Gold has reached new all-time highs, and the gold-to-silver ratio now exceeds 90:1. Such a high ratio has often signaled an impending breakout for silver prices. It indicates that silver could be undervalued, and we may be on the verge of a major price surge. Sometimes, if you miss a price run-up for gold, you can make up for it by buying silver instead as it catches up to its yellow cousin.
Source – Seeking Alpha / SchiffGold
An internal document seen by Reuters showed Codelco’s production reached 1.328 million tons in 2024, at the low end of its target range and just about 3,500 tons higher than the quarter-century low in 2023.
The worker, who asked not to be identified because they were not authorized to talk about internal operations, said Codelco has yet to fix bottlenecks in transporting minerals in the mine.
Cristian Cifuentes, an analyst at the Center for Copper Studies (CESCO), said that the Ministro Hales mine is still at reduced capacity and the ramp up of Chuquicamata Underground has been “slower than we all thought.”
Source – Reuters
The SPDR Gold Shares ETF was up 3.3% in morning trading, according to FactSet data, at last check. That brought its year-to-date gain to a massive 30.6%.
Source – Market Watch
A contested mine in Central Idaho that will produce gold and antimony earned the U.S. Forest Service’s final approval following a lengthy environmental review and objections from the Nez Perce Tribe, which will lose access for decades to federal lands guaranteed by a U.S. treaty.
“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Pepetua’s president and CEO, said in a statement.
“The tribe’s treaties with the United States are the supreme law of the land and remain binding,”
Source – Idaho Statesman
The price of gold in Pakistan has seen a sharp increase, with rates climbing by Rs 4,300 per tola, according to the All Pakistan Gems and Jewellers Association.
Following the rise, the new price of gold per tola now stands at Rs 358,400. Similarly, the price of 10 grams of gold has gone up by Rs 3,687, reaching Rs 307,270.
Source – Daily Times
RS – means Relative Strength in finance.
The other meaning for Rs is for rupees. Rupees are used in India and Pakistan. Other (smaller) countries like Sri Lanka, Mauritius, Nepal, and Seychelles also use rupees as their currency.
Gold prices in Lucknow continue to reflect the national upward trend, with 22-karat gold priced at Rs 9,395 per gram and 24-karat (999) gold at Rs 10,248 per gram as of Wednesday. These rates are slightly higher than those in several other major cities, including Chennai, Mumbai, Bengaluru, Hyderabad, and Kolkata, where 22K gold is priced at Rs 9,380 and 24K gold at Rs 10,233 per gram.
Source – ABP-Live
Rs – means Relative Strength and is used in momentum investing and in identifying value stocks.
