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
Goldman Sachs is tipping a continued rise in Newmont’s share price with a target for its New York listed shares set at $47.20, up 17% on last sales at $40.23 while the company’s Australian listed shares are forecast to rise from A$64.80 to A$76.20.
Strong central bank demand is expected to continue lifting the gold price towards $3000 an ounce from its current $2670/oz, according to Goldman Sachs
“We expect our Australian gold coverage is set for a growing cash harvest over the next 12-months as price increases outweigh cost escalations, supporting further balance sheet strength, growing capital returns and prospective merger and acquisition activity,” Goldman Sachs said.
Source – Forbes
Harvesting (in finance), also known as an exit or liquidity event, is the act of cashing out of an ownership position in a company.
The South African rand strengthened on Tuesday, helped by the gold price extending its historic run to a new all-time peak.
At 0814 GMT, the rand traded at 18.0175 against the dollar , about 0.4% stronger than its previous close.
“At some point a gold price that continues to rise will excite local miners to make a greater effort to mine difficult-to-reach gold deposits. What may not have looked viable several years ago must be looking interesting now,” said ETM Analytics in a research note.
Source – Reuters
South African rand – is the official currency of South Africa. 1 South African Rand is $0.055 USD.
Gold (XAU/USD) falls toward $3,270 as weak Chinese demand and mixed U.S.-China trade signals weigh on sentiment.
Silver (XAG/USD) slips to $32.96 amid softer Chinese demand and cautious market mood fueled by trade uncertainty.
Gold defends the $3,270 triple-bottom zone, while silver stabilizes near $32.96.
Source – FX Empire
“Gold continues its bull market that we’ve been talking about really now for a couple of years ever since gold was down to $1,800,” DoubleLine Chief Executive and Chief Investment Officer Jeffrey Gundlach told investors on a call he hosted that was held this week, but before gold futures reached the $3,000 per ounce milestone for the first time.
“I’d be so bold to say I think gold will make it to $4,000. I’m not sure that’ll happen this year, but I feel like that’s the measured move anticipated by the long consolidation at around $1,800 on gold,” he said.
Source – Market Watch
Jeffrey Edward Gundlach – is an American businessman, investor, and philanthropist. He is the founder of DoubleLine Capital an investment firm.
DoubleLine Capital – American investment management firm. Headquarters in Tampa, Florida.
Citi anticipates an eventual implementation of a 25% copper-specific tariff by the fourth quarter of 2025, following U.S. President Donald Trump’s executive order initiating an investigation into U.S. copper imports, the bank said in a note on Wednesday.
Source – Reuters
Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite.
Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session.
“There is less of a ‘doom and gloom’ outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets,” KCM Trade Chief Market Analyst Tim Waterer said.
“The dollar remains pressured which is limiting the extent of the slide for gold. However, the $3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the $3,200 level,” Waterer said.
Spot silver was down 0.1% at $36.02 per ounce, platinum firmed 1% to $1,353.13, while palladium was up 0.2% at $1,135.48
Source – Reuters
