Gold prices made steady progress last year and have continued that with a very strong start to this year, said George Milling-Stanley, chief gold strategist at State Street Global Advisors. That has led to April gold’s settlement at $3,001.10 an ounce on Comex Friday, the highest most-active contract finish on record.
Source – Market Watch
Glencore’s steelmaking coal production in the first half soared following the integration of Elk Valley Resources, but copper and gold output fell.
Elk’s contribution pushed first-half production expressed in copper equivalents up 5%. This is despite copper production falling 26% to 343,900 tons and gold output dropping 18% to 301,000 ounces.
The FTSE 100-listed company said it was confident that it can deliver its full-year production guidance but tightened the ranges of some of its commodities to reflect its performance to date.
Source – The Wall Street Journal
“Given the current scenario, central banks are likely to continue diversifying their reserves with gold for financial and strategic reasons,” ICICI Securities stated in its report.
Pankaj Pandey, Head of Research at ICICI Securities, noted, “We anticipate fresh investment demand for gold in 2025 as investors seek a store of value amidst trade war anxieties.”
Silver is poised to outperform gold in 2025, supported by strong industrial demand from green energy applications, including photovoltaics and electric vehicle (EV) electrification, said ICICI.
Source – Live Mint
The South African rand strengthened on Tuesday, helped by the gold price extending its historic run to a new all-time peak.
At 0814 GMT, the rand traded at 18.0175 against the dollar , about 0.4% stronger than its previous close.
“At some point a gold price that continues to rise will excite local miners to make a greater effort to mine difficult-to-reach gold deposits. What may not have looked viable several years ago must be looking interesting now,” said ETM Analytics in a research note.
Source – Reuters
South African rand – is the official currency of South Africa. 1 South African Rand is $0.055 USD.
“Year-to-date, gold has been running ahead of our expectations,” Marcus Garvey, head of commodities strategy at Macquarie, wrote on Thursday.
“We are raising our gold price forecast to a 3Q25 quarter average peak of $3,150 per ounce and our single point price high to $3,500 per ounce,” Garvey wrote.
“President Trump’s rapid move to announce, if not always to enact, import tariffs has contributed to geopolitical uncertainty and boosted inflation expectations, helping push down front-end real rates and supporting gold in the face of periodic USD strength and initially reduced expectations for Fed rate cuts,” the strategist wrote.
Source – Yahoo Finance
Macquarie Group Limited – is an Australian multinational independant investment bank and financial services company. Headquarters in Sydney, Australia. Listed as ASX
Gold prices firmed on Wednesday as weaker-than-expected jobs data fueled hopes of the U.S. Federal Reserve cutting rates sooner than anticipated, while investors also awaited the upcoming non-farm payrolls report for further cues on monetary policy
Spot gold was up 0.3% at $3,348.60 per ounce, as of 0151 p.m. EDT (1751 GMT). U.S. gold futures settled 0.3% higher at $3,359.7.
Spot silver rose 1.2% to $36.49 per ounce, platinum was up 4.6% at $1,413.40, while palladium gained nearly 5.2% to $1,157.09.
Source – Reuters
While the Theodore Roosevelt Presidential silver medal to be issued sometime this summer by the United States Mint will bear the same obverse and reverse designs as used for a silver medal included in the 2013 Theodore Roosevelt Coin & Chronicles Set, the new issue will have distinct differences.
The obverse design is the same executed by Chief Engraver Charles E. Barber for the Mint’s 1905 Presidential medal from his second term, with the reverse design by Assistant Mint Engraver George T. Morgan.
Source – Coin World