 an ounce after hitting its lowest since March 3 in the previous session.
Meanwhile, worries over Trump’s tariff policies have also pushed safe-haven gold to a record high of $2,956.15 on February 24, as the metal is seen as a hedge against political risks and inflation.
Source – Seeking Alpha
