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Barrick Gold signs new agreement with Mali’s government

ByVictoria

Barrick Gold (NYSE:GOLD) +3.2% in Wednesday’s trading to its highest in more than two months following a Reuters report that the miner has signed a new agreement with Mali’s government, which would end the dispute over the company’s mining assets in the country.

As part of the new deal, Barrick (GOLD) reportedly will pay 275B CFA francs, or $438M, to the government in return for the release of detained employees and seized gold, allowing for the restart of operations at the Loulo-Gounkoto mine.

Source – Seeking Alpha / Reuters

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Last years gold prices lead to this years strong prices

ByVictoria
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Gold prices made steady progress last year and have continued that with a very strong start to this year, said George Milling-Stanley, chief gold strategist at State Street Global Advisors. That has led to April gold’s settlement at $3,001.10 an ounce on Comex Friday, the highest most-active contract finish on record.

Source – Market Watch

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Over the Weekend!

ByVictoria
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Bitcoin Lags Behind Gold

Bitcoin has gained just over 3% year-to-date, trailing gold’s 9% jump, according to data compiled by Bloomberg. The precious metal reached a record high of $2,882 an ounce after President Trump on Feb. 4 said the US could take over Gaza — a comment his aides sought to tone down. Bitcoin is currently about 10% below its peak.

Source – Bloomberg

Mali gold production  plunges 23%

Mali’s industrial gold production plunged 23% to 51 metric tons last year from 66.5 tons in 2023, the West African country’s mines ministry said.

With an estimated 6 tons produced in artisanal mines, Mali’s total gold production in 2024 is expected to reach 58.7 tons, the mines ministry said.

Source – Reuters

Michael Oliver says Gold’s Making All-Time Highs, SILVER To Follow

“I think that once you punch a hole in the stock market… you’re going to have a lot of that money moving,” he predicted, suggesting that a 5-10% drop could trigger a significant shift in investor sentiment, driving capital towards safer havens like gold and silver.

“Silver didn’t move with commodities in moved with gold,” he asserted, countering arguments that silver has lost its monetary significance.

Source – The Jerusalem Post / Opinion

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Gold futures hold record high

ByVictoria
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Investors are increasingly seeking safe-haven in hard assets like gold, silver, copper and platinum, historically viewed as stores of value in times of financial uncertainty, Saxo Bank’s Ole Hansen says in a note.

Source – Wall Street Journal

More Info!

Futures (in finance) – Are contracts to buy or sell a specific underlying asset at a future date.

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Investors rushing to safe-haven, gold

ByVictoria
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Spot gold hit a record $3,004.86 per ounce on Friday, marking its thirteenth all-time high in 2025. Prices have already climbed 14% this year, after surging 27% in 2024.

“With continued central bank buying, there are multiple factors driving demand. In a backdrop of geopolitical uncertainty and ongoing tariff changes, appetite for gold remains strong,” said Standard Chartered analyst Suki Cooper.

“The inflation data is helping to give the market confidence that the easing cycle will continue, given concerns around inflation and growth,” said Standard Chartered analyst Suki Cooper.

Source – Reuters

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Copper trade up to $US10,046.50 a ton

ByVictoria
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Copper traded on the London Metal Exchange has jumped 14 per cent this year and reached $US10,046.50 a tonne on Thursday, the highest since October.

“Traders are redirecting the metal from Asia to take advantage of the price premium and skirt any potential tariffs on the metal,” said ANZ senior commodity strategist Daniel Hynes.

“The US copper rush could leave the rest of the world tight on copper if demand picks up more quickly than expected,” said ING commodity strategist Ewa Manthey.

Source – Financial Review