{"id":15023,"date":"2025-02-16T10:53:14","date_gmt":"2025-02-16T10:53:14","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/02\/16\/editors-picks-gold-price-breaks-us2900-in-another-record-setting-week\/"},"modified":"2025-02-16T10:53:14","modified_gmt":"2025-02-16T10:53:14","slug":"editors-picks-gold-price-breaks-us2900-in-another-record-setting-week","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/02\/16\/editors-picks-gold-price-breaks-us2900-in-another-record-setting-week\/","title":{"rendered":"Editor\u2019s Picks: Gold Price Breaks US$2,900 in Another Record-Setting Week"},"content":{"rendered":"<\/p>\n

Gold continued its record-setting rise this week, moving cleanly past the US$2,900 per ounce mark on Monday (February 10) and continuing on up. At the time of this writing on Friday (February 14), the yellow metal\u2019s highest price for the period was about US$2,933.<\/strong><\/p>\n

Trade war concerns remain front and center, with US President Donald Trump saying on Monday that he would be imposing 25 percent tariffs on all steel and aluminum imports to the country. <\/p>\n

The levies will take effect on March 12, and are geared at bolstering US production and jobs.<\/p>\n

Trump escalated tariff talk even further on Thursday (February 13) by announcing reciprocal tariffs on goods coming into the US. They could start being put in place within weeks, and will reportedly be based on which tariffs individual countries have imposed on the US.<\/p>\n

\u2018I have decided for purposes of fairness that I will charge a reciprocal tariff. Meaning whatever countries charge the United States of America we will charge them, no more no less\u2019 \u2014 US President Donald Trump<\/p>\n

Although one of Trump\u2019s campaign promises was to curb inflation, he\u2019s said tariffs could initially send prices higher for American buyers. Time will tell, but new consumer price index (CPI) and producer price index (PPI) data shared this week confirms that inflation continues to be sticky.<\/p>\n

Bureau of Labor Statistics information shows CPI was up 3 percent year-on-year in January, above analysts\u2019 expectations and higher than the 2.9 percent rise seen in December. On a monthly basis, CPI was up 0.5 percent, its biggest increase since August 2023. Core CPI, which excludes the volatile food and energy categories, was up 3.3 percent year-on-year and 0.4 percent from the previous month.<\/p>\n

January PPI numbers also came in hotter than expected, rising 0.4 percent from December and 3.5 percent compared to January 2024. PPI tracks inflation before it reaches consumers.<\/p>\n

During his semiannual testimony to Congress US Federal Reserve Chair Jerome Powell commented on the state of the economy, saying that the central bank isn\u2019t in a hurry to reduce interest rates further. <\/p>\n

\u2018With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance\u2019 \u2014 Jerome Powell, US Federal Reserve<\/p>\n

Gold tends to fare better when rates are lower, but lately has been bucking the trend \u2014 its historic price run began even before the Fed started cutting.<\/p>\n

\n

Bullet briefing \u2014 US seeks Ukrainian rare earths <\/h3>\n

US seeks Ukrainian rare earths<\/h4>\n

Ukraine may strike a rare earths supply deal with the US as the country looks to secure continued support in its war against Russia. Trump said last week that he expects \u2018equalization\u2019 from Ukraine for the help it has received, explaining that he wants to see in the form of US$500 billion worth of rare earths.<\/p>\n

\u2018We\u2019re telling Ukraine they have very valuable rare earths. We\u2019re looking to do a deal with Ukraine where they\u2019re going to secure what we\u2019re giving them with their rare earths and other things\u2019 \u2014 US President Donald Trump<\/p>\n

The president\u2019s comments have raised numerous questions, including whether he\u2019s referring specifically to rare earths, or to critical minerals in general.<\/p>\n

Experts have also weighed in on whether Ukraine has the ability to supply such a large amount of material to the US \u2014 the Associated Press notes that existing geological studies are \u2018largely inadequate\u2019 and states that 40 percent of Ukraine\u2019s metallic mineral resources are inaccessible due to Russian occupation.<\/p>\n

It remains to be seen how this situation will play out, but it\u2019s worth noting that Ukraine\u2019s president appears encouraged by discussions with Trump.<\/p>\n

\u2018Very substantive negotiations with the United States of America. I had a conversation with President Trump \u2013 a good and detailed discussion; I am grateful to the President for his genuine interest in our shared opportunities, in how we can work together to bring real peace closer\u2019 \u2014 Ukraine President Volodymyr Zelensky<\/p>\n

Send us your questions<\/h4>\n

We\u2019ll be speaking with Kevin Wadsworth and Patrick Karim of Northstar Badcharts, Craig Hemke of TFMetalsReport.com and Yvonne Blaszczyk of BMG Group. Leave a comment below with your thoughts. <\/span><\/p>\n<\/div>\n

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Gold continued its record-setting rise this week, moving cleanly past the US$2,900 per ounce mark on Monday (February 10) and continuing on up. At the time of this writing on Friday (February 14), the yellow metal\u2019s highest price for the period was about US$2,933. Trade war concerns remain front and center, with US President Donald […]<\/p>\n","protected":false},"author":0,"featured_media":15024,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-15023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=15023"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/15024"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=15023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=15023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=15023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}