|

Comex gold inventories see sharp rise since Trump’s victory; silver gains

ByVictoria

“The uncertainty surrounding Trump’s first measures as U.S. president fuelled demand for gold as a safe haven. This can be seen, among other things, in the strong inflow of more than 10 tons into the world’s largest and most liquid gold ETF on Friday,” Commerzbank Research said.

“The uncertainty as to whether tariffs will be introduced on gold and silver has already left visible traces on the Comex in recent weeks. In addition, the price premium for gold on the Comex has widened significantly compared to the spot price in London.”

Source – Seeking Alpha

Similar Posts

  • /

    Augusta Gold Corp. $1.70 per share

    ByVictoria
    0 Comments

    Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (“Augusta Gold” or the “Company”) is pleased to announce that it has entered into a definitive merger agreement (the “Agreement”) with AngloGold Ashanti plc (“AngloGold Ashanti”) and certain of its affiliates, pursuant to which AngloGold Ashanti will acquire all of the Company’s issued and outstanding shares of common stock at a price of C$1.70 per share of common stock (the “Price”) in cash (the “Transaction”).

    Richard Warke, Executive Chairman of Augusta Gold, commented, “The offer from AngloGold Ashanti represents a compelling offer to stockholders, locking in a meaningful premium and immediate liquidity as compared to waiting for the Reward Project to commence construction and then produce by mid-2027. Constructing the Reward Project would require additional dilution to raise the required equity, substantial time for construction, and time to get the mine operating at capacity. Taking the foregoing factors into consideration, I believe that the offer from AngloGold Ashanti represents a clearly superior path forward for stockholders.” 

    Source – Cision

  • /

    Gold higher today rising to .3%

    ByVictoria
    0 Comments

    Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite.

    Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session.

    “There is less of a ‘doom and gloom’ outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets,” KCM Trade Chief Market Analyst Tim Waterer said.

    “The dollar remains pressured which is limiting the extent of the slide for gold. However, the $3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the $3,200 level,” Waterer said.

    Spot silver was down 0.1% at $36.02 per ounce, platinum firmed 1% to $1,353.13, while palladium was up 0.2% at $1,135.48

    Source – Reuters

  • / /

    Gold dips, Silver fell and Platinum up

    ByVictoria
    0 Comments

    Gold prices dipped on Wednesday after U.S. President Donald Trump hinted at lower tariffs for China and said he has no plans to fire Federal Reserve Chair Jerome Powell.

    Spot gold fell 2.1% to $3,310.29 an ounce, as of 0811 GMT, after hitting a record high of $3,500.05 in the previous session.

    Spot silver rose 1% to $32.85 an ounce.

    Platinum was up 0.6% at $964.35 and palladium was steady at $935.48.

    Source – Reuters

  • NewRange still trying to build Minnesota’s First copper mine, 20 years later

    ByVictoria
    0 Comments

    “This we hope will be reality in a three to five year period,” PolyMet’s Warren Hudelson told MPR News in 2004.

    Now, 20 years later, the controversial mine in northeast Minnesota still hasn’t opened. It hasn’t even begun construction, because three key permits it needs to advance — approvals state and federal agencies granted more than five years ago — have since been revoked or suspended.

    Source – MPRnews

  • /

    Asia Gold: Elevated prices deter buyers in key hubs

    ByVictoria
    0 Comments

    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

  • /

    Gold up 1.7%

    ByVictoria
    0 Comments

    Futures are up 1.7% at $3,350.60 a troy ounce and on track for weekly gains of nearly 4%.

    “Without a fundamental shift in U.S. fiscal policy, the implications of rising borrowing costs and widening fiscal deficits means the U.S. is on an unstable fiscal policy path, which could lead to heightened market volatility,” says Fawad Razaqzada, analyst at Forex.com.

    Source – The Washington Street Journal