Gold prices gained over 1% on Monday as the dollar and U.S. bond yields weakened amid uncertainty over trade talks ahead of a U.S. deadline of August 1 for countries to strike deals or face more tariffs.
Spot gold was up 1.2% at $3,390.79 per ounce at 9:52 ET (1352 GMT). U.S. gold futures were up 1.3% to $3,402.40.
Spot silver gained 1.8% to $38.86 per ounce, platinum rose 2.2% to $1,453.17 and palladium was 3.5% higher at $1,284.46.
Source – Reuters
Source – MSN
“With the price now reaching our long-held target of $3,000/oz, the main question is whether the rally will continue. We think so, as long as policy risks and an intensifying trade conflict continue to spur safe-haven demand,” UBS said.
Source – Seeking Alpha
UBS Group AG – formerly Union Bank of Switzerland, is a multinational investment bank and financial services company based in Switzerland.
Pan American Silver’s shares slumped Monday in the wake of the Canadian miner’s move to buy smaller producer MAG Silver in a cash-and-stock deal valued at about $2.1 billion.
In morning trading, the shares were 14% lower at C$32.61 in Toronto and down 15% at $23.17 on the New York Stock Exchange. MAG Silver in contrast jumped 8.1% to C$25.49, widening its advance so far this year to 30%.
The deal between the Vancouver, British Columbia, companies will bolster Pan American’s position as a silver-and-gold producer in the Americas and add a stake in a big producing silver mine in Mexico. The agreement comes after precious-metals prices have rallied this year, encouraging a number of mergers and acquisitions among mining companies.
Source – Market Watch
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Chilean miner Antofagasta said on Wednesday its copper production rose 11% to 314,900 metric tons in the first half of 2025, on higher production from its two concentrators.
The London-listed company left guidance for full-year copper output unchanged between 660,000 and 700,000 tons.
Source – Reuters
Gold prices eased on Monday on a firmer dollar, in thin, holiday-season trade and as investors sought further clues on the U.S. Federal Reserve’s monetary policy for next year after its latest meeting signaled easing would be gradual.
“Presently, we are in a lull for Christmas week with the gold price trending sideways. Federal Reserve policy is clear with expectations of rising interest rates in the second half of the year,” said Michael Langford, chief investment officer at Scorpion Minerals.
