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SPDR Gold Shares was rallying a sharp 1.6%

ByVictoria

“Gold bars are bought as a hedge” against tariff-related downside risks to stocks as well as U.S. and global economic growth, commodity analysts at Citigroup said in a research note on Friday after the U.S. stock market’s close. “In precious metals, we see gold moving higher very near term” to $3,000 per ounce, they wrote.

“Gold has soared to another record high today amid a further ratcheting up in trade tensions,”  said Joe Maher, assistant economist at Capital Economics, in a note Monday. “Concerns that gold may get caught in the trade-war crossfire may also have led U.S. investors to buy up gold in order to get ahead of any future tariffs that might affect U.S. gold imports.”

Source – Market Watch

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    Israel’s 77th anniversary AI coins

    ByVictoria
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    In tribute to these technological advances and in recognition of Israel’s 77th anniversary, Israel Coins & Medals Corp. has commissioned the Holy Land Mint for special coins. These issues are recognized by the Bank of Israel as legal tender.

    Obverse features include the Israel State Emblem, “Israel” in English, Hebrew and Arabic, “Independence Day 2025” in English and Hebrew, face value and Mint mark. To the right, circular and linear shapes symbolize Artificial Intelligence.

    Three different denominations are being produced, each with the similar designs. The Prooflike 1-New-Israel-Shekel piece is 30 millimeters in diameter and composed of .925 fine silver, weighing 14.4 grams. Its  maximum issue size is 1,800 pieces.

    Source – Coin World

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    10lbs gold nugget up for auction

    ByVictoria
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    In 1979, a couple using a metal detector in the Kalgoorlie Goldfields of Western Australia located a massive gold nugget. Known today as the “Golden Beauty,” the nugget weighs in at nearly 10 pounds.

    It is currently on the auction block. According to Heritage Auctions, the opening bid was $400,000.

    At the current spot price, the gold is worth around $481,800.

    “Gold always has been enormously popular, in part because of its pure value and beauty, but also because it is exceedingly rare,” Heritage Auctions vice president of nature and science Craig Kissick said.

    Source – Money Metals

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    Trump Tariff Fears Spark Disconnect in Silver and Copper Markets

    ByVictoria
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    “Investors around the world have started the year looking for protection against sticky and potentially rising inflation, fiscal debt worries and the unpredictability of Trump,” said Ole Hansen, head of commodities strategy at Saxo Bank. 

    “The market is sleepwalking into a squeeze right now,” Daniel Ghali, senior commodity strategist at TD Securities, said in an interview. “People are completely disregarding this risk.”

    Source – Bloomberg / Yahoo Finance

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    Gold markets hit historic heights amid economic policy uncertainty

    ByVictoria
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    The most recent trading sessions have showcased gold’s resilience and volatility. Following a sharp decline of $45 per troy ounce in spot gold and a $63 drop in April futures on Friday, February 14, the market demonstrated strong recovery momentum. After the Presidents’ Day holiday closure, Tuesday’s trading saw spot gold gain $36.97, and the April futures contract gaining $60.70, nearly reaching the record levels established on February 12.

    Source – KITCO News / Opinion

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    Glencore’s Steelmaking Company production fell

    ByVictoria
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    Glencore’s steelmaking coal production in the first half soared following the integration of Elk Valley Resources, but copper and gold output fell.

    Elk’s contribution pushed first-half production expressed in copper equivalents up 5%. This is despite copper production falling 26% to 343,900 tons and gold output dropping 18% to 301,000 ounces.

    The FTSE 100-listed company said it was confident that it can deliver its full-year production guidance but tightened the ranges of some of its commodities to reflect its performance to date.

    Source – The Wall Street Journal

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    Gold in demand, up .1%

    ByVictoria
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    Gold prices touched a three-week high on Monday, supported by demand for safe-haven bullion after U.S. President Donald Trump threatened to impose a 30% tariff on imports from the European Union and Mexico.

    Spot gold was up 0.1% at $3,359.69 per ounce, as of 0637 GMT, after hitting its highest point since June 23 earlier in the session. U.S. gold futures rose 0.3% to $3,373.30.

    “We are seeing safe-haven demand coming back into the picture due to this uncertainty on the implementation of U.S. global trade tariffs policy,” OANDA senior market analyst Kelvin Wong said.

    “Near-term outlook looks positive for gold and if gold prices are able to have a daily close above $3,360, it could potentially advance higher towards the next resistance level at $3,435.”

    Spot silver gained 1.5% to $38.93 per ounce, platinum fell 1% to $1,384.81 and palladium fell 0.7% to $1,208.15.

    Source – Reuters