Metals trade at highest level of the month on geopolitical uncertainty Gold on Friday traded at their highest level of the month, setting prices up for a third weekly gain in a row as a fresh round of geopolitical jitters offset expectations for higher interest rates, which would otherwise be bearish for gold prices. Investors were watching North Korea, this weekend’s Group of Seven meeting, the coming U.K. elections, and the Trump administration, helping to…
Arizona governor Doug Ducey greenlighted House Bill 2014, removing income tax from certain precious metals at the state level. Phoenix, Arizona – Sound money advocates rejoiced yesterday as House Bill 2014 became the law in Arizona. HB 2014, which passed in the Arizona state Senate on May 10th by a margin of 16–13, removed all income taxation of precious metals coins at the state level.
Spot gold expected to test resistance at $1,255/oz Palladium on track for worst weekly fall since late January Platinum, silver heading for biggest weekly gain in five weeks Gold prices edged up on Friday and were on track for their biggest weekly gain since mid-April as the dollar eased amid lingering political turbulence in the United States.
Gold prices extended gains for a fourth day on Tuesday as political troubles in the US dented the dollar, while a more upbeat scenario in Europe lifted the euro. “The dollar is weak today, which has helped precious metals across the board,” said Carsten Menke, analyst at Julius Baer in Zurich, adding the move in the greenback was a combination of events in the US and Europe.
A new day is dawning for precious metals. Gold and silver — the world’s oldest money — are “connecting” with the newest money, digital cryptocurrencies. The final outcome of this nexus is unpredictable, but it is foolhardy to ignore what is taking place.
The medium-term trends in gold are reflected by the medium-term trends in the USD Index and that’s been the case for many years. Naturally, there are deviations from this rule, but generally, it has to be the case simply because gold is priced in the US dollar. Consequently, it is very important for precious metals investors and traders to monitor the USD Index as signs of bottoms likely indicate lower prices for PMs in the…
Risk appetite remained firm following the French Presidential election, although overall influences on gold were mixed as markets looked for direction from bond markets given choppy currency markets. Gold prices traded in a narrow range just below $1,230 late in the US session on Friday as the US employment data failed to provide sustained direction. For the week as a whole, gold fell over 3.0%, the sharpest decline for close to six months.
The first 100 days of the Trump administration have brought some surprises and disappointments — as well as some new threats and new opportunities for precious metals investors. Among the disappointments was President Trump’s inability to push Obamacare repeal through Congress. The White House intended for the GOP’s replacement to reduce the deficit and lay the groundwork for tax cuts.
Gold Today: New York closed at $1,257.20 yesterday after closing at $1,265 Friday. London opened at $1,255.00 today.
Gold eked out a modest gain Thursday, snapping a three-day slide as futures rebounded from the lowest finish in 2½ weeks. June gold rose $1.70, or 0.1%, to settle at $1,265.90. It settled Wednesday at $1,264.20 an ounce, the lowest finish for a most-active contract since April 10, according to FactSet data.