|

Gold prices rise, gold futures up

ByVictoria

Gold prices rose on Tuesday, supported by safe-haven demand amid uncertainty over U.S. President Donald Trump’s tariff plans for next week that could potentially boost inflation.

Spot gold was up 0.3% at $3,021.39 an ounce at 11:24 a.m. ET (1524 GMT). U.S. gold futures were up 0.4% at $3,026.20.

“Investors are concerned about the state of the world, especially with U.S. policies being what they are, and so they’re buying gold as an alternative asset because they’re concerned that the U.S. government may throw the world into a global recession,” said Jeffrey Christian, managing partner of CPM Group.

Spot silver gained 1.8% to $33.59 an ounce, platinum added 0.8% to $980.80 and palladium added 1.1% to $961.60.

Source – Reuters

Similar Posts

  • /

    Cochilco expects to hold copper price till 2026

    ByVictoria
    0 Comments

    “These projections are supported by a rise in copper demand from the energy transition, electricity grids and a limited supply,” Claudia Rodriguez, Cochilco’s interim VP, said in a statement, adding that geopolitical tensions also played a role.

    “Uncertainty about China’s economic recovery, tariffs implemented by the United States and the hardening of monetary policy could limit the demand for copper, affecting its price,” Rodriguez said.

    It also expects Chile’s copper production to rise by 4.6% this year to 5.76 million tons and grow another 3.6% to 5.97 million tons in 2026.

    Source – Mining.com

  • /

    Gold is turning jewelers to platinum

    ByVictoria
    0 Comments

    Prices of platinum, a white precious metal, have rallied over 30% this year to date, with spot prices currently around $1,200 per ounce. Spot gold prices are around 27% higher over the same period.

    “Rising gold prices are incentivising jewellers to diversify, in what represents a change to historical patterns.”

    The BofA analysts wrote that even a 1% switch in gold to platinum jewelry could help double the white metal’s supply deficit to 1.6 million ounces.

    Source – Markets Insider

  • Mining in Peru suspended

    ByVictoria
    0 Comments

    Mining in Peru’s northern district of Pataz will be suspended for 30 days, President Dina Boluarte said on Monday, after 13 gold mine workers in the area were kidnapped and killed by illegal miners.

    On Sunday, miner Poderosa said the bodies of 13 workers from a local firm, R&R, which held a mining contract with Poderosa, had been recovered by police after they were kidnapped last month.

    “The armed forces will take control of the area where Poderosa operates,” Boluarte said, but did not provide details on how the mining pause would work.

    Peru is the world’s third-largest copper producer, but the deposits of the red metal are largely in the south. Gold and silver are mined in the north.

    Jorge Montoro, said the 30-day pause could be extended.

    Source – Reuters

  • /

    Switerlands gold exports reach highest since 2022

    ByVictoria
    0 Comments

    Over the last two months, 12.9 million troy ounces (401 metric tons) of gold were delivered to COMEX-approved warehouses, raising stocks there by 73.5% to 30.4 million ounces, the highest since July 2022.

    According to the Swiss data, gold deliveries from the country to the U.S. rose to 64.2 tons in December from 3.3 tons in the last month of 2023. In March 2022, when global markets were grappling with immediate consequences of Russia’s invasion of Ukraine, Switzerland exported 81.5 tons of gold to the U.S.

    Source – US News / Reuters

  • /

    Riversgold secures 80% stake in Kalgoorlie Gold Project

    ByVictoria
    0 Comments

    Riversgold Ltd has exercised its option to acquire an 80% interest in the Kalgoorlie Gold Project’s Northern Zone in Western Australia after meeting the required A$600,000 minimum exploration expenditure.

    Exploration efforts have identified a significant blind porphyry gold system, with widths of up to 600 metres and mineralisation extending beyond 400 metres in depth.

    Source – Proactive Investors