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Gold Price levels hit record highs

ByVictoria

The precious metal remains supported as concerns about an intensifying global trade war continue to place downward pressure on the dollar and Treasurys amid diminishing faith in the U.S. as a reliable trading partner. 

Gold’s price, which soared 6% last week and trades 23% higher since the start of the year, seesawed Sunday evening as investors digested news that recently announced U.S. tariff exemptions on smartphones, computers, and semiconductors could be temporary, with the president later pledging a national security trade investigation into the chip sector.

Source – Investopedia

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    Copper’s early-year rally leaves investors unimpressed

    ByVictoria
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    The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.

    Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.

    Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.

    The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.

    Source – Reuters

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    Vizsla Silver shares surge on resource

    ByVictoria
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    This is an update on the 5 year project possibly longer.

    Shares of Vizsla Silver shot up by 12.0% during the morning session, trading at a near 52-week high of $2.76 apiece.

    “This update reflects the excellent mineralized continuity that exists at Copala. Reducing the space between drill holes at Copala to 25 metres has resulted in a significantly higher-grade profile in the upper levels of the resource and PEA mine plan,” Vizsla CEO Michael Konnert said in a statement.

    Source – Mining.com

    More Info!

    Vizsla Resources expands Napoleon with multiple high-grade intercepts at Panuco project, Mexico

    News on this topic from October 2020.

    Vizsla President and CEO, Michael Konnert, commented: “Recent drilling continues to grow the Napoleon discovery area where the best new intercepts are from the deepest holes completed.  Mineralization has been extended to the south over 50m and is completely open at depth.  The broad intercepts in NP-20-25 and NP-20-27 as well as the internal high-grade veins increase the possibility of both open pit and underground mining scenarios.  The Company’s aggressive exploration program is targeting three vein corridors in the district and it is exciting to see the benefit of systematic drilling around our multiple discoveries, particularly the addition of significantly more mineralization at Napoleon.”

    Source – Junior Mining Network

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    Gold down 1.2%

    ByVictoria
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    Spot gold was down 1.2% at $2,882.49 an ounce as of 09:42 a.m. ET (1442 GMT), after hitting its lowest level since February 12 earlier in the session. Prices hit a record high of $2,956.15 on Monday, driven by safe-haven flows.

    “The direction of gold is very evident, and these short-term bumps and some profit taking is just a normal part of the cycle,” said Alex Ebkarian, chief operating officer at Allegiance Gold.

    Spot silver retreated 0.5% to $31.67 an ounce, platinum fell 0.9% to $957.10 and palladium dropped 0.9% to $917.96.

    Source – Reuters

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    Gold fell 3%, Silver .9%

    ByVictoria
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    Safe-haven gold fell 3% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs.

    Spot gold was down 3% at $3,225.28 an ounce, as of 1344 ET (17:44 GMT). Bullion, considered a hedge against economic and geopolitical turmoil, hit a record high of $3,500.05 last month amid increased tariff uncertainty.

    “June gold futures bulls have lost their overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,350. First resistance is seen at $3,250 and then at $3,275,” said Jim Wyckoff, senior analyst at Kitco Metals.

    Spot silver slid 0.9% to $32.4 an ounce, platinum fell 1.9% to $976.06 and palladium dipped 3.4% to $942.69.

    Source – Reuters

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    Opinion piece, Gold impacted by panic buying

    ByVictoria
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    Some finance experts in Simpsonville said they’ve seen a surge in people investing in gold. They said it follows fears over the economy slowing. 

    Co-owner of JEHM Wealth and Retirement Eric Lahaie told 7NEWS the value of gold has increased by more than 30 percent in the last six months. He emphasized that it is largely because of panic buying.

    “The appreciation is all that you’re going to get out of it. It doesn’t produce a dividend. It doesn’t generate interest like a stock, or a bond will do. So, you don’t get that advantage. And then, as I said earlier, it kind of moves in big jumps, and then flattens out for a long time,” said Lahaie. 

    “If you buy it in a brokerage account, when you sell gold, your gains are taxed at your ordinary income up to 28 percent,” Lahaie also said. “Versus, if you sell stock, as long-term capital gain, you’re going to be taxed somewhere between 15 and 20 percent on the high end. So, that’s kind of a disadvantage for gold.” 

    Source – KOLR Springfield

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    3 Gold Stocks And 1 Silver Stock are hitting new highs

    ByVictoria
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    SPDR Gold Shares

    It’s been having a good run: from the early June 2024 low of $212 to the present $264 amounts to a 19.7% return from then to now.

    ASA Gold and Precious Metals

    The South African-founded miner is now domiciled in Bermuda and has a market cap of $477 million. The price-earnings ratio is 7.61 and the stock trades at 1.12 times its book value. ASA in November 2024 paid a .16% dividend.

    Franco Nevada

    Headquartered in Toronto, the company has a market cap of $27 billion. This year’s earnings are down by 13.15%. Franco Nevada has no debt, long-term or otherwise.

    Kinross Gold

    This Canadian miner has a market cap of $14.51 billion. Earnings this year are up by 71%. The price-earnings ratio is 19.74. The debt-to-equity ratio is .26. Kinross Gold pays a dividend of 1.02%.

    Discovery Silver

    This is an OTC stock (also trades on The Toronto Stock Exchange) with an average daily volume of 237,000 shares. Market cap is $433 million. According to the company website, Discovery has “high quality gold producing assets in Canada” and “the world’s largest undeveloped silver deposit in Mexico.”

    Source – Forbes