Bullion traded around $3,020 an ounce, less than $40 shy of the record high reached last week. Gold-backed ETFs have added about 154 tons so far this year, according to data.
Spot gold rose 0.3% to $3,021.31 an ounce as of 11:18 a.m. in New York, snapping three days of losses. The Bloomberg Dollar Spot Index fell 0.2%. Silver, platinum and palladium all advanced.
Source – Bloomberg
The inventory of unstruck ready-to-strike cent planchets combined at the Denver and Philadelphia Mints is considered by the Federal Reserve and the U.S. Mint enough to handle production needs for the near future as the mintages wind down, with no more planchets ordered from the lone outside vendor.
The unstruck planchets are also sufficient for striking Uncirculated Lincolns cents at the Philadelphia and Denver Mints for inclusion in 2025 Uncirculated Mint sets and for Proof sets executed at the San Francisco Mint.
Source – Coin World
Gold price have risen from Wednesday’s record close, propelled by fears that Trump’s tariffs will continue to hammer stocks and expectations that central banks will continue to hoard the precious metal. Gold futures for April delivery settled Wednesday at $3,139.90 a troy ounce, the latest notch in their 19% climb this year.
Source – The Wall Street Journal
Gold fell 2% on Thursday, hitting a near one-month low, after a U.S.-China trade agreement boosted risk appetite and diminished bullion’s appeal as a safe-haven asset.
Spot gold fell 2% to $3,261.28 per ounce by 0934 a.m. EDT (1334 GMT), its lowest level since May 29. Bullion was down for a second straight week, slipping 3.2% so far
U.S. gold futures dropped 2.2% to $3,272.90.
Spot silver slipped 2% to $35.88 and was set to fall for the week.
Palladium fell 0.8% to $1,122.77, but was headed for weekly gains. Platinum eased 6.5% to $1,325.48, and headed for a fourth consecutive weekly rise.
Source – Reuters
Barrick Gold will resume operations at its shuttered Loulo-Gounkoto mine in Mali once authorities in the country allow it to resume gold shipments, CEO Mark Bristow said on Wednesday.
“We will start the operations as soon as we get approval to ship the gold and we need to ship the gold to pay anything to the government,” Bristow said, adding that Barrick paid $460 million to the Mali government last year.
“So if you calculate that to per week… and every week we don’t do this it hurts everyone,” he added.
Source – Reuters
The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028
“Our stated goal is to become a green, high-tech, leading global company,”
“By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining
“We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said.
Source – Kitco NEWS
ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.
President Donald Trump on Wednesday said the White House was “very busy” crafting its trade policy as the clock ticks down on his self-imposed August 1 deadline. At that point, America could fundamentally reshape the way it does business around the world.
Trump signed executive actions on Wednesday imposing a 50% tariff on Brazil, a 50% tariff on certain copper products and suspending a tax perk for all countries that allowed cheap packages to fly into the US duty-free.
Trump said the agreement, if completed, would include developing Pakistan’s oil reserves with a yet-to-be-named oil company.
Source – CNN
