Live Spot Gold
Bid/Ask
2,937.902,938.90
Low/High
2,914.002,948.90
Change
-1.00-0.03%
30daychg
+181.40+6.58%
1yearchg
+913.70+45.15%
Silver Price & PGMs
(Kitco News, Friday. Feb. 21st, 2025) – Gold and silver prices are down a bit in early U.S. trading Friday, on some normal profit-taking pressure after recent gains that saw gold prices hit all-time highs Thursday. Safe-haven and technical buying are keeping a solid floor under the two precious metals markets at present. April gold was down $8.10 at $2,948.00. March silver prices were last down $0.091 at $33.395.
Asian and European shares were mixed but mostly firmer in trading overnight. Hong Kong’s Hang Seng rallied by around 4% to close at its highest level since February of 2022. U.S. stock indexes are set to open narrowly mixed when the New York day session begins.
In overnight news, the Trump administration suggested sanctions relief for Russia could be on the table as President Trump seeks a deal to end the Russia-Ukraine war.
The key outside markets today see the U.S. dollar index higher. Nymex crude oil futures prices are weaker and trading around $71.75 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently at 4.486%.
U.S. economic data due for release Friday includes the U.S. flash services and manufacturing purchasing managers’ indexes (PMI), existing home sales and the University of Michigan consumer sentiment survey.
Technically, April gold futures bulls have the strong overall near-term technical advantage. Prices are trending up on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at $3,000.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $2,850.00. First resistance is seen at the contract/record high of $2,973.40 and then at $2,985.00. First support is seen at the overnight low of $2,930.10 and then at $2,900.00.
March silver futures bulls have the firm overall near-term technical advantage amid a price uptrend in place on the daily bar chart. Silver bulls’ next upside price objective is closing prices above solid technical resistance at the February high of $34.24. The next downside price objective for the bears is closing prices below solid support at last week’s low of $31.65. First resistance is seen at this week’s high of $33.785 and then at $34.00. Next support is seen at $33.00 and then at this week’s low of $32.46.
Posted by:
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com