Silver has initially fallen significantly in the early hours of Tuesday, as the market reacted to the ceasefire, taking out some of the “risk trade.” However, we are holding the range again. Ultimately, there are a lot of “moving pieces” to pay attention to.
Source – FX EMPIRE
“The de-escalation of tensions in the Middle East is the primary factor that’s weighing on gold. The safe-haven bid has diminished and the market is in more of a risk-on mode,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
“We’ve got pretty good support around $3,300 and then even better support probably at $3,250.”
Global shares surged and the dollar dropped on Tuesday after news of the ceasefire between Israel and Iran, while markets shrugged off what U.S. President Donald Trump called violations by both sides.
Source – Reuters
The dollar fell to a one-week low against a basket of major currencies as oil prices declined and demand for safe havens waned. Investors can “breathe a sigh of relief that chances of a major escalation have been reduced,” Jefferies economist Mohit Kumar said. The DXY dollar index fell 0.4% to a low of 97.969.
Gold futures also fell, last down 1.8% at $3,334.50 a troy ounce, close to levels last seen before Israel launched strikes on Iranian nuclear facilities earlier this month.
Source – The Wall Street Journal
Futures – are contracts to buy or sell a specific asset at a future date.
Gold eased on Monday as the dollar held firm, while market participants remained cautious, watching for any potential Iranian retaliation to U.S. strikes on its nuclear sites.
Spot gold was down 0.2% at $3,359.99 an ounce, as of 0820 GMT. U.S. gold futures fell 0.3% to $3,375.20.
Higher energy prices could potentially delay a Fed rate cut and strengthen the dollar, said Ole Hansen, head of commodity strategy at Saxo Bank.
Spot silver rose 0.4% to $36.12 per ounce, platinum was up 2.3% at $1,293.90, while palladium gained 2.5% to $1,070.33
Source – Reuters
Gold prices fell on Friday and were poised for their worst weekly performance in more than a month after the Federal Reserve tempered expectations for rate cuts and on a temporary easing of concerns about an imminent U.S. attack on Iran.
Spot gold slipped 0.7% to $3,347.80 an ounce, as of 1201 GMT, and was down 2.5% for the week so far. U.S. gold futures shed 1.3% to $3,364.00.
“Gold, silver, and platinum all suffered setbacks as traders booked profits after Wednesday’s FOMC meeting,” said Ole Hansen, head of commodity strategy at Saxo Bank.
“Gold is likely to extend its current consolidation phase with support around $3,320 followed by $3,245.”
Source – Reuters
Spot gold was up 0.2% at $3,374.54 an ounce, as of 0505 GMT. U.S. gold futures eased 0.5% to $3,391.90.
“Gold has made a modest bounce as we await the next steps in the Israel-Iran conflict. If the U.S. does decide to get directly involved in the conflict this could raise the geopolitical stakes,” KCM Trade Chief Market Analyst Tim Waterer said.
“The Fed was not as dovish as some had hoped, and I’d argue Powell was a tad more hawkish than many would like. The U.S. dollar is likely at oversold levels, and that is likely to cap gains on gold over the next few weeks,” said Matt Simpson, a senior analyst at City Index.
Source – Reuters
The 20-coin 2025 Uncirculated Coin Set is slated for sale to the general public by the United States Mint beginning at noon Eastern Time July 17.
The sets are offered at $33.25 each, with a maximum output of 190,000 sets, offered without household order limits.
Each set contains two separate blister-pack folders of 10 coins each, one pack apiece from production at the Philadelphia and Denver Mints. Coins included in the set have an Uncirculated finish but are struck to higher standards than their circulating counterparts.
Source – Coin World
A limited-edition, privy-marked Proof 2025-W American Eagle silver dollar prepared for release June 13 from the United States Mint celebrates the 250th anniversary of establishment of the Continental Army during the American Revolutionary War, on June 14, 1775.
As of May 24, the Mint had not yet established pricing for the privy-marked American Eagle. The product is limited to an issue of 100,000 coins. Each household order is restricted to three coins during the first 24 hours of sales, after which the limit will be lifted.
The commemorative privy-mark — containing elements of the U.S. Army’s official seal — is positioned in the field behind Liberty, to the left of the Y in the inscription LIBERTY.
Source – Coin World
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
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
