Barrick Gold (NYSE:GOLD) said Monday it plans to change its name to Barrick Mining, subject to shareholder approval at its upcoming annual meeting on May 6.
The company expects to change its NYSE ticker symbol from GOLD to B, effective at the start of trading on May 9; Barrick (NYSE:GOLD) common shares will continue to trade under the ABX symbol on the Toronto Stock Exchange.
Source – Seeking Alpha
Bullion-backed exchange traded funds (ETFs) reported returning net inflows last month, meaning half-year flows reached levels not seen for five years, data from the World Gold Council (WGC) showed.
Total holdings rose by 75 tonnes last month, the WGC said, to 3,616 tonnes. This was the highest for 34 months.
Inflows were valued at $7.6 billion, which in turn drove cumulative assets under management (AUMs) to $382.8 billion an all-time peak.
The WGC said that “North America accounted for the bulk of inflows, recording the strongest first half in five years.” It added that “despite slowing momentum in May and June, Asian investors bought a record amount of gold ETFs during the first half, contributing an impressive 28% to net global flows with only 9% of the world’s total AUMs.”
Source – Forbes
The white metal now seems poised to advance further towards last Friday’s swing high, around the $33.35-$33.40 zone before aiming to reclaim the $34.00 round-figure mark.
Source – FXStreet
Sales by the United States Mint of the Proof 2025-W American Eagle silver dollar, priced at $95 each, are scheduled to begin at noon Eastern Time Jan. 9.
Source – Coin World / written by Paul Gilkes
“I am pleased to announce Q4-2024 and January 2025 production results, achieving 2024 production guidance and highlighting a significant step-change in output and an 77% month-over-month increase from December 2024 to January 2025. This strong performance is driven by improving recoveries and the successful ramp-up of the new Zgounder plant, which is operating above nameplate capacity, alongside the open pit, which continues to exceed expectations,” stated President & CEO Benoit La Salle. “Month-over-month improvements across the integrated operations at Zgounder reflect disciplined execution and operational strength, positioning us for sustained production growth and record profitability in 2025.”
Source – Globe Newswire / Yahoo Finance
“During the last three days, gold is up over 8% and on pace for its largest three-day move since March 2020,” Bespoke Investment Group said in a note Friday morning. “Before that, you would have to go back to the financial crisis to find the last time it rallied as much in three days.”
“Gold may be catching a bid, but the dollar has floundered,” said Bespoke. “If you were looking for bonds to provide some ballast in your portfolio this week, you didn’t get it with Treasuries.”
Source – Market Watch
Goldman Sachs raised its end-2025 gold price forecast to $3,700 per ounce from $3,300, with a projected range of $3,650-$3,950, citing stronger-than-expected demand from central banks and higher exchange-traded fund inflows due to recession risks.
“If a recession occurs, ETF inflows could accelerate further and lift gold prices to $3,880 per troy ounce (toz) by year-end,” the bank said
Source – Reuters