Gold price hits record high as safe-haven flows continue

NEW YORK (March 27) Gold and silver prices are solidly higher in early U.S. trading Thursday, with Comex gold futures poking to a new record high of $3,065.50 an ounce. A steady stream of safe-haven demand is keeping the precious metals prices elevated. The low volatility in the gold market, at record-high levels, suggests prices can continue a steady climb. April gold was last up $38.20 at $3,060.70. May silver prices were last up $0.523 at $34.745.

Asian and European stock markets were mixed in quieter overnight trading. U.S. stock indexes are pointed to mixed openings today in New York. Risk appetite is not keen in the general marketplace late this week, following the latest salvo of tariffs on imported vehicles from the Trump administration.

The key outside markets today see the U.S. dollar index slightly down. Nymex crude oil futures prices are slightly weaker and trading around $69.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently 4.393%.

U.S. economic data due for release Thursday includes the weekly jobless claims report, the third estimate for fourth-quarter GDP, including the inflation indexes, the advance economic indicators report, pending home sales and the Kansas City Fed manufacturing survey.

KitcoNews