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Citi’s gold expectations

Citi expects the price of gold to consolidate around $3,100 to $3,500 per ounce in the third quarter, as prices moderate due to geopolitical de-escalation in the Middle East and an improved global growth outlook, the bank said in a note on Monday.

“We expect continued price consolidation … and highlight our view that we may have already seen the highs at $3,500/oz in late April as the gold market deficit is peaking soon if not already,” Citi said in the note.

Source – Reuters

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  • Arizona “Copper State”, growing demand for ore raises fears to locals

    First, I had no idea that Arizona has a couple of nicknames one of them being “Copper State”. Pretty interesting fact.

    I wanted to share this article because there are mining companies here in the United States that are not talked about enough or just don’t get attention. Being interested in precious metals myself, I’d like to know what’s going on with this particular interest and certain information whether it pertains to me or not, but I felt this was interesting because the locals of this area in Arizona are having to deal with certain changes.

    I would like to include more of these types of articles in the future if anyone is interested but all things precious metals deserve to be know, I feel.

    News!

    One of North America’s largest known undeveloped copper deposits, with visions of multiple open pits and a tailings dump stretching down from the mountains toward the narrow Sycamore Canyon’s far rim.

    “You come here for some peace and quiet,” Corona de Tucson resident Kevin Kennedy said, “and a mine is anything but.” reported Brandon Loomis

    The neighbors and regional environmental groups all make the case that the Sky Islands in general and the Santa Ritas in particular are no place for a massive new mine with multiple open pits. The mountains are home to rare birds and occasionally rarer mammals, like the jaguar, and are considered one of the nation’s most biologically diverse mixing zones of tropical, desert and Rocky Mountain species.

    “There are places that are so precious that they shouldn’t be mined,” said Rob Peters, who directs the local advocacy group Save the Scenic Santa Ritas.

    Source – Arizona Republic

    Would you like to see more?

    I will soon do an article on copper and it’s investing benefits, pros and cons in the near future but please let me know if this is something you would like to see or if you like the news style.

    It’s been quite fun posting updates on the precious metals world, and I’d like to know your point of view, likes or dislikes. I would like to hear from you!

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    Missouri passes bill on gold and silver

    The Missouri legislature has passed a bill that would allow the state government to accept gold and silver as payment for taxes and other transactions

    The legislation, led by Republicans, would require state government entities to accept electronic versions of gold and silver, called “electronic specie currency,” as payment for taxes and public debts. The bill doesn’t require businesses to accept gold and silver as payment for private uses, but it would allow them to do so.

    “The goal is about restoring economic and political freedom back to everyday Missourians,” state Rep. Bill Hardwick (R) said.

    Source – Just The News

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    Codelco targets 1.391 million tons of copper output

    Chilean state miner Codelco, the world’s largest copper producer, is targeting production of 1.391 million metric tons of the red metal this year, according to an unpublished government decree approving its 2025 budget reviewed by Reuters.

    In calculating its budget, Codelco forecast a copper price of $4.30 per pound and expects a cash cost of $1.98 per pound, the document showed.

    Source – Reuters

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    Gold hits another record high

    Spot gold was up 2.2% to $3,299.85 an ounce as of 1107 GMT, after hitting a record high of $3,317.90 earlier in the session. U.S. gold futures gained 2.3% to $3,315.80.

    “Trump’s trade war shows no signs of easing… sparking a fresh move towards safe havens and out of stocks,” said Ole Hansen, head of commodity strategy at Saxo Bank.

    Spot silver rose 2% to $32.94 an ounce, platinum was up 0.1% to $960.85, and palladium gained 0.6% to $977.09.

    Source – Reuters

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    Asia Gold: Elevated prices deter buyers in key hubs

    In India, domestic prices hit an all-time high of 80,034 ($927.69) rupees per 10 grams on Friday, tracking the international spot gold prices and hovering near a record high of $2,790.15 hit on Oct. 31.

    “Retail demand was negligible this week due to the price rise. Most jewellery stores were witnessing thin footfall,” a Chennai-based bullion dealer said.

    Chinese gold prices are higher again and close to historical highs, which has sucked out demand but some people are still buying due to the holiday season starting next week, said a mainland China-based precious metal trader.

    Source – Reuters

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    Apollo Silver Outlines 2025 Calico Work Program

    VANCOUVER, British Columbia, Feb. 12, 2025 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to provide details on the upcoming 2025 work program (the “2025 Program”) at its Calico Silver Project (“Calico” or the “Project”) located in San Bernardino County, California, as well as provide an update on the newly optioned Cinco de Mayo Project in Chihuahua, Mexico.

    Source – Globe News Wire / Yahoo Finance