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Weaker dollar helping gold today

ByVictoria

Gold price rose more than 1% on Thursday, moving away from the one-month low it touched in the previous session, as a pullback in the dollar and fresh U.S. tariff announcements lifted demand for the safe-haven asset.

Spot gold was up 0.9% at $3,305.15 per ounce, as of 1140 GMT. The bullion had hit its lowest level since June 30 at $3,267.79 on Wednesday

“We had some large downward moves yesterday in gold around the FOMC statement release and the tariff announcement. So a moderately weaker U.S. dollar is helping gold today,” said UBS commodity analyst Giovanni Staunovo.

Spot silver was down 1.6% at $36.53 per ounce, platinum fell 0.6% to $1,318.20 and palladium gained 0.9% to $1,215.94.

Source – Reuters

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    Here we will post as often as we can and keep you updated on the site and any news in the precious metals world and of course focus on local businesses.

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    Look forward to seeing you there and engage with you! If there are any honorable mentions of your own local gold and silver dealers in your area that you’d like to see please feel free to reach out.

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    Silver Prices Strengthen [SMM REVIEW]

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    According to SMM, the cash spot prices for national standard silver ingots in Shanghai today were quoted at a discount of 4 yuan/kg to 1 yuan/kg, while the premiums and discounts for large-scale silver ingots were quoted at a range of a discount of 2 yuan/kg to parity.

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  • “Richest shipwreck” gold coins confirmed

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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.

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    Fort Knox US gold reserves prepares of audit

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    Fort. Knox’s massive reserve has reportedly been valued at $425 billion according to the New York Post, with the rest of the United States’ highly sought-after metal being stored in the Federal Reserve Bank of New York. 

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    DOGE – Department of Government Efficiency