Gold prices are expected to continue being volatile in the near future on the back of uncertainties regarding US President Donald Trump’s tariff policies, the approaching July 9 deadline, possible trade deals, and the fresh threat of additional 10% tariffs on BRICS countries that align with ‘anti-American policies’.
Source – The Times of India
“Gold bars are bought as a hedge” against tariff-related downside risks to stocks as well as U.S. and global economic growth, commodity analysts at Citigroup said in a research note on Friday after the U.S. stock market’s close. “In precious metals, we see gold moving higher very near term” to $3,000 per ounce, they wrote.
“Gold has soared to another record high today amid a further ratcheting up in trade tensions,” said Joe Maher, assistant economist at Capital Economics, in a note Monday. “Concerns that gold may get caught in the trade-war crossfire may also have led U.S. investors to buy up gold in order to get ahead of any future tariffs that might affect U.S. gold imports.”
Source – Market Watch
The closely watched final number had not previously been reported but Chairman Maximo Pacheco said earlier this week that 2024 output was “slightly higher” than the 1.325 million tons produced in 2023.
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
Analysts in a quarterly Reuters poll have forecast an average annual gold price above $3,000 for the first time, with global trade friction and a swing away from the U.S. dollar powering demand.
The poll of 29 analysts and traders returned a median forecast of $3,065 per troy ounce of gold for this year, up from $2,756 predicted in a poll three months ago. The estimated price for 2026 rose to $3,000 from $2,700.
The poll forecast an average 2025 silver price of $33.10 per ounce, unchanged from the previous survey. It has averaged $32 so far this year.
Analysts lifted their 2026 silver price forecast to $34.58 from $33.45, expecting a structural market deficit and the global clean energy transition to provide support.
Source – Reuters
Discovery Silver is making a significant move into the gold sector with its acquisition of the Porcupine mine in Ontario, Canada, from Newmont. The deal, discussed by CEO Tony Makuch in an interview at the 2025 BMO Global Metals Mining and Critical Minerals Conference, marks a shift for the company, which has been primarily known as a silver developer in Mexico.
“The other part of value creation here is you take assets that are not Tier 1 assets at this point in time, and you convert them to Tier 1 assets,” he explained.
Source – KITCO News
Source – MSN
