AGE Daily Gold Update

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

3/17/2025: Gold reclaims $3,000 on data

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained 0.2% to close at $3,000 as Treasury yields and the dollar slipped on weak US data ahead of this week's Fed meeting. Silver shed 0.3% to finish at $34.07 an ounce.

Retail sales rose a meager 0.2% in February, far below forecasts of 0.6%, as consumers hit pause over the uncertainty surrounding new Trump administration policies on trade and immigration. But the so-called "control group" that includes building materials, autos, and gasoline rose 1%, lending hope for solid GDP growth.

Homebuilder sentiment tumbled to a seven-month low in March as tariffs on imports hiked construction costs.

The OECD warned today that Trump tariffs will slow economic growth in the US, Canada, and Mexico while increasing inflation. It projects the US economy to expand by 2.2% this year, down from 2.4% in its previous forecast.

Benchmark 10-year Treasury yields retreated to just under 4.3% on the soft data as investors sought the perceived safety of government debt. Falling yields support gold by decreasing the opportunity cost for holding it instead of bonds for safety.

Tracking lower with yields, the dollar shed 0.3% on concerns that tariffs could tip the US toward recession, prompting rate cuts from the Fed later this year. A weaker dollar supports gold and other commodities by making the cheaper overseas.

The Fed is almost certain to leave interest rates unchanged when it meets this week to discuss monetary policy. Market observers will scour the ensuing policy statement for clues about forward guidance.

Platinum slid 0.5% while palladium added 1.1%.

At the New York spot close: gold gained $5.50 to $3,000; silver slipped 11 cents to $34.07; platinum shed $5.40 to $1,004.50; and p0alladium picked up $10.85 to $937.15 an ounce.