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Discover Silver aims to grow production

ByVictoria

Discovery Silver is making a significant move into the gold sector with its acquisition of the Porcupine mine in Ontario, Canada, from Newmont. The deal, discussed by CEO Tony Makuch in an interview at the 2025 BMO Global Metals Mining and Critical Minerals Conference, marks a shift for the company, which has been primarily known as a silver developer in Mexico.

“The other part of value creation here is you take assets that are not Tier 1 assets at this point in time, and you convert them to Tier 1 assets,” he explained.

Source – KITCO News

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    Gold sees longest rally since 2020

    ByVictoria
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    “During the last three days, gold is up over 8% and on pace for its largest three-day move since March 2020,” Bespoke Investment Group said in a note Friday morning. “Before that, you would have to go back to the financial crisis to find the last time it rallied as much in three days.”

    “Gold may be catching a bid, but the dollar has floundered,” said Bespoke. “If you were looking for bonds to provide some ballast in your portfolio this week, you didn’t get it with Treasuries.”

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    Gold rises during holiday trade

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    Gold inched higher on Thursday in holiday-thinned trade, as investors focused on the U.S. Federal Reserve’s interest rate strategy and anticipated tariff policies under President-elect Donald Trump, both of which could influence the metal’s direction in the coming year.

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    Gold prices and futures up

    ByVictoria
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    As economic uncertainty deepens worldwide, gold prices have notched more and more record highs.

    The going price for New York spot gold hit a record $3,424.24 per troy ounce — the standard for measuring precious metals — as of close Monday. That’s about $1,097 higher than a year ago.

    The price of spot gold is up more than 30% since the start of 2025, per the data firm FactSet. By contrast, the stock market has tumbled. The benchmark S&P 500 is down over 12% this year.

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    JP Morgan expects copper prices at $11,000 in 2026

    ByVictoria
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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.

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    Freeport set to resume copper exports from Indonesia

    ByVictoria
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    Indonesia has restricted raw material exports to pressure companies to refine minerals locally and add value to its exports. Freeport has local refining capacity, but is seeking to keep exporting concentrate due to a fire last October at its Manyar smelterin East Java.

    Should exports resume, it will relieve, although not reverse, a shortage of copper concentrate that has hit the profits of smelters.

    Source – Reuters