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Spot gold and silver prices are lower ahead of the North American market open Thursday, as rising Treasury yields, a firmer U.S. dollar and another surge in crude oil prices outweighed safe-haven demand tied to the U.S.-Iran conflict. At the time of writing, spot gold was trading near $4,066.82 an ounce, down 1.52%, while spot silver was trading near $58.06, down 2.75% on the session.
Gold prices are at session lows on Thursday morning following the release of better than expected labor market data after the number of Americans filing new claims for unemployment benefits came in below economists' forecasts.
The gold market continues to base-build at key long-term support levels even as the European Central Bank takes a neutral stance on monetary policy in the face of persistent inflation threats.
Hong Kong-listed AGTech Holdings said on Thursday that its unit inked a technical service agreement with Hong Kong Gold Exchange (HKGX) to develop an electronic trading, clearing and settlement platform.
Aureus Asset Management LLC boosted its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 242.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 9,322 shares of the exchange traded fund's stock after acquiring an additional 6,597 shares during the period. Aureus Asset Management
Spot gold and silver prices have rallied this week, but remain well below all-time highs achieved in late January. Analysts attribute recent gains to "bargain hunting" but see little chance of a sustained rally.
Gold was steady. While a modest dollar pullback has supported gold prices, the broader outlook for the metal remains bearish in the near term due to elevated bond yields across major economies, said Critical Metals.
Spot gold and silver prices are higher in late-afternoon U.S. trading Wednesday, as technical buying and defensive demand lifted metals despite higher crude oil prices, firmer Treasury yields and a choppy U.S. equity session. At the time of writing, spot gold was trading near $4,136.60 an ounce, up 1.47%, while spot silver was trading near $59.72, up 1.80% on the session.
SEC filings for IAU aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.