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Central banks back at it, jewelry fell

ByVictoria

Central banks worldwide are on track to buy 1,000 metric tons of gold in 2025, which would be their fourth year of massive purchases as they diversify reserves from dollar-denominated assets into bullion, consultancy Metals Focus said.

The price rally has so far kept purchases by central banks, a crucial category of demand, unaffected with the first-quarter buying in line with the 2022-24 quarterly average, Metals Focus said in its annual report on Thursday.

Jewelry demand for bullion has been hit hard by the price rally. Gold jewelry fabrication fell 9% to 2,011 tons in 2024 and is expected to deliver a 16% slump this year with India and China accounting for much of this decline.

Source – Reuters

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    Silver prices in India ended the week higher, closing at ₹1,01,522 per kg on Friday, March 28, 2025. The metal gained ₹209 (0.21%) on the Multi Commodity Exchange (MCX) for May delivery, with a turnover of 22,870 lots.

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    Spot prices hit another record high of $3,357.40 per troy ounce on Wednesday before falling back after Federal Reserve chair Jerome Powell said President Donald Trump’s tariffs were “significantly larger” than expected.

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    Gold futures rising

    ByVictoria
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    Gold to remain stong, silver expected to rise

    ByVictoria
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    Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key U.S. inflation data for clues on the Federal Reserve’s interest rate trajectory.

    Spot gold XAU= was up 0.3% to $3,330.69 an ounce at 1122 GMT. U.S. gold futures GCcv1 were up 0.3% to $3,351.60.

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    Ivanhoe Mines Unveils Independent Phase 2 and Phase 3 Expansion Studies

    ByVictoria
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    Mokopane, South Africa–(Newsfile Corp. – February 18, 2025) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced today that the company’s subsidiary, Ivanplats, and its partners, welcome the positive and significant results from two independent technical studies completed on the Phase 2 and Phase 3 expansions of the tier-one Platreef platinum, palladium, rhodium, nickel, gold, and copper mine in South Africa.

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    Fantastic study and very detailed article to fill your day with. -V. 🙂