Platinum Prices Jan 9,2025

Australia’s Gold Road Resources rejected a $2.1 billion takeover proposal from Gold Fields, calling the offer opportunistic following a drop in quarterly production.

The all-cash proposal was made earlier this month against a backdrop of surging gold prices, which recently surpassed $3,000 a troy ounce for the first time as economic uncertainty fuels demand for the metal as a perceived safe haven.

“Gold Fields will continue to seek the engagement of the Gold Road board to consider the merits of the proposed acquisition and to advance the proposal,” said Mike Fraser, chief executive of Gold Fields.

Source – Wall Street Journal

Investors are increasingly seeking safe-haven in hard assets like gold, silver, copper and platinum, historically viewed as stores of value in times of financial uncertainty, Saxo Bank’s Ole Hansen says in a note.

Source – Wall Street Journal

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Futures (in finance) – Are contracts to buy or sell a specific underlying asset at a future date.

Gold prices fell sharply by Rs 1,000 to Rs 98,400 per 10 grams in the national capital on Monday, amid a weak global trend and optimism surrounding a possible US-China trade agreement, according to media reports citing the All India Sarafa Association.

“Gold prices continued to decline as easing US-China trade tensions boosted investors’ risk appetite, reducing demand for safe-haven assets like bullion while a stronger dollar added downward pressure,” said Chintan Mehta, Chief Executive Officer of Abans Financial Services, as quoted in media reports.

“Rising geopolitical tensions could limit gold’s downside. As war risks escalate and new conflicts emerge, investors are likely to seek refuge in gold.”

Source – Kashmir Life

While U.S. tariffs and other factors have added fire to already hot demand for gold as an investment, the impact is different for gold jewellery, according to Andrew Naylor

“In markets like Dubai, this creates a two-fold effect: on one hand, you see stronger interest in gold as a safe-haven asset, on the other, high prices dampen jewellery demand.”

“There are no potential customers nowadays because of the gold prices,” said Fahad Khan, a sales representative at retailer Damas Jewellery.

“Higher gold prices are likely to dampen demand for jewellery, in a classic example of how the best cure for high prices is high prices,” said Russ Mould, investment director at AJ Bell.

Source – Reuters