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Gold up .6%, dollar weak

ByVictoria

Spot gold was up 0.6% at $3,373.09 an ounce, as of 0552 GMT. U.S. gold futures gained 1.5% to $3,393.80.

The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that a “bullish breakout” of the $3,346 resistance triggered technical buying.

Spot silver was up 0.4% at $36.38 per ounce, platinum rose 1.2% to $1,271.15, still hovering near a more than 4-year high, while palladium was down 1.1% at $1,068.19.

Source – Reuters

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    2026 Red Book United States coin guide book

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    The 2026 edition has been “meticulously redesigned with the collector in mind,” according to the publisher.

    “I am truly honored to have been part of this year’s transformation, working closely with the extremely talented and professional staff at Whitman and the invaluable Red Book Advisory Panel of more than 70 numismatic industry leaders, experts, and supporters,” said Jeff Garrett, Red Book editor and president of Mid-American Rare Coin Galleries. “Every change, from the book’s physical size to its presentation order, was carefully chosen and implemented with a single goal — to enhance the collector’s experience.”

    Source – Coin World

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    Over the weekend!

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    ‘Pivotal Moment’—Coinbase CEO Predicts When Bitcoin Price Could Flip Gold’s $18 Trillion

    “Any country with gold reserves should be holding at least 11% of that amount in bitcoin reserves,” Armstrong posted to X in response to criticism of Trump’s plan for a national bitcoin reserve. “And I believe in the next five to 10 years bitcoin’s market cap will likely surpass gold. So these reserves should grow to exceed gold.”

    “We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC.

    Source – Forbes

    Korea Zinc’s shares rose sharply

    The stock climbed 12% on Friday, its steepest one-day gain in nearly two months, outperforming the benchmark Kospi index’s 0.85% rise.

    The extraordinary shareholders’ meeting had initially been called by private-equity firm MBK Partners and Korea Zinc’s major shareholder Young Poong, which have teamed up and increased their combined stake to more than 40% since September for control of the smelter, to reshape its board and management led by Chairman Yun B. Choi.

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    Freeport-McMoRan hopes copper will be declared “critical mineral”

    ByVictoria
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    Freeport-McMoRan (FCX.N), opens new tab hopes U.S. President Donald Trump declares copper a critical mineral, a move that would unlock tax credits needed to boost American production of the red metal and offset global rivals, CEO Kathleen Quirk said on Monday.

    “Having the incentives and clarity around those would be a big plus for the domestic copper industry,” said Quirk, who became CEO of Phoenix-based Freeport last year.

    “People are understanding more what copper is used for and its importance in our economy. It’s just a matter of time before it’s classified as a critical mineral.”

    “We’re not looking for handouts, but if the government is trying to incentivize domestic production, it’s important to recognize that the U.S. doesn’t have the same grades that we have internationally,” said Quirk.

    Source – Reuters

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    Asia Gold: Elevated prices deter buyers in key hubs

    ByVictoria
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    In India, domestic prices hit an all-time high of 80,034 ($927.69) rupees per 10 grams on Friday, tracking the international spot gold prices and hovering near a record high of $2,790.15 hit on Oct. 31.

    “Retail demand was negligible this week due to the price rise. Most jewellery stores were witnessing thin footfall,” a Chennai-based bullion dealer said.

    Chinese gold prices are higher again and close to historical highs, which has sucked out demand but some people are still buying due to the holiday season starting next week, said a mainland China-based precious metal trader.

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    Barrick Gold temporarily suspended from mining in Mali

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    News is from 1/14/2025
    This is a follow up on Barrick Gold and it’s current mining situation.

    Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the company remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Additionally, the interim attachment order on the gold has now been executed by the Malian government by moving the existing gold stock from the site to a custodial bank, further preventing the shipment and sale of the gold.

    As a result, Barrick has regrettably initiated the temporary suspension of operations while it continues to work towards a resolution.

    Barrick remains committed to constructive engagement with the Malian government and all stakeholders to find an amicable solution that ensures the long-term sustainability of the Loulo-Gounkoto mining complex and its vital contribution to Mali’s economy and communities.

    Source – Barrick

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    Canadian investors add gold, uranium a substitute

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    As the threat of a trade war grows, Canadian investors are seeking protection in gold and in shares of companies producing goods with few substitutes, such as uranium, while looking to take advantage of a weaker loonie and expected volatility.

    “Tariffs are going to hurt all parties quite a bit but if you’re going to spare some industries, you probably spare industries that you don’t have a substitute for and are currently reliant on,” said Ben Jang, a portfolio manager at Nicola Wealth, noting U.S. dependence on Canadian oil, critical minerals and uranium.

    Major producers of uranium include TSX-listed Cameco Corp (CCO.TO)shares of which Nicola Wealth owns. Cameco has pulled back from an all-time high in December but has still managed to advance roughly 46% since early September.

    Source – Reuters