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CEO says Barrick will continue in Mali once they can ship gold

ByVictoria

Barrick Gold will resume operations at its shuttered Loulo-Gounkoto mine in Mali once authorities in the country allow it to resume gold shipments, CEO Mark Bristow said on Wednesday.

“We will start the operations as soon as we get approval to ship the gold and we need to ship the gold to pay anything to the government,” Bristow said, adding that Barrick paid $460 million to the Mali government last year.

“So if you calculate that to per week… and every week we don’t do this it hurts everyone,” he added.

Source – Reuters

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    JP Morgan expects the global deficit in refined copper to grow to 160,000 metric tons in 2026 and continues to forecast copper prices averaging around $11,000 per metric ton next year, the bank said in a note dated Friday.

    “Likely excess inventory builds in the U.S. in the coming months ahead of a tariff on copper sets up the potential to leave the rest of the world shorter of copper … setting the stage for our forecast bullish push higher over 2H25 towards $10,400/mt,” JP Morgan noted.

    Source – Reuters

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    Gold spot fell and investors waiting for data on Friday

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    Spot gold fell 0.7% to $2,894.55 an ounce as of 09:44 a.m. ET (1444 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns emerging from tariff threats.

    “Bullish trend is still in place… We are not surprised by a period of consolidation ahead of some piece of important data,” said David Meger, director of metals trading at High Ridge Futures.

    Spot silver was down 0.5% to $31.57, platinum eased 0.4% to $963 and palladium dropped 0.4% to $924.01.

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    Gold gained .4%, market “choppy”

    ByVictoria
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    Spot gold gained 0.4% to $3,312.05 an ounce by 08:56 a.m. EDT (1255 GMT), after hitting a session low of $3,285.19 on Tuesday.

    U.S. gold futures rose 0.3% to $3,310.60.

    “The gold market has been kind of choppy recently, just reacting to fresh daily fundamental news events with no real trending price action. In the near term, market top is in place,” Jim Wyckoff, senior analyst at Kitco Metals, said.

    Goldman Sachs recommended on Wednesday a higher-than-usual allocation to gold in long-term portfolios, citing elevated risks to U.S. institutional credibility, pressure on the Fed, and sustained central bank demand.

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    Precious Metals Tracker

    ByVictoria
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