Gold

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Gold down 1.2%

ByVictoria
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Spot gold was down 1.2% at $2,882.49 an ounce as of 09:42 a.m. ET (1442 GMT), after hitting its lowest level since February 12 earlier in the session. Prices hit a record high of $2,956.15 on Monday, driven by safe-haven flows.

“The direction of gold is very evident, and these short-term bumps and some profit taking is just a normal part of the cycle,” said Alex Ebkarian, chief operating officer at Allegiance Gold.

Spot silver retreated 0.5% to $31.67 an ounce, platinum fell 0.9% to $957.10 and palladium dropped 0.9% to $917.96.

Source – Reuters

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Gold spot fell and investors waiting for data on Friday

ByVictoria
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Spot gold fell 0.7% to $2,894.55 an ounce as of 09:44 a.m. ET (1444 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns emerging from tariff threats.

“Bullish trend is still in place… We are not surprised by a period of consolidation ahead of some piece of important data,” said David Meger, director of metals trading at High Ridge Futures.

Spot silver was down 0.5% to $31.57, platinum eased 0.4% to $963 and palladium dropped 0.4% to $924.01.

Source – Reuters

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Gold falls, trade war fears continue

ByVictoria
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Spot gold fell 0.6% to $2,934.99 an ounce as of 09:55 a.m. (1455 GMT), after reaching $2,956.15 on Monday.

U.S. gold futures declined 0.5% to $2,948.60.

Trump said on Monday that tariffs on Canadian and Mexican imports were “on time and on schedule”

“I still think that there’s enough uncertainty out there associated with tariffs (and) trade more generally… dips are going to continue to be viewed as buying opportunities,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

Spot silver shed 1.2% to $31.96 an ounce, platinum dropped 0.8% to $959.35 and palladium lost 0.8% to $932.50.

Source – Reuters

Footage of Gold toilet burglary

ByVictoria
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The footage played at their trial at Oxford Crown Court showed two vehicles driving across the Great Courtyard, before hooded individuals armed with sledgehammers and a large crowbar broke into the palace. One could be seen leaving carrying a golden toilet seat.

The fully functioning lavatory was insured for the sum of $6m (£4.8m), the court heard previously.

“They knew precisely where to go, broke down the wooden door to the cubicle where the toilet was fully plumbed in, removed it, leaving water pouring out of the pipes, and drove away,” prosecutor Julian Christopher KC said previously.

“Clearly such an audacious raid would not have been possible without lots of preparation”, he added,

Source – BBC

I will follow this till the end of the trial. I want to know what happened to the toilet! Maybe you do too. Clearly had to have been planned and to have done it so quickly, from the video evidence anyway. Let’s see what happens. -V.

Three men on trial over stolen GOLD toilet

ByVictoria
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The one-of-a-kind 18-carat gold toilet was swiped in under five minutes from Blenheim Palace, the sprawling English country mansion where British wartime leader Winston Churchill was born, in the predawn hours of September 14, 2019, a prosecutor told jurors Monday.

The toilet has never been recovered but is believed to have been cut up and sold.

All the defendants have pleaded not guilty.

Source – CNN

I thought this was interesting and thought I’d share. I’m not entirely surprised that something was stolen I am surprised that the burglars got away with the darn thing! I feel like this is actually kinda funny but hopefully justice will be served. – V.

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Precious Metals with highs and pressure

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Gold

Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.

Silver

Silver declined below the $32.50 level as gold/silver ratio climbed above the 91 level.

Platinum

Platinum tests new lows as traders react to the strong sell-off in palladium markets, which are down by 3.4%.

Source – FXEMPIRE

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Gold prices higher, Silver prices lagging

ByVictoria
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Asian and European shares were mixed to weaker in trading overnight. U.S. stock indexes are set to open higher on corrective bounces following Friday’s big sell offs.

German stocks rose as investors cheered a win by German conservative leader Friedrich Merz in Sunday’s elections.

The Euro zone January consumer price index came in at up 2.5%, year-on-year, which was right in line with market expectations.

Source – KITCO News

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Gold and Silver in demand

ByVictoria
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“The uncertainty over US tariffs is pushing investors toward safe-haven assets like gold,” said Michael Hewson, Chief Market Analyst at CMC Markets.

The weaker US Dollar, coupled with uncertainties surrounding US trade policies, is supporting silver’s bullish momentum.

Gold (XAU/USD) is trading at $2,940.57, showing a modest gain of +0.07%.

Silver (XAG/USD) is trading at $32.68, slightly down by -0.03%.

Source – FXEMPIRE

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Gold set for eighth weekly gain

ByVictoria
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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