Live Spot Gold
Bid/Ask
2,893.002,894.00
Low/High
2,857.102,895.70
Change
+35.90+1.26%
30daychg
+93.80+3.35%
1yearchg
+810.70+38.93%
Silver Price & PGMs
(Kitco News, Monday. March 3rd, 2025) – Gold and silver prices are posting very sharp gains in midday U.S. trading Monday, on fresh safe-haven demand due to elevated geopolitical tensions, and amid a big drop in the U.S. dollar index to start the trading week. April gold was last up $54.70 at $2,902.70. May silver prices were last up $0.929 at $32.425.
Risk aversion is elevated to start the trading week, following Friday’s tense meeting between U.S. President Trump and Ukrainian President Zelensky that put in jeopardy U.S. relations with Ukraine and the potential for a ceasefire between Ukraine and Russia. Meantime, U.S. trade tariffs against Mexico, Canada and China are set to go into effect Tuesday. Gold prices are sharply higher to start the week, after last week seeing its worst week in three months.
The key outside markets today see the U.S. dollar index sharply lower. Nymex crude oil futures prices are slightly down and trading around $69.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently at 4.199%.
Technically, April gold futures bulls have the firm overall near-term technical advantage. However, a price uptrend on the daily bar chart has been at least temporarily negated. Bulls’ next upside price objective is to produce a close above solid resistance at the contract high of $2,974.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $2,800.00. First resistance is seen at $2,920.00 and then at $2,942.00. First support is seen at the overnight low of $2,866.30 and then at $2,850.00.
May silver futures bulls and bears are on a level overall near-term technical playing field. However, prices are trending down on the daily bar chart. Silver bulls’ next upside price objective is closing prices above solid technical resistance at $33.00. The next downside price objective for the bears is closing prices below solid support at $30.00. First resistance is seen at $32.61 and then at $33.00. Next support is seen at $32.00 and then at the overnight low of $31.635.
Posted by:
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com