AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

2/14/2025: Gold rises for 7th straight week

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold fell 1.4% to close below $2,884 despite weak US data, sharply lower Treasury yields, and a softer dollar as traders took profits from this week’s rally to new all-time highs. Bullion still gained 0.6% for the week, notching its seventh straight weekly increase. Silver slid 0.5% to close at $32.80 while posting a weekly rise of 1.4%.

US retail sales fell 0.9% in January, the most in nearly two years, suggesting anemic economic growth to start 2025. Retail sales are a fundamental measure of consumer spending, which accounts for around 70% of GDP.

US manufacturing output also fell unexpectedly last month, reversing a recovery that began with lower interest rates in Q4. President Trump’s protectionist trade policies are expected to further undermine the manufacturing rebound by interrupting supply chains and raising prices on raw materials.

Fed fund futures traders upped their bets on rate cuts from the Fed after the soft data prints. CME FedWatch now projects 40 basis points of cuts by September, up from around 20 a few days ago.

Benchmark 10-year Treasury yields fell sharply to under 4.5% as investors sought safety from the increasing likelihood of damaging trade wars by piling into government bonds. The dollar retreated 0.4% to post a weekly loss of 1.2%.

Platinum dropped 0.9% today but gained 0.8% this week. Palladium shed 0.9% but still posted a 1.4% weekly increase.

At the New York spot close: gold fell $42.30 to $2,883.60; silver slipped 15 cents to $32.80; platinum dropped 8.70 to $983.20; and palladium retreated 8.80 to $989.40 an ounce.