Precious Metals News
In the meantime, LME Steel Scrap CFR India (Platts) Month 2 prices as of March 6, 2025 closed at $381.00 per tonne.
The LME Copper Cash Settlement contract prices increased marginally from $9,541.00 a day before to $9,654.00 per tonne.
The closing price of LME Aluminum 3-Month contract stood at USD 2,698.00 per tonne as of March 6, 2025.
This keeps the USD depressed near a multi-month low and turns out to be a key factor acting as a tailwind for the non-yielding yellow metal.
The bill does not require anyone to accept or offer silver or gold.
The gold holdings for the country totalled 288 tonnes, accounting for 55% of its reserves, WGC report said.
Investment bank Goldman Sachs research analyst Lina Thomas wrote in the latest report that gold prices could keep surging in 2025.
And over the course of 2024, the price of gold shot up by 38 per cent, reaching historic heights.
According to the report, COMEX inventories began to witness rise in late-2024, based on fears that tariffs could impact gold imports.
The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on February 27, 2025 stood at $365.00 per tonne.
The closing price of LME Copper 3-Month contract stood at USD 9,415.50 per tonne as of February 27, 2025.
The LME Aluminum Cash Settlement contract recorded marginal decline from $2,670.50 a day before to $2,655.00 per tonne.
There's a "glut of gold" in New York's vaults, Adrian Ash, BullionVault's director of research, told CNBC.
As traders, it’s crucial to monitor technical levels like 2900 for potential long opportunities.
