MAG Silver Corp.’s Q4 2024 results showed lower production due to lower grades, but full-year production exceeded revised guidance, leading to strong financials.
MAG Silver Corp. (NYSE:MAG) is a precious metals mining company with a few assets in North America. It has some early-stage exploration projects in the United States and Canada but gets most of its value from its 44% ownership in the Juanicipio mine in Mexico.
Source – Seeking Alpha
They bought over 1,000 tonnes of the precious metal last year, double the average amount purchased in the previous decade, according to a European Central Bank report published on Wednesday.
The authors wrote that global holdings of gold by reserve banks increased to 36,000 metric tons in 2024, close to the record of 38,000 metric tons reached around 60 years ago.
Now, central bank reserves are composed of, on average, the dollar, at 46%, gold, at 20%, other currencies at 18%, and the euro at 16%.
Source – Business Insider
The price of gold in Pakistan has seen a sharp increase, with rates climbing by Rs 4,300 per tola, according to the All Pakistan Gems and Jewellers Association.
Following the rise, the new price of gold per tola now stands at Rs 358,400. Similarly, the price of 10 grams of gold has gone up by Rs 3,687, reaching Rs 307,270.
Source – Daily Times
RS – means Relative Strength in finance.
The other meaning for Rs is for rupees. Rupees are used in India and Pakistan. Other (smaller) countries like Sri Lanka, Mauritius, Nepal, and Seychelles also use rupees as their currency.
Gold prices edged lower on Thursday, weighed down by easing geopolitical tensions in the Middle East and continued uncertainty over the Federal Reserve’s interest rate trajectory.
Spot gold fell 0.5% to $3,316.47 per ounce, as of 0933 a.m. EDT (1333 GMT). U.S. gold futures slipped 0.4% to $3,329.20.
Palladium lost 2.5% to $1,084.41. Platinum climbed to its highest level since September 2014, adding 1.7% to $1,377.62.
Spot silver was up 0.2% to $36.39.
Source – Reuters
Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.
Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).
“We are in a state of unusual-heightened uncertainty… the catalyst is the tariffs and trade talks or threats that are going on around the world,” which is supporting the prices, said Paul Wong, market strategist at Sprott Asset Management.
Among other metals, spot silver, used in electrical components, shed 0.7% to $32.64 an ounce, which aims to challenge a 10-year high.
Platinum declined 2.1% to $966.65 and palladium eased 1.9% to $968.43.
Source – Reuters
Gold saw record investor inflows over the past four weeks, with investors scrambling for safe havens as the Trump administration’s tariff policies threatened to reorder global trade alliances.
Investors poured another $1 billion into gold in the past week, pushing four-week inflows to a record $9.9 billion, according to BofA Global.
Source – Market Watch
Attorneys representing the San Carlos Apache Tribe are asking the judge to grant an injunction pausing a land swap from the U.S. government to Resolution Copper
During the hearing, attorneys representing the tribe asked a federal judge to grant a temporary injunction pausing an upcoming land swap from the U.S. government to mining giant Resolution Copper.
Attorneys for the tribe argued May 7 that a pause is necessary as the Supreme Court considers whether to take up the case.
Source – ABC 15 Arizona
