|

Gold markets hit historic heights amid economic policy uncertainty

ByVictoria

The most recent trading sessions have showcased gold’s resilience and volatility. Following a sharp decline of $45 per troy ounce in spot gold and a $63 drop in April futures on Friday, February 14, the market demonstrated strong recovery momentum. After the Presidents’ Day holiday closure, Tuesday’s trading saw spot gold gain $36.97, and the April futures contract gaining $60.70, nearly reaching the record levels established on February 12.

Source – KITCO News / Opinion

Similar Posts

  • /

    Donald Trump May Implement Copper Tariffs

    ByVictoria
    0 Comments

    US tariffs on copper imports may be coming within weeks, months earlier than Donald Trump’s original deadline for a decision, according to people familiar. He’s previously threatened a duty of 25% on one of the world’s most important metals—and it’s hurting American factories already. The price of copper traded in New York jumped to a record high. Keep on top of the latest with our tariff tracker.

    Source – Bloomberg

  • /

    Gold Hits Record in Volatile Session

    ByVictoria
    0 Comments

    “Until we see clarity on the US policies, both trade-related and economic, it will create an environment for increased levels of gold volatility,” said Joseph Cavatoni, senior market strategist for North America at industry lobby the World Gold Council. “So, while we might see a $3,000 gold price, we expect there could be ongoing movements that bring us back below.”

    Spot gold was down 0.1% at $2,905.73 an ounce at 10:28 a.m. in London, after rising to as high as $2,942.68. Silver, platinum and palladium were all lower. The Bloomberg Dollar Spot Index was steady after climbing on Monday. 

    Source – Bloomberg

  • /

    Gold up .6%, dollar weak

    ByVictoria
    0 Comments

    Spot gold was up 0.6% at $3,373.09 an ounce, as of 0552 GMT. U.S. gold futures gained 1.5% to $3,393.80.

    The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that a “bullish breakout” of the $3,346 resistance triggered technical buying.

    Spot silver was up 0.4% at $36.38 per ounce, platinum rose 1.2% to $1,271.15, still hovering near a more than 4-year high, while palladium was down 1.1% at $1,068.19.

    Source – Reuters

  • /

    JP Morgan analyst on gold

    ByVictoria
    0 Comments

    After a strong run for precious metals, gold mining shares still look undervalued.

    That’s the view from JP Morgan’s latest note on listed producers, which argues there’s room for substantial upside, especially if its bullish forecast for the precious metal proves right.

    Its commodities team is pencilling in a price of $4,100 an ounce for 2026. That’s well above current spot levels of $3,320 and would mark a new all-time high.

    Based on that estimate, JP Morgan sees around 40–50 per cent upside to average analyst expectations for earnings before interest, tax, depreciation and amortisation across the sector.

    Source – This Is Money

  • / /

    ZiJin Mining boosting gold and copper

    ByVictoria
    0 Comments

    The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028

    “Our stated goal is to become a green, high-tech, leading global company,”

    “By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining

    “We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said.

    Source – Kitco NEWS

    ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.

  • /

    AngloGold to acquire Augusta Gold in Nevada expansion

    ByVictoria
    0 Comments

    AngloGold Ashanti (NYSE:AU) said Wednesday it agreed to acquire Augusta Gold (OTCQB:AUGG) for C$1.70/share in cash, implying a fully-diluted equity value of ~C$152M (US$111M).

    The price represents a ~28% premium to Augusta Gold’s (OTCQB:AUGG) closing price on the Toronto Stock Exchange on July 15.

    “This acquisition reinforces the value we see in one of North America’s most prolific gold districts,” AngloGold (AU) CEO Alberto Calderon said.

    Source – Seeking Alpha