McEwen Mining Inc. stock
Source – MSN
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Gold up 170% in first quarter
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
Peru copper output down to 2.74 million tonnes
Peru’s mining ministry on Friday said copper output in 2024 amounted to 2,736,150 metric tons, down 0.7% from 2023. The drop marked the copper giant’s first decline after four straight years of recovery following the pandemic.
Source – Mining.com
Gold close to reaching $3000
It appears that the Federal Reserve is on hold when it comes to moving interest rates until midyear, said Peter Grant, vice president and senior metals strategist at Zaner Metals. But “most of the other major central banks remain in easing mode, providing an additional tailwind for gold.” Ongoing trade and geopolitical uncertainty suggest upside potential to the psychologically important $3,000 level, he said.
Source – Market Watch
Kaiser Reef to acquire Henty gold mine
Australia-based Kaiser Reef has entered into a definitive agreement with Catalyst Metals to acquire the Henty gold mine and associated exploration tenements in north-western Tasmania in a deal valued at A$31.6m.
Under the deal, Kaiser will make an upfront payment of A$15m and issue A$16.6m in shares, offering Catalyst a 19.99% stake in the company.
Following the acquisition, Kaiser’s enterprise value will reach A$67m, encompassing three gold mines, including one under care and maintenance and two gold processing plants.
“Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst’s continued involvement and exposure to the upside at Henty, both as Kaiser’s major shareholder and through their board representation.”
Source – Yahoo! Finance
Gold prices above $3000 for the second time
Gold prices scaled a record peak above the crucial $3,000-mark on Tuesday for the second time in a week, as investors sought cover from economic concerns fuelled by U.S. President Donald Trump’s tariff policies.
Spot gold rose 0.2% to $3,006.88 an ounce as of 0525 GMT after hitting a record high of $3,016.92 per ounce earlier in the session.
“Gold is moving higher on account of a weaker dollar and continued tariff uncertainties… With Gold at record highs there is a lot of technical and chart based buying that kicks in since there is no resistance apparent on the charts,” said Marex analyst Edward Meir.
Spot silver firmed 0.1% to $33.85 an ounce, platinum added 0.2% to $1,002.50 and palladium rose 0.4% to $968.96.
Source – Reuters
Gold gains, Dollar slipped
Gold futures posted their second consecutive strong gain on Tuesday, rising 3% in the two days since Moody’s downgraded its U.S. credit rating and amplified concerns over the debt and deficit spending.
The dollar slipped again, weighed down in part by cautious remarks about the economy by Federal Reserve officials and by President Trump’s failure so far to convince Republican holdouts in the U.S. House to support his sweeping tax and spending bill.
“Investors are reassessing the long-term outlook for U.S. sovereign risk. As such, safe-haven assets like gold could experience heightened demand,” Quasar Elizunda of Pepperstone said in a note.
Source – Seeking Alpha
Moody’s Corporation – (MCO) a New York-based company that owns Moody’s Investors Service that rates creditworthiness of companies, governments, and fixed income debt securities, and Moody’s Analytics.