AGE Daily Gold Update

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

3/11/2025: Metals rebound from yesterday's equity liquidity event

Source: Dana Samuelson, American Gold Exchange

Austin — Gold, silver, platinum, and palladium all rebounded in New York trading today following yesterday’s huge stock sell-off liquidity event. At the New York close gold was up 0.8%, silver 1.9%, platinum 1.7% and palladium 0.8%. Gold moved higher still in the electronic session for a 1.1% gain on the full trading day.

The US dollar fell another 0.55 points on the US dollar index to 103.29, its lowest level since election day. Conversely, the yield on the 10-year US treasury edged higher 0.6% to 4.28%.

Tomorrow we will look forward to the latest CPI inflation report that analysts are anticipating will show a gain of 0.3% MoM.

Concerns and uncertainty over tit-for-tat tariff gamesmanship escalated between the US and Canada. Last night Ontario Premier Doug Ford vowed to put 25% tariffs on electricity Ontario provides to Minnesota, New York, and Michigan. This morning President Trump announced he would double tariffs to 50% on imports of Canadian steel and aluminum effective tomorrow. The US imports about 11% of its steel and about 40% of its aluminum from Canada.

And, of course, no sooner than the ink here has dried on the page, both Ontario Premier Ford and President Trump have taken a step back on their one-upmanship. Ford and US Commerce Secretary Howard Lutnik will meet in Washington on Thursday. Apparently, no electric surcharge from Canada will be applied, and it looks like additional 25% tariffs on steel and aluminum will not either.

Stocks continued their skid lower to short-term cyclical lows early in the trading session. As trading activity continued, however, all three US equity indices rebounded from daily lows. At the close the DOW fell 1.1%, the S&P 500 dropped 0.76% while the NASDAQ eased 0.18% lower. The intraday reversal mitigating another rout was attributed to the easing of tension between the US and Canada over tariffs and a renewal of negotiations between the US and Ukraine.

The US and Ukraine announced following today’s meeting in Saudi Arabia terms for a 30-day cease fire by Ukraine have been agreed upon if Russia will agree to the terms as well. The US will resume intelligence sharing and security assistance to Ukraine and both countries will work together to develop Ukraine minerals deposits.

At the New York spot close: gold gained $21.90 to $2,912.90; silver rose $0.61 to $32.89; platinum advanced $18.71 to $980.71; and palladium moved $9.80 higher to $949.60.