Live Spot Gold
Bid/Ask
3,333.903,335.90
Low/High
3,288.003,368.80
Change
+45.90+1.40%
30daychg
+313.20+10.37%
1yearchg
+1,012.90+43.63%
Silver Price & PGMs
(Kitco News, Thurs. April 24th, 2025) – Gold prices are sharply up in midday U.S. trading Thursday, on a good corrective bounce from Wednesday’s strong losses. Bulls stepped in to buy the big dip and have held gains today despite the continued rally in the U.S. stock indexes. June gold was last up $48.70 at $3,342.70. May silver prices were last down $0.067 at $33.48.
U.S. stock indexes are solidly up near midday and extending Tuesday’s and Wednesday’s big gains. The big up-moves have improved investor risk appetite in the general marketplace. There may be a thawing in U.S.-China trade relations, following comments from Trump and his administration officials this week, including more today. Trump said the U.S. and China are talking now.
In overnight news, China said it will inject liquidity into its financial system on Friday, which means it’s slightly easing its monetary policy.
The key outside markets today and see the U.S. dollar index lower. Nymex crude oil futures prices are a bit higher and trading around $62.50 a barrel. Reports say OPEC is considering raising crude oil production levels in June. The yield on the benchmark 10-year U.S. Treasury note is presently at 4.319%.
Technically, June gold futures bulls have the solid overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at the contract high of $3,509.90. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $3,200.00. First resistance is seen at the overnight high of $3,377.00 and then at $3,400.00. First support is seen at $3,325.00 and then at $3,300.00.
May silver futures bulls have the firm overall near-term technical advantage. Prices are in an uptrend on the daily bar chart. Silver bulls’ next upside price objective is closing prices above solid technical resistance at $35.00. The next downside price objective for the bears is closing prices below solid support at $32.00. First resistance is seen at this week’s high of $33.675 and then at $32.00. Next support is seen at $33.00 and then at $32.50.
Posted by:
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com