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
“U.S. dollar and Treasury yields are lower, which is helping gold catch a bit of support… The overall uptrend remains intact and the path of least resistance favours the upside,” said Ilya Spivak, head of global macro at Tastylive.
“Prices have been stable in a range between about 2,830 and 2,960 for the past four weeks… We would need to see a convincing break above or below these boundaries to conclude that some sort of lasting directional move is resuming.”
Spot silver added 0.3% to $32.19 an ounce, platinum was steady at $957.89 and palladium lost 0.3% to $940.47.
Source – Reuters
Discovery Silver is making a significant move into the gold sector with its acquisition of the Porcupine mine in Ontario, Canada, from Newmont. The deal, discussed by CEO Tony Makuch in an interview at the 2025 BMO Global Metals Mining and Critical Minerals Conference, marks a shift for the company, which has been primarily known as a silver developer in Mexico.
“The other part of value creation here is you take assets that are not Tier 1 assets at this point in time, and you convert them to Tier 1 assets,” he explained.
Source – KITCO News
Costco offers members an opportunity to purchase one-ounce gold bars in the store, online or via their app. The retailer offers gold bullion bars, 1-ounce bars and coins in different designs. As of February 2025, Costco offers the following gold products:
- 1 oz. gold bar PAMP Suisse Lady Fortuna Veriscan
- 1 oz. gold bar Rand Refinery (online only)
- 2025 1 oz. American Buffalo gold coin
- 1 oz. gold bar PAMP / Newmont Lady of Liberty (online only)
- 100-gram gold bar Rand Refinery
Costco’s selection comes from authorized dealers and reputable mints. However, as Costco members are accustomed to, offerings and availability may change.
Costco marks up its cost for gold by roughly 2%. Markup is common practice among gold dealers and retailers, and 2% is on the low end of industry standards.
Source – CBS News
Freeport McMoRan (NYSE:FCX) trades little changed Thursday as Jefferies upgrades shares to Buy from Hold with a $48 price target, raised from $40, just one month after downgrading due to risks in Indonesia, a cautious view on copper, and the company’s near-term lack of free cash flow.
If tariffs are implemented, Comex copper price premiums to the LME, which have been high already because of potential tariffs, likely will rise further, Jefferies analyst Christopher LaFemina says, noting Freeport (FCX) sells 1.35B lbs/year of copper at Comex prices and the current Comex premium to LME is ~$0.30/lb, and tariff-impacted imports would effectively set the Comex price since the U.S. cannot be self-sufficient in copper.
Source – Seeking Alpha
Jefferies – Jefferies Financial Group Inc. is an American multinational independent investment bank and financial services company headquartered in New York City.
“While traditionally inflation and real yields have been the main drivers of gold prices, recently central bank buying has emerged as the primary catalyst behind the current gold price increase,” according to a recent research note by Bank of America’s Global Commodity Research’s Franciso Blanch and Irina Shaorshadze.
George Milling-Stanley, chief gold strategist at State Street Global Advisors, also believes central-bank buying will keep gold humming this year, but he also sees two additional drivers.
Source – Fox Business
Gold’s price (XAU/USD) is jumping higher as buyers dig into the precious metal on Monday, printing several fresh all-time highs above $2,900 at the time of writing.
The Pivot Point level on Monday is the first nearby support at $2,866, followed by the S1 support at $2,846. From there, S2 support should come in at $2,832.
Source – FXStreet
