Spot gold prices surged as high as $3,500.05 per ounce on Tuesday, surpassing the $3,500/oz milestone for the first time.
“With all the geopolitical tensions, central banks do want to diversify away from the dollar and have something that won’t be sanctioned … gold is one of those asset classes that could fit the bill,” Marex analyst Edward Meir said.
Source – Reuters
The price of gold of 99.5 per cent purity climbed Rs 500 to Rs 80,900 per 10 grams. It settled at Rs 80,400 per 10 grams in the previous trading session.
Silver also surged Rs 2,300 to Rs 94,000 per kg from the previous close of Rs 91,700 per kg on Wednesday.
“Gold surged higher trading above Rs 79,000 in MCX, supported by a rupee depreciation,” Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said.
Source – Press Trust of India
Rs (abbreviated) is a financial term that you may or may not be familiar with. I have 2 descriptions for this abbreviated term. Rs stands for Relative Strength.
Analysts estimate that copper demand from energy transition sectors will grow at a CAGR of 10.7%, with the EV sector alone driving a 14.3% increase, solar power 5.6%, and wind applications 9.3%. Overall, the demand for copper is projected to grow at a CAGR of 2.6% through 2034.
Source – Stock News
Peru’s Energy and Mines Minister Jorge Montero expects mining investment in the world’s third-largest copper producer to reach $4.8 billion this year, and output of the red metal to be 2.8 million metric tons, he said on Tuesday.
Source – Reuters
In less than five hours June 13, collectors and the public at large placed sufficient orders to exhaust the maximum authorized mintage of 100,000 Proof 2025-W American Eagle, 250th Anniversary United States Army privy-marked 1-ounce silver dollars, launched for sale at $105 per coin.
The remaining 90,000 available for the June 13 sales launch were sold within five hours.
“Almost immediately, we became aware of concerns regarding the wait times customers in the waiting room were receiving, with some customers initially receiving estimates of 8 hours to ‘more than a day.’ We also encountered issues with payment processing, which were exacerbated by bots and people trying to avoid the household order limits.
For the waiting room, the Mint is looking for ways we can improve this customer experience. The waiting room looks at current traffic trends when calculating wait times.
Source – Coin World
This is an update on the 5 year project possibly longer.
Shares of Vizsla Silver shot up by 12.0% during the morning session, trading at a near 52-week high of $2.76 apiece.
“This update reflects the excellent mineralized continuity that exists at Copala. Reducing the space between drill holes at Copala to 25 metres has resulted in a significantly higher-grade profile in the upper levels of the resource and PEA mine plan,” Vizsla CEO Michael Konnert said in a statement.
Source – Mining.com
News on this topic from October 2020.
Vizsla President and CEO, Michael Konnert, commented: “Recent drilling continues to grow the Napoleon discovery area where the best new intercepts are from the deepest holes completed. Mineralization has been extended to the south over 50m and is completely open at depth. The broad intercepts in NP-20-25 and NP-20-27 as well as the internal high-grade veins increase the possibility of both open pit and underground mining scenarios. The Company’s aggressive exploration program is targeting three vein corridors in the district and it is exciting to see the benefit of systematic drilling around our multiple discoveries, particularly the addition of significantly more mineralization at Napoleon.”
Source – Junior Mining Network
Gold prices edged up on Friday, poised for a weekly gain on safe-haven inflows and a U.S. jobs report revealing lower than expected job growth in February, suggesting the Federal Reserve is on track to cut interest rates this year.
Spot gold added 0.3% to $2,918.11 an ounce as of 09:24 (1424 GMT). Bullion has gained over 2% so far this week, as U.S. President Donald Trump’s ever-shifting tariff policies fanned uncertainty.
“Weaker than expected number is giving gold a slight boost… also a weaker dollar for the week right now is helping,” said Bob Haberkorn, senior market strategist at RJO Futures.
Spot silver fell 1% to $32.28 an ounce and platinum shed 0.1% to $965.58, while palladium edged 0.5% up to $946.
Source – Reuters
