|

Spot gold down 1.3%

ByVictoria

Spot gold was 1.3% down at $2,840.25 an ounce by 10:42 a.m. ET (1542 GMT). Bullion has so far lost 3.2% for the week, its steepest weekly fall since November.

“I think the main element impacting the gold and silver markets is the profit-taking in week-long liquidation (and) the strong U.S. dollar index,” said Jim Wyckoff, a senior market analyst at Kitco Metals.

Spot silver fell 0.9% to $30.97, platinum lost 1.1% to $938.50 and palladium slipped 1.5% to $906. All three metals’ prices looked set for monthly declines.

Source – Reuters

Similar Posts

  • /

    Gold edges lower, the dollar strengthens

    ByVictoria
    0 Comments

    Gold prices eased on Monday on a firmer dollar, in thin, holiday-season trade and as investors sought further clues on the U.S. Federal Reserve’s monetary policy for next year after its latest meeting signaled easing would be gradual.

    “Presently, we are in a lull for Christmas week with the gold price trending sideways. Federal Reserve policy is clear with expectations of rising interest rates in the second half of the year,” said Michael Langford, chief investment officer at Scorpion Minerals.

    Source – Reuters / written by Anushree Mukherjee

  • /

    Everything about buying gold at Costco

    ByVictoria
    0 Comments

    Costco offers members an opportunity to purchase one-ounce gold bars in the store, online or via their app. The retailer offers gold bullion bars, 1-ounce bars and coins in different designs. As of February 2025, Costco offers the following gold products:

    • 1 oz. gold bar PAMP Suisse Lady Fortuna Veriscan
    • 1 oz. gold bar Rand Refinery (online only)
    • 2025 1 oz. American Buffalo gold coin
    • 1 oz. gold bar PAMP / Newmont Lady of Liberty (online only)
    • 100-gram gold bar Rand Refinery

    Costco’s selection comes from authorized dealers and reputable mints. However, as Costco members are accustomed to, offerings and availability may change.

    Costco marks up its cost for gold by roughly 2%. Markup is common practice among gold dealers and retailers, and 2% is on the low end of industry standards.

    Source – CBS News

  • /

    JP Morgan expects copper prices at $11,000 in 2026

    ByVictoria
    0 Comments

    JP Morgan expects the global deficit in refined copper to grow to 160,000 metric tons in 2026 and continues to forecast copper prices averaging around $11,000 per metric ton next year, the bank said in a note dated Friday.

    “Likely excess inventory builds in the U.S. in the coming months ahead of a tariff on copper sets up the potential to leave the rest of the world shorter of copper … setting the stage for our forecast bullish push higher over 2H25 towards $10,400/mt,” JP Morgan noted.

    Source – Reuters

  • / /

    Missouri passes bill on gold and silver

    ByVictoria
    0 Comments

    The Missouri legislature has passed a bill that would allow the state government to accept gold and silver as payment for taxes and other transactions

    The legislation, led by Republicans, would require state government entities to accept electronic versions of gold and silver, called “electronic specie currency,” as payment for taxes and public debts. The bill doesn’t require businesses to accept gold and silver as payment for private uses, but it would allow them to do so.

    “The goal is about restoring economic and political freedom back to everyday Missourians,” state Rep. Bill Hardwick (R) said.

    Source – Just The News

  • /

    Gold rises during holiday trade

    ByVictoria
    0 Comments

    Gold inched higher on Thursday in holiday-thinned trade, as investors focused on the U.S. Federal Reserve’s interest rate strategy and anticipated tariff policies under President-elect Donald Trump, both of which could influence the metal’s direction in the coming year.

    Source – Daksh Grover / Reuters

  • /

    CEO says Barrick will continue in Mali once they can ship gold

    ByVictoria
    0 Comments

    Barrick Gold will resume operations at its shuttered Loulo-Gounkoto mine in Mali once authorities in the country allow it to resume gold shipments, CEO Mark Bristow said on Wednesday.

    “We will start the operations as soon as we get approval to ship the gold and we need to ship the gold to pay anything to the government,” Bristow said, adding that Barrick paid $460 million to the Mali government last year.

    “So if you calculate that to per week… and every week we don’t do this it hurts everyone,” he added.

    Source – Reuters