|

Gold up, investors nervous

ByVictoria

“Gold has again moved to yet another record, with its safe-haven reputation shining bright,” said analysts at RBC Capital Markets. “With the uncertainty related to Fed independence, gold continues to benefit as a safe-haven, and one not tied to the U.S. dollar.”

Gold has been soaring since early April when investors, alarmed by Mr. Trump’s tariffs, starting selling Treasury bonds. On Tuesday, the spot price of a troy ounce of gold briefly reached above $3,500 before slipping lower.

Source – New York Times

Similar Posts

  • /

    Gold is “uniquely positioned”

    ByVictoria
    0 Comments

    Spot prices hit another record high of $3,357.40 per troy ounce on Wednesday before falling back after Federal Reserve chair Jerome Powell said President Donald Trump’s tariffs were “significantly larger” than expected.

    The Goldman analysts said that stresses in bond markets “increase our conviction that gold is uniquely positioned to hedge recession risk.”

    The bank’s economists say there’s a 45% chance of a US recession in the next 12 months. If that happens, the analysts said gold could hit $3,880 by the end of the year — or even as much as $4,500 under certain scenarios.

    Source – Markets Insider

  • /

    BHP Group may sell Australian operations

    ByVictoria
    0 Comments

    Mining giant BHP Group flagged rising costs and delays at a giant potash project in Canada and said it may sell its Australian nickel operations, as it reported record annual iron ore and copper production.

    The company said Friday it faces rising costs at the Jansen potash project in Canada’s Saskatchewan province, its only major development currently under construction.

    The company said it is also reviewing Jansen’s second stage, which is roughly 11% complete. BHP may delay first production from that expansion by two years, to fiscal 2031, because it reckons there might be more potash supply coming into the market over the medium term than previously envisaged.

    BHP said it expects to produce between 1.8 million and 2.0 million tons of copper in the year ahead.

    Source – The Wall Street Journal

  • Barrick gold seeks arbitration to settle disagreement with Mali

    ByVictoria
    0 Comments

    Barrick is a sector leading gold and copper production. One of the biggest in the world and comes in at 2nd in gold mining.

    “The miner this week threatened to suspend operations in Mali over deteriorating mine conditions. Jefferies analysts wrote in a note this week that closure of the mine would reduce Barrick’s earnings before interest, taxes, and amortization by 11% next year.”

    “Mali, under interim President Assimi Goita, has increased pressure on western miners in a bid to raise its revenue share from gold mines. In the last two months, the junta has detained senior executives of western miners, including employees of these companies for alleged non-payment of mining taxes.” Source – https://www.msn.com/en-ca/money/economy/barrick-gold-seeks-arbitration-over-mali-gold-mine-dispute/ar-AA1w6s2W?ocid=socialshare

  • /

    Silver jewelry demand increasing

    ByVictoria
    0 Comments

    Industrial silver demand set a record last year, but despite the increase in offtake, overall silver offtake declined by 3 percent to 1.16 billion ounces, primarily due to weak investment demand.

    Silver jewelry demand grew by 3 percent to 208.7 million ounces in 2024.

    The Silver Institute reported that improving exports to key Western countries also lifted silver jewelry demand.

    Growth in demand for silver jewelry will likely contribute to increasing overall demand, putting further pressure on already limited silver supplies.

    Source – Money Metals