Precious Metals

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List of 50 exempt items Gold and Silver included

Non-tariff barriers are meant to limit the amount of imports/exports and protect domestic industries. In some relief to consumers globally, the Trump administration has kept some essential items exempt from the purview of these tariffs.

Items exempt from the tariffs levied by Trump include copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, as well as energy and energy products. 

Source – GoldSilver Reports

Long list of all exempt items when you go to the website. Hope that helps! – V.

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Gold and Silver forecast

Gold (XAU/USD) rose sharply during the Asian session on Thursday, reaching $3,126.67, as global markets reacted to renewed trade tensions. 

Silver (XAG/USD) is trading at $33.28, having touched a session low of $33.07. Despite gold’s upward momentum, silver’s response has been more restrained, weighed down by its industrial use case.

Source – FX EMPIRE

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Central Banks keep gold rally

Central banks are expected to help keep gold’s stunning rally going this year with buying aimed at further diversifying reserves away from the dollar due to risks stemming from U.S. President Donald Trump’s policies.

Spot gold hit its latest record at $3,167.57 a troy ounce on Thursday for a gain of 19% since the start of 2025 and a hefty 71% rise since the end of 2022.

“Emerging market central banks currently hold around 10% of their assets in gold. They should really hold 30% of their assets in gold,” said BofA commodity strategist Michael Widmer.

“From the central banking perspective (uncertainty) means less incentive to add Treasuries into portfolios and more incentive to actually de-dollarise it,” he said.

Source – Reuters

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Gold futures rising

Gold price have risen from Wednesday’s record close, propelled by fears that Trump’s tariffs will continue to hammer stocks and expectations that central banks will continue to hoard the precious metal. Gold futures for April delivery settled Wednesday at $3,139.90 a troy ounce, the latest notch in their 19% climb this year.

Source – The Wall Street Journal

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“Liberation Day” tariffs!

Stocks recoiled on Wednesday, while safe-haven gold held near record highs as a nervous world awaited details of U.S. President Donald Trump’s tariff plans and investors fretted about the risks of an intensifying global trade war.

“Whatever’s announced today, I doubt very much will be the framework that’s in place in, say, nine months’ time because we know there’ll be negotiations around this,” Daiwa Capital economist Chris Scicluna said.

“It’s very difficult to predict with any confidence what the ultimate impact is going to be, whether broadly, economically, in terms of rates or in terms of stock markets,” he said.

“Investors are hoping for some clarity, and perhaps the start of the deal-making phase. But tariffs are already weighing on business sentiment, and this will probably feed through into lower global economic activity in the coming months,” said Ben Bennett, Asia-Pacific investment strategist at Legal & General Investment Management.

Source – Reuters

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Gold hit another record high

Gold is on a tear, hitting a record high in New York on Monday at almost $3,150 an ounce to bring the rise this year to 19%.

Analysts at Bank of America think gold could hit $3,500 an ounce if demand increases by 10%.

“Uncertainty around Trump Administration trade policies could continue to push the dollar lower, further supporting gold prices near-term. In our view, a broad rebalancing of America’s twin deficits could be bullish gold too.”

Source – Markets Insider

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Gold and Silver prices over seas

On April 1, 2025, 24 carat gold is priced at ₹89,330/10 gm, according to data on the Indian Bullion Association (IBA) at 10.15 am. Further, 22 carat gold is priced at ₹81,886/10 gms. Gold bullion prices have remained steady over the past 24 hours.

Silver meanwhile, is priced at ₹1,01,200/kg (Silver 999 Fine) at 10.15 am on April 1, according to the IBA website. On the MCX index, the price of Silver has increased by ₹834 to ₹1,00,899/kg.

Source – Live Mint

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“Silver Guru” David Morgan gives his take on current silver market

In a recent interview with Liberty and Finance, the esteemed precious metals analyst David Morgan, widely known as the “Silver Guru,” delivered a compelling analysis suggesting that silver prices are on the cusp of a significant surge. Drawing upon his extensive knowledge of the precious metals market, Morgan highlighted the current lack of substantial upside resistance for silver, hinting at a potential rapid upward movement that has yet to materialize fully.

“I mean, we’re high enough in the silver price for it to have very little upside resistance and to be able to just move, move, and move some more, and it hasn’t started yet.”

Morgan believes that broader market dynamics and the inherent appeal of silver as a monetary and industrial metal will eventually draw them back in.

Source – The Jerusalem Post