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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

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    Gold breaks $3000, what happened

    ByVictoria
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    “Gold is an asset that is able to preserve value under the biggest variety of macroeconomic dislocations that we have seen,” said Thomas Kertsos, co-portfolio manager at First Eagle Investment Management LLC. “We’ve seen that over centuries gold has been able to — despite the volatility — always mean-revert and always maintain its purchasing power, all while providing significant liquidity.”

    “You’ve got huge uncertainty coming out of US policy that’s also just casting its shade over the global economy this year,” said Ian Samson, a multi-asset portfolio manager at Fidelity in Singapore.

    The foundations for the gold rally were partly set by global central banks’ wariness of relying heavily on the US dollar, also a reflection of geopolitical uncertainty.

    Source – Bloomberg

    Rally – is a period of sustained increases in the prices of related indexes. In this case we are talking about gold.

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    Pan American Silver’s shares down

    ByVictoria
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    Pan American Silver’s shares slumped Monday in the wake of the Canadian miner’s move to buy smaller producer MAG Silver in a cash-and-stock deal valued at about $2.1 billion.

    In morning trading, the shares were 14% lower at C$32.61 in Toronto and down 15% at $23.17 on the New York Stock Exchange. MAG Silver in contrast jumped 8.1% to C$25.49, widening its advance so far this year to 30%.

    The deal between the Vancouver, British Columbia, companies will bolster Pan American’s position as a silver-and-gold producer in the Americas and add a stake in a big producing silver mine in Mexico. The agreement comes after precious-metals prices have rallied this year, encouraging a number of mergers and acquisitions among mining companies.

    Source – Market Watch

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    Idaho gold mine wins federal approval despite objection

    ByVictoria
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    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

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    Gold and Silver prices over seas

    ByVictoria
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    On April 1, 2025, 24 carat gold is priced at ₹89,330/10 gm, according to data on the Indian Bullion Association (IBA) at 10.15 am. Further, 22 carat gold is priced at ₹81,886/10 gms. Gold bullion prices have remained steady over the past 24 hours.

    Silver meanwhile, is priced at ₹1,01,200/kg (Silver 999 Fine) at 10.15 am on April 1, according to the IBA website. On the MCX index, the price of Silver has increased by ₹834 to ₹1,00,899/kg.

    Source – Live Mint

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    Northern Superior Resources announcement

    ByVictoria
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    Northern Superior Resources Inc is pleased to announce that it has completed the acquisition of the Hazeur, Monster Lake East, and Monster Lake West Properties originally announced on June 16, 2025 (the “ Transaction “), expanding its total land position in the Chibougamau Gold Camp from 60,016 hectares to 68,522 hectares.

    The Company sees potential to expand the Philibert deposit along strike to the west, particularly within multiple shear zones such as the Red Fox Zone, which historically has seen the most drilling.

    “This acquisition is a major step forward in unlocking the broader potential of the Chibougamau Gold Camp. Not only do these new properties host known gold mineralization and compelling exploration upside, but they also extend key geological structures directly linked to the Philibert deposit. Combined with recent drilling success and a growing resource base, Philibert is rapidly emerging as a cornerstone asset in a camp now coming into prominence on the global stage,” said Simon Marcotte, President and Chief Executive Officer.

    Source – USA Today