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$13 billion in Idaho gold. A mineral critical to U.S. defense.

ByVictoria

“We’ve interdeveloped or interwoven cleanup of these legacy impacts with modern, responsible mining activity,” Mckinsey Lyon, spokesperson for Perpetua Resources, told the Idaho Statesman. “And we’ve done that because we’re so serious about our commitment that we can leave this place better.”

“Perpetua has a really glamorous vision for what the site is going to look like afterwards, and I hope that’s successful,” John Robison, public lands and wildlife director with the Idaho Conservation League, told the Statesman. “I don’t see that from the mine plan.”

“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Perpetua’s president and CEO, said in a statement. “The Stibnite Gold Project can deliver decisive wins for our communities, the environment, the economy, and (U.S.) national security.”

Source – Idaho Statesman

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    Gold gained .4%, market “choppy”

    ByVictoria
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    Spot gold gained 0.4% to $3,312.05 an ounce by 08:56 a.m. EDT (1255 GMT), after hitting a session low of $3,285.19 on Tuesday.

    U.S. gold futures rose 0.3% to $3,310.60.

    “The gold market has been kind of choppy recently, just reacting to fresh daily fundamental news events with no real trending price action. In the near term, market top is in place,” Jim Wyckoff, senior analyst at Kitco Metals, said.

    Goldman Sachs recommended on Wednesday a higher-than-usual allocation to gold in long-term portfolios, citing elevated risks to U.S. institutional credibility, pressure on the Fed, and sustained central bank demand.

    Spot silver fell 0.3% to $33.20 an ounce, platinum firmed 0.8% to $1,088.65 and palladium eased 0.6% at $972.36.

    Source – Reuters

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    Gold, Silver, Platinum Forecasts

    ByVictoria
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    Gold

    Gold tests resistance at $2930 – $2940 as traders bet that demand from central banks will stay strong in the upcoming months.

    Silver

    Silver gains ground as traders react to the strong performance of gold markets. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.

    Platinum

    Platinum is stuck near the $1000 level as traders wait for additional catalysts.

    Source – FXEMPIRE

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    Copper mine collapse, 1 killed 5 trapped

    ByVictoria
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    A collapse at a copper mine in Chile killed one worker and left five trapped underground, authorities said on Friday, forcing Chile’s state mining company to suspend operations in the affected area of the world’s largest underground copper deposit.

    Nine other mine workers suffered injuries, said Chile’s National Copper Corporation, known as Codelco, describing the incident as the result of “a seismic event.”

    The U.S. Geological Survey reported a magnitude 5 earthquake in an area of central Chile where Codelco’s El Teniente mine is located, at 5:34 p.m. local time on Thursday. Authorities said they’re still investigating whether it was a naturally occurring earthquake or whether mining activity at El Teniente caused the quake.

    “We are making every effort to try to rescue these five miners,” said Andrés Music, general manager of El Teniente. “The next 48 hours are crucial.”

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    Praying for these people to be rescued. -Victoria

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    Goldman Sachs forecasts up to 12 month copper prices

    ByVictoria
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    Goldman Sachs on Wednesday maintained its London Metal Exchange copper price forecasts for the next year, and said it expected the implementation of U.S. tariffs on copper imports to prevent a U.S. stock glut in the third quarter.

    Goldman forecasts three-, six-, and twelve-month LME copper prices at $9,600, $10,000 and $10,700 per metric ton respectively. The bank flagged a near-term downside risk to prices from a trade policy update due to take effect on April 2.

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    “Silver Guru” David Morgan gives his take on current silver market

    ByVictoria
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    In a recent interview with Liberty and Finance, the esteemed precious metals analyst David Morgan, widely known as the “Silver Guru,” delivered a compelling analysis suggesting that silver prices are on the cusp of a significant surge. Drawing upon his extensive knowledge of the precious metals market, Morgan highlighted the current lack of substantial upside resistance for silver, hinting at a potential rapid upward movement that has yet to materialize fully.

    “I mean, we’re high enough in the silver price for it to have very little upside resistance and to be able to just move, move, and move some more, and it hasn’t started yet.”

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    Source – The Jerusalem Post