Gold News & Info

Source:Dana Samuelson, American Gold Exchange

AustinMetals prices eased lower on Friday in quiet trading. Russia, mired in their war in the Ukraine, indicated Friday it might scale back its more aggressive intentions and focus primarily on controlling the separatist backed Donbass region. The potential easing of tension in the ongoing war contributed to reduced volatility in all major markets Friday.

Gold edged $8.00 lower, silver shed 30 cents, platinum dropped $22.70 while palladium fell a substantial $136.30. A potential easing of tensions in the Ukraine has had the biggest negative affect on palladium prices over the last two weeks because approximately 50% of the world’s palladium supply comes from Russia. Ten days into the conflict on March 4, palladium prices peaked at $3,425. Today palladium closed the New York session at $2,394.30.

At the Comex close: April gold edged $8.00 lower to $1,954.20; May silver dropped 30 cents to $22.60; April platinum fell $22.70 to $1,008.50; and June palladium plunged $136.30 to $2,394.30 an ounce.