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Gold and Silver “Technical Scoop”

ByVictoria

Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments. The result was a 3.0% gain for gold this past week and a close at the magical $3,000.

Other precious metals rose this past week. Silver was up 4.9%, while platinum gained 4.8% and is back over $1,000. Near precious metals saw palladium up 1.9% and copper gaining 4.0% as it marches towards $5.00.

Source – Silver Seek

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    Gold and Silver up, weak dollar

    ByVictoria
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    Spot gold gained 0.8% to $3,340.53 an ounce as of 0300 GMT, after hitting its highest level since May 9.

    U.S. gold futures rose 0.9% to $3,341.90.

    “Gold’s bullish reversal is supported by a weaker U.S. dollar and lingering stagflation risks in the U.S. economy,” said Kelvin Wong, senior market analyst, Asia Pacific at OANDA.

    Spot silver rose 0.5% to $33.54 an ounce, platinum gained 0.1% to $1,077.33 and palladium lost 0.6% to $1,031.46.

    Source – Reuters

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    VIZSLA Silver files updated tech report

    ByVictoria
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    Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) (“Vizsla Silver” or the “Company”) is pleased to announce that, further to its news release dated January 6, 2025, it has filed an independent technical report (the “Technical Report”) containing an updated mineral resource estimate on the Company’s Panuco silver-gold project. The Technical Report has an effective date of September 9, 2024, and was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) by Allan Armitage, Ph. D., P. Geo., Ben Eggers, MAIG, P.Geo., and Henri Gouin, P.Eng.  of SGS Geological Services and Peter Mehrfert, P.Eng., James Millard, P.Geo., Scott Elfen, P.E., and Jonathan Cooper, P.Eng. of Ausenco Engineering Canada ULC.

    The Technical Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and is also available on the Company’s website (www.vizslasilvercorp.com).

    Source – PR Newswire

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    Central Banks keep gold rally

    ByVictoria
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    Central banks are expected to help keep gold’s stunning rally going this year with buying aimed at further diversifying reserves away from the dollar due to risks stemming from U.S. President Donald Trump’s policies.

    Spot gold hit its latest record at $3,167.57 a troy ounce on Thursday for a gain of 19% since the start of 2025 and a hefty 71% rise since the end of 2022.

    “Emerging market central banks currently hold around 10% of their assets in gold. They should really hold 30% of their assets in gold,” said BofA commodity strategist Michael Widmer.

    “From the central banking perspective (uncertainty) means less incentive to add Treasuries into portfolios and more incentive to actually de-dollarise it,” he said.

    Source – Reuters

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    Barrick Gold temporarily suspended from mining in Mali

    ByVictoria
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    News is from 1/14/2025
    This is a follow up on Barrick Gold and it’s current mining situation.

    Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the company remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Additionally, the interim attachment order on the gold has now been executed by the Malian government by moving the existing gold stock from the site to a custodial bank, further preventing the shipment and sale of the gold.

    As a result, Barrick has regrettably initiated the temporary suspension of operations while it continues to work towards a resolution.

    Barrick remains committed to constructive engagement with the Malian government and all stakeholders to find an amicable solution that ensures the long-term sustainability of the Loulo-Gounkoto mining complex and its vital contribution to Mali’s economy and communities.

    Source – Barrick