Shares of Barrick Gold Corp rose 2.76% to C$24.55 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index rising 1.15% to 25,569.84.
Source – Market Watch
“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
A Chilean startup backed by BHP Group has delivered its first copper cathodes from a demonstration plant at a mine site in northern Chile as the industry looks to squeeze out more metal from lower quality ore.
Ceibo and firms such as Jetti Resources LLC and Rio Tinto Group’s Nuton venture are looking to roll out catalysts for liberating copper from low-grade ore that miners previously saw as too expensive and difficult to process.
Source – Mining.com
Copper cathode – is high quality copper that is produced through the process of electrolysis.
Electrolysis – is an electric current that passes through a substance to have a chemical change.
Source – Money Metals
As the threat of a trade war grows, Canadian investors are seeking protection in gold and in shares of companies producing goods with few substitutes, such as uranium, while looking to take advantage of a weaker loonie and expected volatility.
“Tariffs are going to hurt all parties quite a bit but if you’re going to spare some industries, you probably spare industries that you don’t have a substitute for and are currently reliant on,” said Ben Jang, a portfolio manager at Nicola Wealth, noting U.S. dependence on Canadian oil, critical minerals and uranium.
Major producers of uranium include TSX-listed Cameco Corp (CCO.TO)shares of which Nicola Wealth owns. Cameco has pulled back from an all-time high in December but has still managed to advance roughly 46% since early September.
Source – Reuters
Gold prices fell sharply by Rs 1,000 to Rs 98,400 per 10 grams in the national capital on Monday, amid a weak global trend and optimism surrounding a possible US-China trade agreement, according to media reports citing the All India Sarafa Association.
“Gold prices continued to decline as easing US-China trade tensions boosted investors’ risk appetite, reducing demand for safe-haven assets like bullion while a stronger dollar added downward pressure,” said Chintan Mehta, Chief Executive Officer of Abans Financial Services, as quoted in media reports.
“Rising geopolitical tensions could limit gold’s downside. As war risks escalate and new conflicts emerge, investors are likely to seek refuge in gold.”
Source – Kashmir Life
A California man was sentenced to 6½ years in prison Tuesday for his role in ongoing “government impostor” gold-bar scams that are costing Americans millions every year.
“This is a national epidemic,” prosecutor Hannah Gleason said in a courtroom in Montgomery County, Maryland, which has been hit hard by the complex frauds. “These are highly organized criminal organizations.”
The case at hand cost a 64-year-old woman, living in Montgomery’s Leisure World community, $789,000. She had counted on the savings to fund the medical needs of herself and other family members and now fears she may lose her home, Gleason said.
“She worries about her financial security and financial health,” Gleason said. “This has caused great emotional distress and impact to her, and has led her to believe she can’t trust people.”
Source – The Washington Post
Please be careful out there everyone. People are getting scammed everyday and our older community are the targets…usually. It’s really unfortunate for this lady who knows how many others have had this happen to them too. Be safe! – V.
