|

Gold up 170% in first quarter

ByVictoria

Gold prices have steadied after surging to a record high amid early signs of consolidation following the rally built on fears around U.S. President Donald Trump’s trade policies.

The precious metal eased to close at $3,287.72 an ounce on Wednesday, down 6.1% from the all-time peak of $3,500.05 hit on April 22.

Total gold investment flows sky-rocketed by 170% in the first quarter of 2025 from the same period a year earlier, reaching 552 metric tons, the highest since the first quarter in 2022, the WGC said in its report on Wednesday.

Source – Reuters

Similar Posts

  • / /

    US Copper’s updated PEA estimates NPV over $1 billion

    ByVictoria
    0 Comments

    Moonlight – Superior project in California

    The study envisions a mine life of 14 years, producing 903,000 tonnes of copper, plus 12 million oz. of silver and 63,000 oz. of gold. A majority of the production will come from mining the sulfide mineralization at Moonlight-Superior.

    US Copper CEO Stephen Dunn said the PEA, which a culmination of several years of planning, drilling, metallurgical testing and engineering studies, confirms “substantial economic opportunity” at current copper prices that can be realized through the development of a series of open pit mines on the property.

    PEA – preliminary economic assessment

    NPV – Net Present Value

    Source – Mining.com

  • /

    Gold boosts South African rand

    ByVictoria
    0 Comments

    South Africa’s commodity-backed currency edged up on Monday, helped by higher gold prices, as investors digested last week’s unexpectedly weak U.S. jobs data and awaited tariff updates ahead of the United States’ August 8 deadline.

    The bourse was boosted by South African miners, including Gold Fields , up 8%, AngloGold Ashanti (AU.N), at 6%, and Harmony Gold , which rose 7%.

    “Our foremost priority is protecting our export industries. We will continue to engage the U.S. in an attempt to preserve market access for our products,” President Cyril Ramaphosa said in a newsletter on Monday

    Source – Reuters

  • / /

    Spot gold and futures down, Silver down

    ByVictoria
    0 Comments

    Gold fell to a near three-week low on Monday as a U.S.-European Union trade accord lifted the dollar and risk sentiment, while investors awaited fresh cues on rate policy from this week’s Federal Reserve meeting.

    Spot gold fell 0.6% to $3,316.03 per ounce as of 11:36 a.m. ET (1536 GMT), after touching its lowest level since July 9, earlier in the session. U.S. gold futures were down 0.7% at $3,313.2 per ounce.

    “I think the more trade announcements we get, the more the dollar increases. These tariff deals are dollar friendly, lowering the allure of gold and driving the sell-off amid a risk-on sentiment,” said Marex analyst Edward Meir.

    Spot silver was down 0.1% at $38.12 per ounce and platinum fell 0.6% to $1,393.25, while palladium gained 2.1% to $1,245.52.

    Source – Reuters

  • /

    Bank of England moving gold to US to avoid tariffs

    ByVictoria
    0 Comments

    Gold inventories in New York are on a path to levels last seen at the outset of the COVID-19 pandemic, with stockpiles in the city hitting $82 billion.

    “People can’t get their hands on gold because so much has been shipped to New York, and the rest is stuck in the queue,” an unnamed industry executive told the FT. “Liquidity in the London market has been diminished.”

    “London remains the major gold market in the world. If you are involved in that market and want to trade or use your gold, you really need to have it in London,” BoE governor Andrew Bailey told the U.K.’s Treasury Committee. 

    Source – Fortune

  • / /

    Ivanhoe Mines Targets Increased Copper, Zinc Production This Year

    ByVictoria
    0 Comments

    The Canadian mining company on Wednesday set a 2025 production target of between 520,000 and 580,000 metric tons of copper at its Kamoa-Kakula operation. 

    Ivanhoe expects to produce between 180,000 and 240,000 tons of zinc at its Kipushi zinc-copper-germanium-silver mine.

    Ivanhoe said that during the last day of the year, a record 750 tons of zinc were produced over a 24-hour period, exceeding the operation’s nameplate capacity.

    Source – Market Watch