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
“GIANT MARKET CRASH here. Q: How can I be so bullish on gold, silver, and Bitcoin? A: Because the idiots running the Fed, Treasury, Banks, and Wall Street only know how to print money, which makes things worse. FYI: When fake money is printed the rich, who own real assets get richer…. while the poor and middle class, who save fake money, get poorer due to inflation and taxes. Let inflation make you richer, not poorer. Save gold, silver, and Bitcoin. Take care. Crash is here,” Kiyosaki wrote
Source – Benzinga
Robert Kiyosaki is an American businessman and author of ‘Rich Dad, Poor Dad’ and other personal finance books.
The U.S. will soon be flooded with massive amounts of copper shipments in a global rush to front-run President Trump’s probable tariffs, with 100K-150K metric tons of refined copper expected to arrive in U.S. ports in the coming weeks, which potentially would surpass the all-time record of 136,951 tons set in January 2022, Bloomberg reported Wednesday.
Goldman Sachs analysts said they expect all forms of copper shipped to the U.S. to be hit with tariffs by year-end, keeping Comex prices at a hefty premium over other benchmarks, and noted that tariffs could cause China to refine 10K-20K tons/month less copper within the first three months – in a global market that Goldman already expected to face a 180K-ton deficit this year.
Source – Seeking Alpha
Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) based in Halifax, Nova Scotia, focused on Developing Production at the El Tigre Silver Mining District in Sonora Mexico, today announced that Glenn Jessome President & CEO, will present live at the Metals and Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on February 13th, 2025
DATE: February 13th
TIME: 1:00pm EST
www.virtualinvestorconferences.com
Source – Markets Insider
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
This year has been an up and down ride for silver after 2023 but seems to have taken a turn in the last quarter of the year.
“Silver fell to a quarterly low of US$30.11 on November 27, but since then the precious metal has regained some ground. As of December 11, it was trading at US$31.88.
The next Fed meeting is set to run from December 17 to 18. Most analysts expect the central bank to make one last 25 basis point cut before pausing in 2025.”
Source – Investing News Network
Analysts led by Lina Thomas moved their gold forecast for the end of 2025 to $3,300 an ounce, from $3,100.
Gold futures rose 1.3% to $3,060.70 an ounce, buoyed by uncertainty over new auto tariffs announced by the White House on Wednesday.
On Tuesday, Bank of America lifted its gold-price forecast to $3,500 from $3,000. As with Goldman, their analysts cited central bank and ETF demand, but also pointed out that China’s insurance industry is getting a regulatory push to buy more.
Source – Market Watch
