|

John Paulson predicts gold to reach $5000

ByVictoria

Central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, billionaire investor John Paulson said in an interview during which he reinforced his commitment to U.S. mining projects

Already the largest shareholder in Idaho gold and antimony developer Perpetua Resources, Paulson last week bought a 40% stake in NovaGold’s Donlin gold project in Alaska from Barrick.

“It’s a well-informed prediction. I think that’s a reasonable number,” he said.

“As central banks and people look to put their money in a more stable source… I think gold will increase its position in the world,” he added

Source – Reuters

Similar Posts

  • /

    Copper’s early-year rally leaves investors unimpressed

    ByVictoria
    0 Comments

    The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.

    Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.

    Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.

    The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.

    Source – Reuters

  • /

    Gold steady, tariff announcement

    ByVictoria
    0 Comments

    Spot gold was at $3,026.85 an ounce at 1131 GMT. U.S. gold futures edged 0.4% higher to $3,032.40.

    “A modestly weaker dollar is probably giving gold a little bit of a tailwind at present,” said Ross Norman, an independent analyst.

    “A worse-than-feared tariff announcement on April 2 could give bullion bulls a shot in the arm towards striving for the $3,100 mark,” said Han Tan, Exinity Group’s chief market analyst.

    “Should risk-on sentiment make a comeback, assuming the U.S. tariff threats prove to be more bark than bite, that could see fleeting forays below $3,000,”

    Spot silver firmed 0.4% to $33.16 an ounce, platinum steadied at $975.55, and palladium was flat at $957.95

    Source – Reuters

  • / / / /

    Platinum, palladium likely to lag gold and silver again – UBS

    ByVictoria
    0 Comments

    Prospects for platinum group metals in 2025 look similar to previous years, UBS says, adding that it expects platinum to outperform palladium , and both to lag gold and silver once again.

    The investment bank, meanwhile, has a forecast of a 25% return for silver, with prices trading in a $36-38/oz range.

    “Hence, we hold a more nuanced outlook for the overall precious metal sector, with a more attractive risk-reward in gold/silver versus platinum/palladium. Within the platinum group of metals, platinum remains favored over palladium, considering the higher volatility and lower liquidity of the latter,” analysts added.

    Source – Seeking Alpha

  • /

    London Metals Exchange, Mixed signals in precious metals

    ByVictoria
    0 Comments

    Zinc, the biggest loser in the LME complex, is currently trading 4.8% lower than at the start of the year.

    Meanwhile, tin prices have increased by 13.5% in the first few weeks of the year, making it the biggest winner.

    Copper refining grew as expected at 4.2%, but mine production surprised at 2.3%, 0.5% higher than the ICSG September forecast.

    The supply of refined copper is under threat due to mine production, which has put downward pressure on processing fees in copper smelters, according to Commerzbank.

    The lead market experienced a minor oversupply due to a substantial increase in mine production.

    This increase, just under 2%, was fueled by significantly higher supply in the US, Australia, Peru, and Mexico.

    Source – Invezz

  • / /

    Precious metals fall, Gold eased

    ByVictoria
    0 Comments

    Gold prices slipped more than 1% on Tuesday, as optimism over trade deals between U.S. and its trading partners weighed on safe-haven flows, with a firmer U.S. dollar and rising Treasury yields adding further pressure.

    Spot gold eased 0.8% to $3,307.16 per ounce, as of 01:49 p.m. EDT (1749 GMT), after hitting its lowest in over one week earlier in the session. U.S. gold futures settled 0.8% lower at $3,316.9.

    “Focus is on trade as the July 9 deadline nears, with the Trump administration ramping up pressure. But some optimism related to trade deals is fuelling risk-on sentiment, keeping gold subdued,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver lost 0.3% to $36.64 per ounce, platinum dropped 0.8% to $1,359.90, while palladium was flat at $1,111.36.

    Source – Reuters