China gold falls 5.96%
China’s gold consumption fell 5.96% year-on-year to 290.492 tonnes in the first quarter of 2025 as high gold prices continued to curb demand for gold jewellery, the China Gold Association said on Monday.
Source – Reuters
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200% surge over 6 years in Gold prices
Over the past six years, gold prices in India have risen by an astounding 200 per cent, skyrocketing from Rs 30,000 to over Rs 1,00,000 per 10 grams between May 2019 to June 2025, analysts said on Monday. Motilal Oswal Financial Services Limited (MOFSL) reinstated its bullish outlook on the precious metal, considering geopolitical situations.
“We have been fortunate to be part of the gold uptrend since 2019. Following our long-standing bullish stance on the yellow metal, we are now taking a cautious pause in July 2025 — without completely turning away from it,” said Manav Modi.
Source – Zee News
Cerrado Gold production results
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
Silver expected to rise in demand
The precious metal has gained nearly 12% in the year-to-date and is set to benefit from continued macroeconomic and geopolitical uncertainty, alongside potential U.S. interest rate cuts, according to the industry body’s World Silver Survey 2025.
“While ongoing uncertainties elsewhere, along with silver’s healthy supply-demand conditions, will offer support, we do see prices easing back in late 2025.”
Supply is expected to rise by just 2% and demand to ease by only 1%, setting the stage for a 117.6 million ounce deficit.
“We very much expect such a dynamic will emerge eventually, but we feel that a few more years of deficits are needed first to further erode above-ground silver inventories.”
Source – Market Watch
Barrick Gold Corp. stock
Source – MSN
Gold prices rise after sweeping tariffs
Gold rose after President Donald Trump delivered on threats to hit Canada and Mexico with sweeping tariffs and doubled a charge on China, spurring swift reprisals.
Bullion climbed above $2,915 an ounce as Beijing announced 15% duties on some American farm goods, including cotton. Geopolitics was also in the spotlight after the US paused all military aid to Ukraine.
Spot gold rose 0.8% to $2,914.45 an ounce at 10:45 a.m. in London. The Bloomberg Dollar Spot Index fell 0.2%. Silver and palladium gained, while platinum was little changed.
Source – Bloomberg
JSW Group plans copper smelter by 2028-2029
India’s steel-to-power conglomerate JSW Group plans to set up a 500,000 metric ton capacity copper smelter in the eastern state of Odisha by 2028/29 with feedstock of copper concentrate from Peru and Chile, a source directly aware of the matter told Reuters on Thursday.
JSW plans to feed its planned electric vehicle and battery manufacturing facilities with the copper produced at the smelter, the source added. Some of the concentrate supply will come from Hindustan Copper, the source said.
Source – Reuters