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    Gold steady, Platinum at its highest

    ByVictoria
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    Gold prices were little changed on Wednesday as investors waited for the Federal Reserve’s policy decision and comments from Chair Jerome Powell, while platinum surged to a more than four-year peak.

    Spot gold was steady at $3,387.89 an ounce by 1145 a.m. EDT (1545 GMT).

    “The prevailing trend of seeking alternative stores of value beyond the U.S. dollar remains strong, driven by a growing desire for assets that are independent of external control,” said Ryan McIntyre, Managing Partner at Sprott Inc.

    Spot silver fell 1% to $36.87 per ounce

    Platinum added 3.5% to $1,306.68, highest since February 2021.

    Source – Reuters

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    Gold up .6%, dollar weak

    ByVictoria
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    Spot gold was up 0.6% at $3,373.09 an ounce, as of 0552 GMT. U.S. gold futures gained 1.5% to $3,393.80.

    The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that a “bullish breakout” of the $3,346 resistance triggered technical buying.

    Spot silver was up 0.4% at $36.38 per ounce, platinum rose 1.2% to $1,271.15, still hovering near a more than 4-year high, while palladium was down 1.1% at $1,068.19.

    Source – Reuters

  • “Richest shipwreck” gold coins confirmed

    ByVictoria
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    Experts have confirmed that dozens of gold coins scattered across the ocean floor off the coast of Colombia belonged to the San José, an ill-fated Spanish treasure galleon that sank over 300 years ago during a battle with British warships. The findings were published on June 10 in the journal Antiquity.

    The 64-gun, three-masted Spanish flagship alone carried as much as 200 tons of treasure with a modern value estimated as high as $17 billion by today’s standards.

    The key pieces of evidence were dozens of rough gold coins sitting on the ocean floor. The treasure had an average diameter of 1.3 inches and each weighed around one ounce.

    “Hand-struck, irregularly shaped coins—known as cobs in English and macuquinas in Spanish—served as the primary currency in the Americas for more than two centuries,” Daniela Vargas Ariza, a maritime archeologist and the study’s lead author said in a statement.

    Source – Popular Science

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    Gold to remain stong, silver expected to rise

    ByVictoria
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    Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key U.S. inflation data for clues on the Federal Reserve’s interest rate trajectory.

    Spot gold XAU= was up 0.3% to $3,330.69 an ounce at 1122 GMT. U.S. gold futures GCcv1 were up 0.3% to $3,351.60.

    “Gold should remain supported as long as global trade tensions risk escalating further, or even just staying elevated for longer.”

    “We expect silver to reach $38/oz in the coming months. Market deficit considerations and a weaker USD hold the key for even higher prices – a test of $40/oz is possible,” UBS said.

    Source – Reuters

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    Central banks are stocking up

    ByVictoria
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    They bought over 1,000 tonnes of the precious metal last year, double the average amount purchased in the previous decade, according to a European Central Bank report published on Wednesday.

    The authors wrote that global holdings of gold by reserve banks increased to 36,000 metric tons in 2024, close to the record of 38,000 metric tons reached around 60 years ago.

    Now, central bank reserves are composed of, on average, the dollar, at 46%, gold, at 20%, other currencies at 18%, and the euro at 16%.

    Source – Business Insider

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    iShares silver outperforms gold

    ByVictoria
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    This year’s returns on silver, at 26.8%, have inched slightly above gold, according to the prices of two popular exchange-traded funds, the iShares Silver Trust and SPDR Gold Shares as of Monday’s trading.

    It is the first time the iShares silver ETF has outperformed gold’s year-to-date gains in 48 trading days. As recently as May, the gold fund’s 2025 returns were nearly double that of silver. Much of the catch-up has taken place in June as the silver ETF gained 11% while the gold fund gained 1%.

    Source – Barron’s

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    Gold up, Silver steady

    ByVictoria
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    Spot gold was up 0.3% at $3,336.33 an ounce, as of 1224 GMT, after falling to a low of $3,301.54 earlier in the session. U.S. gold futures were up 0.1% at $3,357.20.

    “Gold found some floor amid dip-buying, though the uptick lacked bullish conviction. Fiscal concerns and Fed rate cut bets are the catalyst for a recovery in the prices,” said Jigar Trivedi, senior commodity analyst at Reliance Securities.

    Spot silver was steady at $36.72 per ounce, hovering near a more than 13-year high. Platinum eased 0.1% to $1,218.85, after hitting its highest level since May 2021. Palladium lost 1.4% to $1,059.02.

    Source – Reuters

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    Gold, Silver, and Platinum up

    ByVictoria
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    Gold prices rose on Monday, supported by a weaker U.S. dollar ahead of U.S.-China trade talks aimed at resolving tensions, while platinum extended gains for a sixth straight session to scale a four-year peak.

    Spot gold rose 0.4% to $3,323.71 an ounce, as of 0806 GMT, after dropping earlier in the session to $3,293.29, its lowest level since June 2.

    Spot platinum rose 3% to $1,210.80, its highest level since May 2021.

    Spot silver was up 1% to $36.3 per ounce, while palladium rose 2.3% to $1,070.97.

    Source – Reuters

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    Gold is turning jewelers to platinum

    ByVictoria
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    Prices of platinum, a white precious metal, have rallied over 30% this year to date, with spot prices currently around $1,200 per ounce. Spot gold prices are around 27% higher over the same period.

    “Rising gold prices are incentivising jewellers to diversify, in what represents a change to historical patterns.”

    The BofA analysts wrote that even a 1% switch in gold to platinum jewelry could help double the white metal’s supply deficit to 1.6 million ounces.

    Source – Markets Insider

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    Hindustan Zinc shares up 5%

    ByVictoria
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    The shares of Hindustan Zinc surged nearly 6 percent to trade at Rs 496 apiece on June 5 on the back of a notable surge in silver prices in India.

    Hindustan Zinc is the largest producer of silver in India, and produces refined silver with a minimum 99.9 percent purity. The sharp rise in the bullion’s prices is expected to further boost the stock.

    Hindustan Zinc shares have gained nearly 16 percent in the past one month, but dropped nearly 27 percent in the past one year.

    Source – Money Control