(Kitco News) – Gold and silver prices are higher and near their daily highs in late-morning U.S. trading Wednesday. Nearby gold futures prices hit another record high today, at $2,157.50. The precious metals are getting a lift from remarks by the head of the U.S. central bank that the marketplace deemed as slightly dovish on monetary policy. April gold was last up $13.30 at $2,155.20. May silver was last up $0.421 at $24.40.

Federal Reserve Chairman Jerome Powell spoke to the U.S. House of Representatives committee on U.S. monetary policy today. Powell said interest rat cuts will likely be appropriate this year and that interest rates are at their peak for the current cycle. However, Powell said the Fed needs greater confidence on winning the inflation battle before lowering interest rates. However, he added inflation has eased notably. The U.S. stock indexes also rallied after Powell’s comments. The U.S. dollar index sold off and U.S. bond yields down-ticked a bit. Powell also said he thinks the U.S. economy can achieve a soft landing.

Today’s February ADP national employment report same out and showed jobs growth of 140,000, which compares to expectations for a rise of 150,000. The ADP report is a precursor to Friday morning’s monthly jobs report from the Labor Department.

The other key outside market today sees Nymex crude oil prices solidly up and trading around $80.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently fetching 4.114%.

Technically, April gold futures bulls have the solid overall near-term technical advantage. A three-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at December high of $2,171.50, basis April futures. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at this week’s low of $2,088.10. First resistance is seen at today’s high of $2,157.50 and then at $2,171.50. First support is seen at today’s low of $2,131.90 and then at Tuesday’s low of $2,118.50. Wyckoff’s Market Rating: 8.5.

May silver futures prices were poised to close at a two-month high close today. The silver bulls have the overall near-term technical advantage. Silver bulls’ next upside price objective is closing prices above solid technical resistance at $26.00. The next downside price objective for the bears is closing prices below solid support at last week’s low of $22.47. First resistance is seen at this week’s high of $24.455 and then at $25.00. Next support is seen at $24.00 and then at today’s low of $23.785. Wyckoff’s Market Rating: 6.5.

May N.Y. copper closed up 460 points at 389.30 cents today. Prices closed near the session high and scored a bullish outside day up today. The copper bulls have the overall near-term technical advantage. Copper bulls’ next upside price objective is pushing and closing prices above solid technical resistance at the December high of 388.80 cents. The next downside price objective for the bears is closing prices below solid technical support at the February low of 367.95 cents. First resistance is seen at 391.70 cents and then at the January high of 396.75 cents. First support is seen at today’s low of 383.70 cents and then at last week’s low of 381.80 cents. Wyckoff’s Market Rating: 6.0.

Hey!! Try out my “Markets Front Burner” weekly email report. Front Burner is my best writing and analysis, I think, because I get to look ahead at the marketplace and do some market price forecasting. Plus, I’ll throw in an educational feature to move you up the ladder of trading/investing success. And it’s free! Email me at jim@jimwyckoff.com and I’ll add your email address to the Front Burner list.

NEWPORT BEACH, Calif., March 06, 2024–(BUSINESS WIRE)–Paramount Defenses, the world’s #1 cyber security company in privileged access, identity and Active Directory security, founded by an ex-Microsoft cyber security expert, today announced the availability of Gold Finger version 8.0 for Microsoft Active Directory.

From America to Israel, from the European Union to Saudi Arabia and from India to Australia, Active Directory is the foundation of cyber security at thousands of business and government organizations worldwide today.

For over a decade, Active Directory has been successfully enabling organizations to autonomously operate the lifeline of their business, their mission-critical IT infrastructures, and retain their privacy.

Unfortunately, over the last few years, ostensibly in the name of security and modernization, certain Cloud-computing companies seem to have been deftly persuading organizations worldwide to transition their primary identities over to their Cloud, and organizations that do so may not realize that in doing so they are relinquishing operational autonomy and organizational privacy, and taking on an eternal dependency on these Cloud providers, essentially weakening their corporate and national security.

“In today’s world, operational autonomy, security and privacy are absolutely imperative. The day an organization transitions its primary identities to a third-party, such as a provider in the Cloud, is the day it will have relinquished its operational autonomy and privacy, forever. Organizations whose primary identities reside in autonomously operated (e.g. Active Directory based) IT infrastructures need not relinquish their operational autonomy or surrender their privacy to techno-feudalism,” said Sanjay Tandon, CEO of Paramount Defenses.

For over a decade, Active Directory has been the hallmark of autonomous operation, and the focal point of secure and efficient IT, identity and access management. The biggest challenge in organizational cyber security worldwide has been that attaining and maintaining least privileged access (LPA) in Active Directory, which are imperative for organizational cyber security and Zero Trust, has been difficult.

Story continues

Attaining and maintaining least privileged access requires the fundamental ability to accurately assess and lockdown access in Active Directory, and Gold Finger’s unique, patented, fully-automated Microsoft-endorsed access assessment capabilities let organizations easily, instantly and accurately assess and lockdown all access, including privileged access, the “Keys to the Kingdom,” in Active Directory, thereby addressing the biggest challenge in organizational cyber security.

“Our mission at Paramount Defenses remains to help all organizations worldwide easily, securely and autonomously operate Active Directory powered IT infrastructures, so they can retain their operational autonomy, privacy and dignity,” added Mr. Tandon, formerly Program Manager for Active Directory Security at Microsoft.

Gold Finger automates the highly sophisticated process of accurately analyzing millions of security permissions in Active Directory, and determining exactly who can do what, where and how in Active Directory, in terms of administrative tasks, at a button’s touch, accomplishing in minutes, what takes months.

The combination of Microsoft Active Directory and Microsoft-endorsed Gold Finger enables organizations worldwide to securely and autonomously operate their Active Directory powered IT infrastructures, thereby retaining control over their primary identities, and preventing techno-feudalism.

Gold Finger Version 8.0 also delivers support for Windows 11, and is now available.

For more information, please visit – www.paramountdefenses.com

ABOUT PARAMOUNT DEFENSES

Paramount Defenses is a privately-held innovative American cyber security company engaged in the development of paramount, mission-critical cyber security defenses for organizations worldwide.

Established in 2006 by former Program Manager for Active Directory Security, the company’s unique, innovative, patented accurate access assessment technology helps secure organizations worldwide.

It is the world’s #1 company in the paramount access assessment space in the field of cyber security.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240306221601/en/

Contacts

949-468-5770

Gold shines in any investor’s portfolio – whether as a commodity, asset or stock – and has long been considered a safe haven asset during times of market uncertainty. Click here to access the full Thematic Investor Insights Report.

In this edition of Thematic Investor Insights – formerly known as Thematica – Jeff Nielson, business writer and analyst, provides an outlook into the gold market and why investors might consider adding it to their portfolio, including:

1. Gold as a commodity
2. Gold as a monetary asset
3. Gold as an investment

In tandem with the breakdown of the current landscape of the gold market and the many ways to invest, Jocelyn Aspa, markets reporter with The Market Online, breaks down six companies with massive upside potential that might pique the interest of investors.

To read the full report, click here.

Accurate at the point of publication.

The price of gold today, as of 9:08am, was £1,670.59 per ounce. That’s down 0.26% on yesterday’s closing price of £1,675.02.

Compared to last week, the price of gold is up 4.33%, and it’s up 3.47% from one month ago.

The 52-week gold price high is £1,645.79, while the 52-week gold price low is £1,581.70

Gold Prices Today

Gold Price Over Time

How to invest in gold

Many investors consider gold to be the ultimate safe-haven asset, relying on the theory that when the prices of shares, bonds and property drop sharply, gold may hold its value – and its price can even increase as nervous investors rush in to buy.

Investing in gold is also a way to add diversification to your investment portfolio. When you hold a diversified mix of different assets, including gold, varying returns can protect the value of your investments.

There are several ways to invest in gold. Each has pros and cons…

One option is to buy gold in physical form:

• Gold bars. Known as bullion, gold bars tend to be a popular choice for buying gold. Bullion is typically sold by gram or ounce. Purity, manufacturer and weight should be stamped on the face of the bar.
• Gold coins. The Sovereign and Britannia are popular collectables that command a premium over what you would get for the same amount of gold in the form of bullion.
• Gold jewellery. Like gold coins, you’ll probably be paying extra for gold when you buy it in the form of jewellery – a premium that could be anywhere from 20% to 300%, depending on the manufacturer.

Alternatively, investors can invest in gold indirectly:

• Gold shares. Buying the stocks of gold mining or processing companies is another way to invest in the yellow metal. You don’t get to own physical gold, but you do get exposure to the rise and fall of the price of gold in the market.
• Gold funds. There are a range of funds that provide exposure to gold. They may invest in gold stocks, or they may trade gold derivatives in the options and futures markets.

Should you invest in gold?

You should consider investing in gold if you’re looking to hedge against risk or diversify your portfolio. Gold would probably not be your first choice to earn long-term capital growth.

Over the past five years, the price of gold has appreciated approximately 36% while the total return of the S&P 500 has been 60%.

Gold prices can be extremely volatile, and that means that gold isn’t an entirely stable investment. In fact, you can easily craft a well-diversified investment portfolio entirely without gold.

It should also be noted that gold in its physical form, unlike other investments, does not produce an income or yield.

If you buy physical gold, you also need to consider where you are going to keep it, and whether there will be costs associated with secure storage.

Is gold an inflation hedge?

Studies have found that gold may be an effective way to defend your wealth against inflation, but only over extremely long periods of time, measured in decades or even centuries.

Over shorter time periods, the inflation-adjusted price of gold fluctuates dramatically, typically making it a poor near-term hedge for inflation.

Chennai: Customs officials at the Chennai International Airport have uncovered a novel smuggling method during a routine inspection of a flight arriving from Abu Dhabi.

Approximately 4.5 kg of gold bars, valued at Rs 2.51 cr, were ingeniously hidden in the aircraft lavatory, accessible only through a number lock pattern.

The discovery came to light when flight attendants, during routine cleaning of the aircraft after its arrival, noticed that the cable box containing electrical wires in the lavatory was slightly open. Upon closer inspection, a parcel wrapped in black tape was found concealed inside the cable box area.

Chennai airport manager and security officials were immediately notified, leading to the involvement of Chennai Airport Customs officials. Upon further examination, the parcel was found to contain smuggled gold bars weighing 4.5 kg, valued at nearly 3 crore in the international market.

The flight in question was scheduled to arrive as an international flight from Abu Dhabi and then depart from Chennai to Hyderabad as a domestic flight. This aspect raises questions about the smuggling operation’s intricacies and whether it involved collusion with airport staff or other individuals within the smuggling network.

A case has been registered, and investigations are currently underway from multiple angles. Customs officials are scrutinizing CCTV footage from the flight as well as the passenger disembarkation area at Chennai International Airport to ascertain further details and potential suspects.

© IE Online Media Services Pvt Ltd

Gold price up by Rs 500 per tola today

first published: March 06, 2024, 09:37 IST

News18 Join our Whatsapp channel

The price of gold in Mumbai is 5,946 per gram for 22 karat gold and 6486 per gram for 24 karat gold.

Gold Rate Today: Fluctuation is being seen in the prices of gold and silver in the global market today. The effect of which is clearly visible in the domestic market. The gold price in India today is Rs 5946 per gram for 22 karat gold and Rs 6,486 per gram for 24 karat gold.

Advertising

Advertising

Check Gold Price In Your City Today

Gold Price Today In Mumbai

The price of gold in Mumbai is 5,946 per gram for 22 karat gold and 6486 per gram for 24 karat gold.

Gold Price Today In Kolkata

The gold price today in Kolkata is 5946 per gram for 22 karat gold and 6,486 per gram for 24 karat gold.

Gold Price Today In Chennai

The Gold price today in Chennai is 6016 per gram for 22 karat gold and 6563 per gram for 24 karat gold.

Gold Price Today In Delhi

The gold price today in Delhi is 5961 per gram for 22 karat gold and 6501 per gram for 24 karat gold.

Gold Price Today In Thane

The gold price today in Thane is 5,946 per gram for 22 karat gold and 6486 per gram for 24 karat gold.

Gold Price Today In Surat

The gold price today in Surat is 5951 per gram for 22 karat gold and 6491 per gram for 24 karat gold.

Gold Price Today In Pune

The gold price today in Pune is 5946 per gram for 22 karat gold and 6486 per gram for 24 karat gold.

Gold Price Today In Nagpur

The gold price today in Nagpur is 5946 per gram for 22 karat gold and 6486 per gram for 24 karat gold.