Gold Fields (NYSE:GFI) +4.2% pre-market Thursday after reporting a 42% jump in FY 2024 profit and saying it met revised full-year guidance after a stronger H2 performance.
Gold Fields (GFI) raised its dividend by 34% to a company record 10 rand/share ($0.54) per share, prompting CEO Mike Fraser to say the company may consider a share buyback program as a way to boost shareholder returns if the gold price remains elevated.
Source – Seeking Alpha
Copper traded on the London Metal Exchange has jumped 14 per cent this year and reached $US10,046.50 a tonne on Thursday, the highest since October.
“Traders are redirecting the metal from Asia to take advantage of the price premium and skirt any potential tariffs on the metal,” said ANZ senior commodity strategist Daniel Hynes.
“The US copper rush could leave the rest of the world tight on copper if demand picks up more quickly than expected,” said ING commodity strategist Ewa Manthey.
Source – Financial Review
VANCOUVER, British Columbia, Feb. 12, 2025 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to provide details on the upcoming 2025 work program (the “2025 Program”) at its Calico Silver Project (“Calico” or the “Project”) located in San Bernardino County, California, as well as provide an update on the newly optioned Cinco de Mayo Project in Chihuahua, Mexico.
Source – Globe News Wire / Yahoo Finance
Spot gold held steady at $3,047.1 an ounce as of 0700 GMT, after hitting a record high of $3,057.21 earlier in the session.
U.S. gold futures gained 0.4% to $3,054.10.
“For now, gold’s appeal as a safe haven and inflation hedge has further strengthened in light of those geopolitical concerns and tariff uncertainty. We remain constructive on the outlook of gold,” said OCBC forex strategist Christopher Wong.
Spot silver was flat at $33.8 an ounce, platinum fell 0.3% to $989.85. Palladium slipped 1% to $949.50.
Source – Reuters
Platinum demand outpaced supply by 995,000 ounces last year. That was 46 percent higher than forecast.
Meanwhile, platinum jewelry sales grew by 8 percent in 2024, and investment demand took off, rising by 77 percent.
The WPIC forecasts that jewelry demand will reach 2 million ounces this year, an increase of 2 percent year-on-year.
Source – Money Metals
Source – KITCO
Spot gold eased 0.2% to $2,758.49 per ounce by 09:55 a.m. ET (1455 GMT), while U.S. gold futures rose 0.3% to $2,775.60, widening the premium over spot gold rates.
“However, the Fed’s commentary in regards to the potential for an interest rate cut in the March meeting is going to be in focus,” said David Meger, director of metals trading at High Ridge Futures.
Elsewhere, spot silver gained 1.7% to $30.92 per ounce, platinum also added 0.5% to $946.45. Palladium was up 0.8% to $962.50.
Source – Reuters
