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New Dehli gold and silver hit record levels

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Gold and silver prices hit fresh record levels on Monday, rallying Rs 1,300 each, tracking strong trends in the global markets amid uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the Federal Reserve.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity, extending gains for the fourth day in a row, rallying Rs 1,300 to hit a fresh peak of Rs 90,750 per 10 grams.

Source – Press Trust of India

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India’s Hindustan Zinc sees strong 2025 growth on higher volumes, CEO says

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“We have gone through all our shutdowns and proprietary maintenance and all that in the first three quarters. We should be able to produce a stellar fourth quarter based on our numbers,” Misra told Reuters in an interview.

Misra expects zinc prices to rise to $2,850-$2,950 a ton in the coming days from $2,800 currently, and silver to trade between $30 and $31 per ounce.

Source – Reuters

South African Rand strong

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South Africa’s rand strengthened on Monday, as gold hit a fresh high and optimism grew over the prospect of an agreement between the two biggest government partners on the budget.

At 0728 GMT, the rand traded at 18.2375 against the dollar, about 1.1% stronger than its previous close.

Gold prices touched an all-time high on Monday as investors stressing over a global trade war and economic slowdown from the world’s biggest economy turned towards the safe-haven asset. South Africa is a major producer of the precious metal.

Source – Reuters

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Vizsla Silver Corp stock to “Outperform”

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BMO Capital Markets has recently initiated Vizsla Silver Corp (VZLA) stock to Outperform rating, as announced on January 24, 2025, according to Finviz.

Over the last six months, the stock has risen by 15.79%, and it has gained 6.28% in the previous three months. Currently, VZLA is trading at 9.64%, 16.82%, and 18.91% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.

Source – BOV News

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

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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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Gold set for eighth weekly gain

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Spot gold shed 0.4% to $2,927.95 an ounce by 1204 GMT. Bullion has gained around 1.6% this week after rising to a record $2,954.69 on Thursday.

“The non-stop rally since December remains unchallenged unless prices drop to around $2,850,” said Ole Hansen, head of commodity strategy at Saxo Bank.

“Gold has been displaying resilience with short-lived retracements, as lingering U.S. trade uncertainties reinforce its appeal as a hedge,” IG market strategist Yeap Jun Rong said.

Spot silver was flat at $32.92 an ounce, and palladium dipped 0.3% to $974.75. Both metals were headed for weekly gains.

Platinum shed 0.2% to $976.80 and eyed a weekly decline.

Source – Reuters

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