New Delhi, Jan 29 (PTI) Silver prices on Wednesday marginally rose Rs 6 to Rs 91,057 per kilogram as participants increased their bets.
Globally, silver was trading 0.14 per cent lower at USD 30.37 per ounce in New York.
Source – Press Trust of India
The spread between the cash LME copper contract and benchmark three-month futures spiked to a premium for the first time in 19 months on Friday.
It rocketed to $249 a metric ton, the highest since November 2021, compared to a discount, or contango, of $119 two days ago.
Copper prices on COMEX have surged as investors seek to price in potential tariffs, with the premium of COMEX over LME at $1,050 a ton on Friday, down from a record peak of $1,153 a day earlier.
Source – Mining.com
Bullion edged 0.2% lower to around $2,750 an ounce, roughly just $40 short of its all-time high and still set for a fourth straight weekly gain.
The president has identified China, the EU, Canada and Mexico as potential targets for import levies, though there is uncertainty over whether he will follow through with the threats.
Gold traded at 2,751.44 an ounce as of 10:48 a.m. in London. Silver, platinum and palladium fell. The Bloomberg Dollar Spot Index was relatively unchanged.
Source – Bloomberg
The decision follows a settlement with the Malian Government over its 2023 mining code, which has reduced the risk of disruption.
B2Gold CEO Clive Johnson said: “From a B2Gold perspective, we have seen a reduction in risk since the signing of our settlement agreement.”
“We have expatriate employees that move in and out of the country regularly, including some of the mine management, so there is no reason to think that any detention would ever be contemplated as it relates to B2Gold,” Johnson added.
Source – Global Data / Reuters reported
“Over the last 12 months, the value of their reserves or the value of the gold in their reserves was five times the amount by which their reserves increased,” Thompson stated, emphasizing the significant shift in China’s gold holdings.
Thompson also highlighted the unique dynamics of the silver market. “We’ve seen year after year the volume of silver… being produced by the mines going down,” he explained.
Source – The Jerusalem Post
“The next phase of getting (Zonia) into production is a bankable feasibility study so you can fund it. A bankable feasibility study is going to cost $5 million to $7 million, and we don’t have that right now,” Neal said.
“The plan is to get it there, but we’re going to need partners to help us get it there. So that’s why (we’re doing) the strategic review, and it looks like we’ll have an announcement in the next few weeks on one of these opportunities.”
Source – Investing News Network (full interview video with CEO Gord Neal)
The Amundi Physical Gold ETC is designed to track the performance of gold prices, offering an alternative to direct investment in the precious metal. The securities are backed by allocated gold stored in secure vaults, with each ETC security representing a specific entitlement to gold, which diminishes slightly each day to cover operational expenses at an annual rate of 0.12%.
Investors should note that the ETC securities are not the equivalent of investing in gold directly, as they are financial instruments subject to market fluctuations and other risks inherent to securities trading.
Source – Investing.com
