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Gold EFTs rise

ByVictoria

The inflow into physically backed gold exchange-traded funds in April was the largest since March, 2022, with China-listed funds leading the move due to the country’s trade war with the U.S., data from the World Gold Council showed on Thursday.

Gold ETFs saw an inflow of 115.3 metric tons worth $11.2 billion last month, the largest amount since March 2022, when global markets were grappling with the immediate consequences of Russia’s invasion of Ukraine.

This move raised Gold ETFs’ total holdings by 3.3% to 3,560.8 tons by the end of April

Source – Reuters

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    Silver Price Forecast

    ByVictoria
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    Silver price (XAG/USD) continues its upward momentum for the third consecutive session, hovering around $33.30 per troy ounce during Asian trading hours on Thursday. 

    Demand for dollar-denominated Silver could rise as the US Dollar (USD) remains under pressure due to cooling inflation. A weaker Greenback makes commodities more affordable for foreign buyers

    Source – FXSTREET

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    Customer wait times on mint coins addressed

    ByVictoria
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    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.

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    Silver up 1.2%, dollar hits lowest in months

    ByVictoria
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    Silver gained as much as 1.2%, rising for a third day. A guage of the dollar hit the lowest in about three months, as the euro strengthened amid Germany’s plan to boost spending and loosen borrowing restrictions.

    The “tidal wave” of silver risks pushing freely available silver in the London spot market below a critical threshold needed for the market to function, Daniel Ghali, a senior commodity strategist at TD Securities, recently wrote in a note.

    Spot silver rose 0.9% to $32.262 an ounce as of 11:41 a.m. in London. The Bloomberg Dollar Spot Index fell 0.4%. Gold and palladium were little changed, while platinum advanced.

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    B2Gold moving forward with investment of $10m at the Fekola gold complex in Mali

    ByVictoria
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    The decision follows a settlement with the Malian Government over its 2023 mining code, which has reduced the risk of disruption.

    B2Gold CEO Clive Johnson said: “From a B2Gold perspective, we have seen a reduction in risk since the signing of our settlement agreement.”

    “We have expatriate employees that move in and out of the country regularly, including some of the mine management, so there is no reason to think that any detention would ever be contemplated as it relates to B2Gold,” Johnson added.

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    Gold prices rebounded on Tuesday from Mondays selloff

    ByVictoria
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    Gold prices are “not even that far away from all-time highs, so the upward momentum is there, we just need some kind of trigger to get it going,” Blue Line Futures chief market strategist Phillip Streible said.

    Front-month Comex gold (XAUUSD:CUR) for January delivery settled +1.1% to $2,766.80/oz, gold’s 11th gain in 15 sessions, and front-month January silver (XAGUSD:CUR) closed +1.5% to $30.727/oz.

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