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Discover Silver aims to grow production

ByVictoria

Discovery Silver is making a significant move into the gold sector with its acquisition of the Porcupine mine in Ontario, Canada, from Newmont. The deal, discussed by CEO Tony Makuch in an interview at the 2025 BMO Global Metals Mining and Critical Minerals Conference, marks a shift for the company, which has been primarily known as a silver developer in Mexico.

“The other part of value creation here is you take assets that are not Tier 1 assets at this point in time, and you convert them to Tier 1 assets,” he explained.

Source – KITCO News

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    Silver expected to rise in demand

    ByVictoria
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    The precious metal has gained nearly 12% in the year-to-date and is set to benefit from continued macroeconomic and geopolitical uncertainty, alongside potential U.S. interest rate cuts, according to the industry body’s World Silver Survey 2025.

    “While ongoing uncertainties elsewhere, along with silver’s healthy supply-demand conditions, will offer support, we do see prices easing back in late 2025.”

    Supply is expected to rise by just 2% and demand to ease by only 1%, setting the stage for a 117.6 million ounce deficit.

    “We very much expect such a dynamic will emerge eventually, but we feel that a few more years of deficits are needed first to further erode above-ground silver inventories.”

    Source – Market Watch

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    Gold fell 3%, Silver .9%

    ByVictoria
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    Safe-haven gold fell 3% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs.

    Spot gold was down 3% at $3,225.28 an ounce, as of 1344 ET (17:44 GMT). Bullion, considered a hedge against economic and geopolitical turmoil, hit a record high of $3,500.05 last month amid increased tariff uncertainty.

    “June gold futures bulls have lost their overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,350. First resistance is seen at $3,250 and then at $3,275,” said Jim Wyckoff, senior analyst at Kitco Metals.

    Spot silver slid 0.9% to $32.4 an ounce, platinum fell 1.9% to $976.06 and palladium dipped 3.4% to $942.69.

    Source – Reuters

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    Gold holds with little change

    ByVictoria
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    Spot gold fell 0.1% to $3,030.13 an ounce, as of 09:35 a.m. ET

    “There are concerns that tariffs could spark inflation, and there’s a consensus that despite rising prices from U.S. tariffs, the Federal Reserve might start easing policy around mid-year,” said Bart Melek, head of commodity strategies at TD Securities.

    “I expect gold to trade roughly where it is now, give or take about $25,” Melek said.

    Spot silver dropped 1.2% to $33.61 an ounce, platinum lost 1.6% to $980.90 and palladium fell 0.8% to $959.20

    Source – Reuters

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    Codelco targets 1.391 million tons of copper output

    ByVictoria
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    Chilean state miner Codelco, the world’s largest copper producer, is targeting production of 1.391 million metric tons of the red metal this year, according to an unpublished government decree approving its 2025 budget reviewed by Reuters.

    In calculating its budget, Codelco forecast a copper price of $4.30 per pound and expects a cash cost of $1.98 per pound, the document showed.

    Source – Reuters

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    Gold prices on the rise to record highs

    ByVictoria
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    At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741

    The US Dollar Index (DXY), which measures the performance of the Greenback against a basket of six peers and usually correlates inversely to Gold, rises 0.08%, up at 108.16.

    Gold prices are set to challenge record high of $2,790 amid ongoing US trade policies uncertainty. 

    Source – FXSTREET

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    Zambia allows geologists to explore copper deposits

    ByVictoria
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    India has dispatched a team of geologists to Zambia to explore copper and cobalt deposits, two Indian government sources said, as New Delhi steps up efforts to secure critical mineral supplies essential to its energy transition.

    The Zambian government this year agreed to allocate 9,000 square km (3,475 square miles) to India for the exploration of cobalt – a key component in batteries for electric vehicles and mobile phones – as well as for scouting copper, which is widely used in power generation, electronics, and construction.

    The exploration project will last for three years and most of the analysis will be done in laboratories in India, one of the sources said.

    Source – Reuters