Author: Victoria

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Gold and Silver “Technical Scoop”

ByVictoria
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Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments. The result was a 3.0% gain for gold this past week and a close at the magical $3,000.

Other precious metals rose this past week. Silver was up 4.9%, while platinum gained 4.8% and is back over $1,000. Near precious metals saw palladium up 1.9% and copper gaining 4.0% as it marches towards $5.00.

Source – Silver Seek

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ZiJin Mining boosting gold and copper

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The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028

“Our stated goal is to become a green, high-tech, leading global company,”

“By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining

“We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said.

Source – Kitco NEWS

ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.

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President Trump inaugural medals being made

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Medalcraft Mint in Green Bay, Wisconsin, is now marketing 2.75-inch (69.85-millimeter) Proof bronze versions and Proof silver versions of the official Donald J. Trump presidential inaugural medal, along with a six-piece process set that illustrates the progression of the striking process for the bronze medals.

According to Medalcraft sales representative Branden Beyer, the bronze medals are being offered at $75 each, the silver medal at more than $900 depending on the fluctuating daily spot price of silver, and the six-piece process set at $650.

Source – Coin World

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New Dehli gold and silver hit record levels

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Gold and silver prices hit fresh record levels on Monday, rallying Rs 1,300 each, tracking strong trends in the global markets amid uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the Federal Reserve.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity, extending gains for the fourth day in a row, rallying Rs 1,300 to hit a fresh peak of Rs 90,750 per 10 grams.

Source – Press Trust of India

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UBS raised gold target to $3200

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“With the price now reaching our long-held target of $3,000/oz, the main question is whether the rally will continue. We think so, as long as policy risks and an intensifying trade conflict continue to spur safe-haven demand,” UBS said.

Source – Seeking Alpha

UBS Group AG – formerly Union Bank of Switzerland, is a multinational investment bank and financial services company based in Switzerland.

‘No evidence’ man knew gold was stolen, jury told

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Follow up on Stolen Gold Toilet from art exhibit at Blenheim Palace, in Oxfordshire

There is no evidence a man on trial in connection with the theft of a £4.8m golden toilet knew the gold he was dealing with was stolen, a jury has been told.

The prosecution said the 41-year-old’s decision not to give evidence meant he failed to answer a number of questions, including what the gold looked like when it was delivered to his jewellers in Hatton Garden.

“What clear evidence is there that Mr Guccuk did anything wrong or criminal?”

Source – BBC

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Last years gold prices lead to this years strong prices

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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

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Gold breaks $3000, what happened

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“Gold is an asset that is able to preserve value under the biggest variety of macroeconomic dislocations that we have seen,” said Thomas Kertsos, co-portfolio manager at First Eagle Investment Management LLC. “We’ve seen that over centuries gold has been able to — despite the volatility — always mean-revert and always maintain its purchasing power, all while providing significant liquidity.”

“You’ve got huge uncertainty coming out of US policy that’s also just casting its shade over the global economy this year,” said Ian Samson, a multi-asset portfolio manager at Fidelity in Singapore.

The foundations for the gold rally were partly set by global central banks’ wariness of relying heavily on the US dollar, also a reflection of geopolitical uncertainty.

Source – Bloomberg

Rally – is a period of sustained increases in the prices of related indexes. In this case we are talking about gold.

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Futures rise after turbulent week, gold stocks surge

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Paul Williams, managing director of Solomon Global, said about the rise in gold prices that it was a “direct response to escalating trade tensions and the growing economic uncertainty that this brings.”

Source – Reuters

Futures – are contracts to buy or sell a specific underlying asset at a future date. In this case we are talking about gold.