|

Gold keeps reaching new highs

ByVictoria

Gold touched an all-time high on Monday, breaching the $3,100 level, as investors turned to the safe-haven asset amid concerns that U.S. President Donald Trump’s tariff plans would stoke a global trade war and economic fallout.

Spot gold was up 0.6% to $3,103.63 an ounce, as of 0255 GMT, after hitting a record high of $3,107.26 earlier. Bullion is up over 8% in March.

“Markets anxiety levels have been ramping up ahead of the reciprocal U.S. tariff announcements, which is keeping gold in high demand as a defensive play,” KCM Trade chief market analyst, Tim Waterer said.

“If the tariff announcements this week are not as severe as feared, then the gold price could start to backtrack as profit-taking from the highs may be triggered.”

Spot silver rose 0.4% to $34.23 an ounce, platinum was steady at $983.51 and palladium gained 0.4% to $975.70.

Source – Reuters

Similar Posts

  • / /

    Gold adds to record rally amid trade war

    ByVictoria
    0 Comments

    Spot gold was up 0.8% at $2,864 per ounce by 09:24 a.m. ET (1424 GMT), after hitting a record high of $2,877 earlier in the session.

    “Gold continues to be largely influenced by trade uncertainties… the tariffs with China and the retaliation has the market on edge, so safe-haven flows remain the dominant factor,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver rose 0.4% to $32.23 per ounce, platinum gained 1.6% to $979.40 and palladium added 0.4% to $994.75.

    Source – Reuters

  • /

    Cerrado Gold production results

    ByVictoria
    0 Comments

    Mark Brennan, CEO and Chairman commented, “While Q2 results were modestly lower than our expectations as the heap leach continues to ramp up to its fully expanded capacity, we continue to be confident in our full year expectations as the underground operations ramp-up in H2/25. Cerrado also continued to progress both the Lagoa Salgada project and the Mont Sorcier projects towards completion of feasibility studies by Q3/2025 and Q1/2026 respectively, which we believe should demonstrate substantial value being unlocked by Cerrado’s development projects.”

    Source – USA Today

  • /

    Kaiser Reef to acquire Henty gold mine

    ByVictoria
    0 Comments

    Australia-based Kaiser Reef has entered into a definitive agreement with Catalyst Metals to acquire the Henty gold mine and associated exploration tenements in north-western Tasmania in a deal valued at A$31.6m.

    Under the deal, Kaiser will make an upfront payment of A$15m and issue A$16.6m in shares, offering Catalyst a 19.99% stake in the company.

    Following the acquisition, Kaiser’s enterprise value will reach A$67m, encompassing three gold mines, including one under care and maintenance and two gold processing plants.

    “Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst’s continued involvement and exposure to the upside at Henty, both as Kaiser’s major shareholder and through their board representation.”

    Source – Yahoo! Finance

  • /

    Barrick Gold temporarily suspended from mining in Mali

    ByVictoria
    0 Comments

    News is from 1/14/2025
    This is a follow up on Barrick Gold and it’s current mining situation.

    Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the company remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Additionally, the interim attachment order on the gold has now been executed by the Malian government by moving the existing gold stock from the site to a custodial bank, further preventing the shipment and sale of the gold.

    As a result, Barrick has regrettably initiated the temporary suspension of operations while it continues to work towards a resolution.

    Barrick remains committed to constructive engagement with the Malian government and all stakeholders to find an amicable solution that ensures the long-term sustainability of the Loulo-Gounkoto mining complex and its vital contribution to Mali’s economy and communities.

    Source – Barrick

  • /

    Silver prices in India gained .21%

    ByVictoria
    0 Comments

    Silver prices in India ended the week higher, closing at ₹1,01,522 per kg on Friday, March 28, 2025. The metal gained ₹209 (0.21%) on the Multi Commodity Exchange (MCX) for May delivery, with a turnover of 22,870 lots.

    Silver remains one of the top-performing assets of FY25, delivering a 35.56% return, surpassing gold (+31.37%), Nifty (+5.29%), and Sensex (+4.96%).

    Max Layton, Global Head of Commodities at Citi, expects silver to trade between $34-$35 per ounce over the next 3-6 months.

    Source – CNBC TV18