Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold inched down a dime to hold above $1,319 as hopes for a conciliatory State of the Union address boosted stocks and the dollar, trimming appetite for alternative stores of value.

Investors are optimistic that President Trump will have positive news about US-China trade negotiations when he addresses the nation tonight. Talks are underway to end the tariff war that has hampered the world's two largest economies since last summer, with tech intellectual property rights occupying center stage.

Adding to upbeat sentiment, the White House has telegraphed that a state of emergency will not be called over funding for the proposed wall between the SU and Mexico. Rather, further talks over border security are intended to find a compromise that will avert another shutdown of the government. According to the CBO, the last one shaved some $11 billion off GDP.

Wall Street rose on the hope, with the Dow and Global Dow adding 0.6%. The dollar climbed 0.2% against major rivals, pressuring gold and other commodities priced in it for global trade by making them more expensive overseas.

The other precious metals were mostly lower, with silver and platinum shedding 0.3% and 0.4%, respectively, while palladium picked up 0.8%.

At the Comex close: April delivery dipped 10 cents to $1,319.20; March dropped 5 cents to $15.84; April platinum lost $2.90 to $819.90; and March palladium rose $10.80, or 0.8%, to $1,341.20 an ounce.