Barrick Gold Corp. stock rises
Shares of Barrick Gold Corp.
ABX-3.10% rose 2.32% to C$26.47 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index
Source – Market Watch
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JP Morgan analyst on gold
After a strong run for precious metals, gold mining shares still look undervalued.
That’s the view from JP Morgan’s latest note on listed producers, which argues there’s room for substantial upside, especially if its bullish forecast for the precious metal proves right.
Its commodities team is pencilling in a price of $4,100 an ounce for 2026. That’s well above current spot levels of $3,320 and would mark a new all-time high.
Based on that estimate, JP Morgan sees around 40–50 per cent upside to average analyst expectations for earnings before interest, tax, depreciation and amortisation across the sector.
Source – This Is Money
Copper miner Freeport-McMoRan reports better than expected profit
Phoenix-based Freeport also boosted its budget for the year by roughly 5% to $4.4 billion and forecast an increase for next year as well, surprising investors.
On an adjusted basis, the company earned 31 cents per share in the quarter, compared with the analysts’ average estimate of 20 cents per share, according to data compiled by LSEG.
Source – Reuters
Silver price strengthens dollar
Silver price (XAG/USD) hits a fresh weekly high to near $33.20 during North American trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) extends its downside on the United States (US) credit rating erosion in the wake of large debt levels and escalated fiscal imbalances.
Technically, a soft US Dollar makes the Silver price a value bet for investors. Additionally, concerns over US credit erosion improve the safe-haven demand of non-yielding assets, such as Silver.
Source – FX Street
Gold prices rebounded on Tuesday from Mondays selloff
Gold prices are “not even that far away from all-time highs, so the upward momentum is there, we just need some kind of trigger to get it going,” Blue Line Futures chief market strategist Phillip Streible said.
Front-month Comex gold (XAUUSD:CUR) for January delivery settled +1.1% to $2,766.80/oz, gold’s 11th gain in 15 sessions, and front-month January silver (XAGUSD:CUR) closed +1.5% to $30.727/oz.
Source – Seeking Alpha
India gold price rises
The price for Gold increased to INR 94,784.55 per tola from INR 94,440.36 per tola a day earlier.
Source – FXStreet
AngloGold profit surged and boosting payouts
AngloGold Ashanti (AU.N), is boosting payouts to investors, it said on Wednesday, after its profit surged to $954 million last year from a loss of $46 million in the prior year, buoyed by the precious metal’s rally to record highs.
Shares in the company however fell as much as 7.4% in early trading in New York.
CEO Alberto Calderon said the gold price rally had given AngloGold the strongest balance sheet position in more than a decade, and it is “able to pass on those benefits to shareholders in a more generous dividend policy”.
Source – Reuters