Platinum demand outpaced supply by 995,000 ounces last year. That was 46 percent higher than forecast.
Meanwhile, platinum jewelry sales grew by 8 percent in 2024, and investment demand took off, rising by 77 percent.
The WPIC forecasts that jewelry demand will reach 2 million ounces this year, an increase of 2 percent year-on-year.
Source – Money Metals
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
Founding Member Spotlight: Harlan J. Berk, Ltd.
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With more than 50 years of expertise, HJB offers a full range of numismatic services, including:
If you’d like to visit their listing please visit the Illinois page and give them a call today or if you’re in the area head on over and meet the team.
-V.
“While traditionally inflation and real yields have been the main drivers of gold prices, recently central bank buying has emerged as the primary catalyst behind the current gold price increase,” according to a recent research note by Bank of America’s Global Commodity Research’s Franciso Blanch and Irina Shaorshadze.
George Milling-Stanley, chief gold strategist at State Street Global Advisors, also believes central-bank buying will keep gold humming this year, but he also sees two additional drivers.
Source – Fox Business
Gold eased on Wednesday as risk appetite improved after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline, though a soft dollar and lower Treasury yields capped losses for greenback-priced bullion.
Spot gold was down 0.2% at $3,423.44 per ounce, as of 0136 GMT, after hitting its highest point since June 16 earlier in the session. U.S. gold futures also slipped 0.2% to $3,437.70.
Trump said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country.
“If further trade deals are signed ahead of August 1, this could further boost general risk appetite and reduce the demand for gold,” CM Trade Chief Market Analyst Tim Waterer said.
“But if the USD remains pressured this will keep a return to $3,500 a viable near-term prospect for the precious metal.”
Spot silver fell 0.3% to $39.15 per ounce, platinum dropped 0.3% to $1,437.83 and palladium slipped 0.8% to $1,264.96.
Source – Reuters
China’s gold reserves rose to 73.61 million fine troy ounces at the end of February from 73.45 million at the end of January, as the central bank kept buying the precious metal for a fourth straight month.
“The PBOC’s purchases are an important factor underpinning gold, so a continuation of its buying in February could help to build further strength behind the gold price,” said Frank Watson, market analyst at Kinesis Money.
“Unlike investors, central banks are relatively price insensitive to gold and tend to buy as part of a restructuring of their reserve holdings,” Watson said.
Source – Reuters
Gold prices rallied on Tuesday, regaining ground after a slight pullback at the start of March. Spot gold was up 0.4%, reaching $2,900.78 an ounce as of 7:30 AM UTC. The rally was supported by a weakening US dollar spot index that has dropped to 103.5, a 24-hour 0.2% downtick.
Gold’s more “resilient” performance against the dollar is giving investors more incentives to turn against Bitcoin, with its price falling by more than $15,400 over the past month.
“Now that Bitcoin fell below $77K, it’s down 30% from its January record high,” Schiff posted on X. “It’s hard to see the rationale for the U.S. government holding Bitcoin as a reserve asset when it can lose that much market value so quickly. The rationale will be even harder to see when it’s down 50%.”
Source – Cryptopolitan
