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

Central banks are expected to help keep gold’s stunning rally going this year with buying aimed at further diversifying reserves away from the dollar due to risks stemming from U.S. President Donald Trump’s policies.

Spot gold hit its latest record at $3,167.57 a troy ounce on Thursday for a gain of 19% since the start of 2025 and a hefty 71% rise since the end of 2022.

“Emerging market central banks currently hold around 10% of their assets in gold. They should really hold 30% of their assets in gold,” said BofA commodity strategist Michael Widmer.

“From the central banking perspective (uncertainty) means less incentive to add Treasuries into portfolios and more incentive to actually de-dollarise it,” he said.

Source – Reuters

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

A landslide at an informal gold mine in the Democratic Republic of Congo where thousands of people were working has left an unknown number of people trapped underground since Sunday.

Twelve people have been rescued, Mr. Rubabura said, adding that the number of missing would be released only once the search was over.

The Lomera site is an artisanal mine, meaning it is not operated by a mining company with professional equipment but by workers who use basic tools to extract ore, often in dangerous conditions.

On Tuesday, M23 members walked around the site issuing instructions to those who remained, telling them not to film or speak to journalists. There was no sign that a serious search for survivors was underway.

Source – New York Times