|

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

Similar Posts

  • /

    Ivanhoe Mines Unveils Independent Phase 2 and Phase 3 Expansion Studies

    ByVictoria
    0 Comments

    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.

    Ivanhoe Mines’ Founder and Co-Chairman, Robert Friedland commented: “The results of these studies mark the culmination of three decades of tireless efforts by thousands of our people to discover, then delineate, and finally build a world-class, polymetallic mining complex that will have a life span of many human generations.

    Source – Junior Mining Network

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

  • /

    Hidden Valley copper mine life extended to mid-2040s

    ByVictoria
    0 Comments

    Teck Resources (NYSE:TECK) said late Tuesday it received an environmental assessment certificate from the British Columbia provincial government to extend the life of the Highland Valley copper mine into the mid-2040s.

    “This positive decision by the Government of B.C. will support extending the life of Canada’s largest copper mine, strengthening the North America critical minerals supply chain and contributing to jobs and economic activity,” Teck (TECK) President and CEO Jonathan Price said.

    Source – Seeking Alpha

  • / /

    Over the Weekend!

    ByVictoria
    0 Comments

    Robert Kiyosaki Predicts Gold, Silver, Bitcoin Crash Over Trump’s Tariffs—Says It’s A Buying Moment

    Kiyosaki said, “Trump tariffs begin: gold, silver, Bitcoin may crash.” He indicated his plan to purchase more Bitcoin if prices plummet, seeing it as an opportunity to grow his wealth. However, he also pointed out the U.S. national debt as a major problem that Bitcoin might not be able to address.

    Source – Benzinga

    BHP awards EPCM contract for copper smelter expansion in South Australia

    Fluor president of mining & metals Harish Jammula said: “We are excited to support BHP on their growth plans to increase production of refined copper cathode in south Australia.

    “Accelerated expansion of the downstream processing sector is increasingly important to secure local supply of mined materials, become independent of overseas supply and drive sustainable production technologies.”

    Source – Global Data

  • /

    Gold prices on the rise to record highs

    ByVictoria
    0 Comments

    At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741

    The US Dollar Index (DXY), which measures the performance of the Greenback against a basket of six peers and usually correlates inversely to Gold, rises 0.08%, up at 108.16.

    Gold prices are set to challenge record high of $2,790 amid ongoing US trade policies uncertainty. 

    Source – FXSTREET