ANZ raised its zero to 3-month gold price forecast to $3,100 per ounce and 6-month forecast to $3,200 per ounce, according to a research note on Tuesday.
For gold “we maintain our bullish view, amid strong tailwinds from escalating geopolitical and trade tensions, easing monetary policy, and strong central bank buying,” the bank said.
Source – Reuters
A limited-edition, privy-marked Proof 2025-W American Eagle silver dollar prepared for release June 13 from the United States Mint celebrates the 250th anniversary of establishment of the Continental Army during the American Revolutionary War, on June 14, 1775.
As of May 24, the Mint had not yet established pricing for the privy-marked American Eagle. The product is limited to an issue of 100,000 coins. Each household order is restricted to three coins during the first 24 hours of sales, after which the limit will be lifted.
The commemorative privy-mark — containing elements of the U.S. Army’s official seal — is positioned in the field behind Liberty, to the left of the Y in the inscription LIBERTY.
Source – Coin World
Vicuña Corp, a joint venture of Australia’s BHP and Canada’s Lundin Mining (LUN.TO), opens new tab, on Thursday said it was extending the useful life of its Josemaria copper, gold and silver project in Argentina by six years.
It attributed the longer useful life of the mine, now 25 years instead of 19 years previously, to higher levels of exploitable resources.
Vicuña also predicted an ore processing rate at the site, located in Argentina’s north-western San Juan province, near the Chilean border, at 175,000 metric tons per day.
Source – Reuters
Citi expects the price of gold to consolidate around $3,100 to $3,500 per ounce in the third quarter, as prices moderate due to geopolitical de-escalation in the Middle East and an improved global growth outlook, the bank said in a note on Monday.
“We expect continued price consolidation … and highlight our view that we may have already seen the highs at $3,500/oz in late April as the gold market deficit is peaking soon if not already,” Citi said in the note.
Source – Reuters
The second-largest consumer of gold in the country is India, after China. The country meets majority of its demand for gold through imports, along with locally recycled bullion.
Source – ABP News
All cities with gold rates listed in the link
“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
Spot gold steadied at $2,795.52 per ounce by 11:18 GMT, after hitting a record peak of $2,800.99 earlier in the session. Prices rose more than 6% for the month and 1% for the week.
“The rally could hold for as long as there is uncertainty in the market. A lot of today’s uncertainty stems from not knowing whether and how tariffs will be applied,” said WisdomTree commodities strategist Nitesh Shah.
“We see central bank buying as the strongest structural force in the gold market, underpinning our long-term constructive view,” said Carsten Menke, analyst at Julius Baer.
Source – Reuters
