Continued safe-haven demand boosting gold price

NEW YORK (February 18) Gold and silver prices are higher in early U.S. trading Monday, with gold posting solid gains. More safe-haven and chart-based buying are featured in the two precious metals to start the U.S. holiday-shortened trading week. The disruptive Trump U.S. presidential administration continues to make waves in the U.S. and around the globe, and the marketplace remains in a state of uncertainty, especially regarding U.S. trade and tariff policies. April gold was up $32.20 at $2,932.90. March silver prices were last up $0.125 at $32.98.

Asian and European shares were mostly higher in trading overnight. U.S. stock indexes are set to open firmer when the New York day session begins. The U.S. stock indexes are back close to their record highs scored late last year.

In overnight news, Australia’s central bank lowered its interest rates for the first time since 2020 but added it will take a cautious approach to any future rate cuts.

U.S. Federal Reserve Governor Waller said data supports keeping U.S. rates on hold but cuts might be warranted later on this year.

Meantime, U.S. and Russian officials are meeting in Saudi Arabia to on ending the Russia-Ukraine war. No officials from Ukraine are taking part.

The key outside markets today see the U.S. dollar index higher. Nymex crude oil futures prices are firmer and trading around $71.25 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently at 4.517%.

U.S. economic data due for release Tuesday includes the Empire State manufacturing survey, the NAHB housing index and Treasury international capital data.

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