Platinum Prices Jan 9,2025
Source – Money Metals
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Gold prices on the rise to record highs
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
Franco – Nevada acquire 7.5% gross on gold mine
Franco-Nevada said Tuesday it agreed to acquire a royalty package consisting of a 7.5% gross margin royalty on the Côté gold mine in Ontario from a unnamed third party for $1.05B in cash.
The company said the royalty package applies to mineral production from the Chester 1, 2 and 3 claims, which cover all of the mineral reserves and over 99.9% of current mineral resources on the Côté mine.
Source – Seeking Alpha
Franco-Nevada Corporation is a Canada based, gold-focused royalty, and streaming company with the most diversified portfolio of cashflow producing assests
Barrick Gold more than doubles its cash flow
On Wednesday, ahead of the North American equity market open, Barrick Gold (NYSE: GOLD, TSX: ABX) reported a 69% increase in net earnings to $2.14 billion and a 51% rise in adjusted net earnings to $2.21 billion, significantly beating analyst expectations. The company also noted that its annual operating cash flow in 2024 increased by 20% to $4.49 billion, while free cash flow more than doubled to $1.32 billion.
Source – KITCO News
Investors looking at Codelco Copper company
“Codelco remains a good option to grab some extra spread over sovereign bonds.”
Copper futures are up about 15% this year in New York, although part of that is due to an up-tick in buying ahead of possible tariffs.
“Good governance and high copper prices should be good for bonds. Codelco is interesting.”
Source – Bloomberg
Robert Kiyosaki says silver will reach $70
Robert Kiyosaki urges investors to ditch “fake money” and start saving silver, gold, and Bitcoin — calling silver the top asset for the next two months and predicting it could hit $200.
“Silver for the next two months is the best of the three, gold, silver, and Bitcoin,” he said. “Today silver is about $35 an ounce. I believe silver may soon be $70 an ounce this year and $200 in a year or two.”
“The best news is, almost everyone in the world can afford at least 1 silver coin today….but not tomorrow,”
Source – The Street
Robert Kiyosaki – is an American Businessman and author most notably for his “Rich Dad Poor Dad” series of personal finance books.
Gold set for eighth weekly gain
Spot gold shed 0.4% to $2,927.95 an ounce by 1204 GMT. Bullion has gained around 1.6% this week after rising to a record $2,954.69 on Thursday.
“The non-stop rally since December remains unchallenged unless prices drop to around $2,850,” said Ole Hansen, head of commodity strategy at Saxo Bank.
“Gold has been displaying resilience with short-lived retracements, as lingering U.S. trade uncertainties reinforce its appeal as a hedge,” IG market strategist Yeap Jun Rong said.
Spot silver was flat at $32.92 an ounce, and palladium dipped 0.3% to $974.75. Both metals were headed for weekly gains.
Platinum shed 0.2% to $976.80 and eyed a weekly decline.
Source – Reuters