Gold Spot Price
Source – APMEX
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Over the Weekend!
Bitcoin Lags Behind Gold
Bitcoin has gained just over 3% year-to-date, trailing gold’s 9% jump, according to data compiled by Bloomberg. The precious metal reached a record high of $2,882 an ounce after President Trump on Feb. 4 said the US could take over Gaza — a comment his aides sought to tone down. Bitcoin is currently about 10% below its peak.
Source – Bloomberg
Mali gold production plunges 23%
Mali’s industrial gold production plunged 23% to 51 metric tons last year from 66.5 tons in 2023, the West African country’s mines ministry said.
With an estimated 6 tons produced in artisanal mines, Mali’s total gold production in 2024 is expected to reach 58.7 tons, the mines ministry said.
Source – Reuters
Michael Oliver says Gold’s Making All-Time Highs, SILVER To Follow
“I think that once you punch a hole in the stock market… you’re going to have a lot of that money moving,” he predicted, suggesting that a 5-10% drop could trigger a significant shift in investor sentiment, driving capital towards safer havens like gold and silver.
“Silver didn’t move with commodities in moved with gold,” he asserted, countering arguments that silver has lost its monetary significance.
Source – The Jerusalem Post / Opinion
Copper production up 11%, Antofagasta PLC
Chilean miner Antofagasta said on Wednesday its copper production rose 11% to 314,900 metric tons in the first half of 2025, on higher production from its two concentrators.
The London-listed company left guidance for full-year copper output unchanged between 660,000 and 700,000 tons.
Source – Reuters
Gold and Silver Rates in Mumbai
Closing rates for silver and gold in Mumbai show significant valuations, with silver priced at Rs 99,641 per kilo, standard gold (99.5 purity) at Rs 90,750, and pure gold (99.9 purity) at Rs 91,115.
Source – Devdiscourse
Last years gold prices lead to this years strong prices
Gold prices made steady progress last year and have continued that with a very strong start to this year, said George Milling-Stanley, chief gold strategist at State Street Global Advisors. That has led to April gold’s settlement at $3,001.10 an ounce on Comex Friday, the highest most-active contract finish on record.
Source – Market Watch
Freeport – McMoRan Inc is developing new technology
After 154 years of digging at Morenci, all the easily recoverable copper has been mined. Left behind are towering piles of waste rock that hold nearly 10 million tons of the metal seen as critical to global electrification. It’s a cache that could prove key to President Donald Trump’s ambition to boost US production of critical minerals.
Freeport-McMoRan Inc., which owns Morenci, is trying to develop technology that can burrow within those gigantic waste piles and extract low-grade copper that miners previously saw as too expensive and difficult to process.
“For a long time, we just didn’t think it was possible to recover any of this stuff,” said Robert Pollock, Morenci’s site manager, gazing up at a waste pile the size of a Manhattan office building. “But now, all this historical copper – we’re going after it.”
Source – Bloomberg
Silver Continues to See Same Ceiling
The silver market continues to threaten the same barrier, which starts at the $32.35 level, and then reaches the $32.50 level before it is all said and done. Because of that, the market, I believe, is just simply grinding away or even pecking away, if you will, at the barrier that has been one of the biggest factors here in the silver market.
Source – FXEMPIRE / Opinion