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Gold edges lower, the dollar strengthens

ByVictoria

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.

Source – Reuters / written by Anushree Mukherjee

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Largest gold deposit in the world: NASA scientists discovered

ByVictoria
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NASA scientists estimate that there are almost 20 million tons of gold dissolved in the water of the seas and oceans.

Estimates suggest that nearly 20 million tons of gold are dissolved in seawater. However, the concentration of this metal is extremely dilute across a vast volume of water, making its extraction highly complex.

Source – AS USA

Copper prices edge up in thin trade after past week’s tumble

ByVictoria
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Three-month copper on the London Metal Exchange (LME) rose 0.1% to $8,949.5 a metric ton in official open-outcry trading.

Adding further pressure, the International Copper Study Group said on Friday that the global refined copper market was in a 287,000 metric ton surplus for the first 10 months of 2024.

With a mean reversion strategy in play, copper is likely to strengthen back above the crucial $9,000 mark, Sucden Financial analysts said.

Source – ZAWYA

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Northstar Completes Diamond Drill Program at Miller Copper-Gold Property New 15.76 Metre Copper Zone Discovery

ByVictoria
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Vancouver, British Columbia–(Newsfile Corp. – January 9, 2025) – Northstar Gold Corp. (CSE: NSG) (“Northstar” or the “Company”), is pleased to announce the recent completion of a 7 hole, 1,465 metre diamond drill program at the Company’s 100%-owned Miller Copper-Gold Property, situated 18 kilometres southeast of Kirkland Lake, Ontario.

Source – Newsfile Corp / Yahoo Finance

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Jubilee Metals face power challenges in Zambia

ByVictoria
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“Over the past quarter, we have experienced significant challenges in our Zambian operations brought on by a combination of extraordinary circumstances outside of our direct control. We have addressed the power supply challenge by entering into an additional power supply agreement that sources power across a broader generation network to avoid localised exposure to network instabilities and a single power generation plant,” said Leon Coetzer the CEO of Jubilee Metals

Copper run-of-mine (ROM) and in process stock for Jubilee also increased sharply, reaching 1.21 million tons containing an estimated 8 466 tons of copper units now earmarked for future processing.

Source – Business Report

Silver Price 2024 Year-End Review

ByVictoria
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This year has been an up and down ride for silver after 2023 but seems to have taken a turn in the last quarter of the year.

News!

“Silver fell to a quarterly low of US$30.11 on November 27, but since then the precious metal has regained some ground. As of December 11, it was trading at US$31.88.

The next Fed meeting is set to run from December 17 to 18. Most analysts expect the central bank to make one last 25 basis point cut before pausing in 2025.”

Source – Investing News Network