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Cerrado Gold production results

ByVictoria

Mark Brennan, CEO and Chairman commented, “While Q2 results were modestly lower than our expectations as the heap leach continues to ramp up to its fully expanded capacity, we continue to be confident in our full year expectations as the underground operations ramp-up in H2/25. Cerrado also continued to progress both the Lagoa Salgada project and the Mont Sorcier projects towards completion of feasibility studies by Q3/2025 and Q1/2026 respectively, which we believe should demonstrate substantial value being unlocked by Cerrado’s development projects.”

Source – USA Today

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    Gold holds with little change

    ByVictoria
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    Spot gold fell 0.1% to $3,030.13 an ounce, as of 09:35 a.m. ET

    “There are concerns that tariffs could spark inflation, and there’s a consensus that despite rising prices from U.S. tariffs, the Federal Reserve might start easing policy around mid-year,” said Bart Melek, head of commodity strategies at TD Securities.

    “I expect gold to trade roughly where it is now, give or take about $25,” Melek said.

    Spot silver dropped 1.2% to $33.61 an ounce, platinum lost 1.6% to $980.90 and palladium fell 0.8% to $959.20

    Source – Reuters

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    Gold not expected to do well this week

    ByVictoria
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    Gold prices fell on Friday and were poised for their worst weekly performance in more than a month after the Federal Reserve tempered expectations for rate cuts and on a temporary easing of concerns about an imminent U.S. attack on Iran.

    Spot gold slipped 0.7% to $3,347.80 an ounce, as of 1201 GMT, and was down 2.5% for the week so far. U.S. gold futures shed 1.3% to $3,364.00.

    “Gold, silver, and platinum all suffered setbacks as traders booked profits after Wednesday’s FOMC meeting,” said Ole Hansen, head of commodity strategy at Saxo Bank.

    “Gold is likely to extend its current consolidation phase with support around $3,320 followed by $3,245.”

    Source – Reuters

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    Aya Gold & Silver down

    ByVictoria
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    Shares of Aya Gold & Silver were down Friday after the company reported lower silver production than analysts expected in the fourth quarter.

    The stock retreated 15% to 10.85 Canadian dollars ($7.58).

    Silver production in the fourth quarter totaled 491,310 ounces, compared with 450,046 ounces in the same period a earlier.

    Source – Market Watch

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    Foreign traders banned from gold markets

    ByVictoria
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    Ghana has banned all foreigners from trading in its local gold market as part of efforts to boost national revenue and streamline the country’s mining sector.

    It follows the enactment of a new law earlier this month that grants exclusive authority of gold mining to a new state body, the Ghana Gold Board

    “All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025,” said GoldBod spokesperson Prince Kwame Minkah in a statement.

    However, foreigners are allowed to apply to buy or off-take gold directly from the GoldBod but can no longer operate within the local gold value chain.

    “It sends a strong message to foreign actors – especially Chinese operatives – who have circumvented local laws for years,” Nana Asante Krobea, a mining governance consultant

    Source – BBC

  • US Treasury yields down

    ByVictoria
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    Investors are expecting a packed week of economic data starting with the Chicago Fed National Activity Index for January out on Monday at 8:30 a.m. ET. This will be followed by the Dallas Fed Manufacturing Index at 10:30 a.m.

    The most anticipated data for the week will be the personal consumption expenditure index, which will be delivered on Friday at 8:30 a.m. ET. The Federal Reserve’s preferred inflation gauge heavily influences the Fed’s rate-cutting decisions.

    Source – CNBC