Riversgold Ltd has exercised its option to acquire an 80% interest in the Kalgoorlie Gold Project’s Northern Zone in Western Australia after meeting the required A$600,000 minimum exploration expenditure.
Exploration efforts have identified a significant blind porphyry gold system, with widths of up to 600 metres and mineralisation extending beyond 400 metres in depth.
Source – Proactive Investors
Over the last two months, 12.9 million troy ounces (401 metric tons) of gold were delivered to COMEX-approved warehouses, raising stocks there by 73.5% to 30.4 million ounces, the highest since July 2022.
According to the Swiss data, gold deliveries from the country to the U.S. rose to 64.2 tons in December from 3.3 tons in the last month of 2023. In March 2022, when global markets were grappling with immediate consequences of Russia’s invasion of Ukraine, Switzerland exported 81.5 tons of gold to the U.S.
Source – US News / Reuters
Gold price have risen from Wednesday’s record close, propelled by fears that Trump’s tariffs will continue to hammer stocks and expectations that central banks will continue to hoard the precious metal. Gold futures for April delivery settled Wednesday at $3,139.90 a troy ounce, the latest notch in their 19% climb this year.
Source – The Wall Street Journal
Spot gold fell 0.2% to $2,634.52 per ounce by 2:27 a.m. ET (1927 GMT). U.S. gold futures settled 0.3% lower at $2,647.40.
“Bond yields are back up again, placing pressure on gold,” said Nitesh Shah, commodity strategist at WisdomTree.
“There’s speculation that Trump is going to pull back on tariffs … If (the prices of) commodities go up, inflation’s going to remain higher for longer,” Phillip Streible, chief market strategist at Blue Line Futures, said.
Source – Reuters
Sales by the United States Mint of the Proof 2025-W American Eagle silver dollar, priced at $95 each, are scheduled to begin at noon Eastern Time Jan. 9.
Source – Coin World / written by Paul Gilkes
A collapse at a copper mine in Chile killed one worker and left five trapped underground, authorities said on Friday, forcing Chile’s state mining company to suspend operations in the affected area of the world’s largest underground copper deposit.
Nine other mine workers suffered injuries, said Chile’s National Copper Corporation, known as Codelco, describing the incident as the result of “a seismic event.”
The U.S. Geological Survey reported a magnitude 5 earthquake in an area of central Chile where Codelco’s El Teniente mine is located, at 5:34 p.m. local time on Thursday. Authorities said they’re still investigating whether it was a naturally occurring earthquake or whether mining activity at El Teniente caused the quake.
“We are making every effort to try to rescue these five miners,” said Andrés Music, general manager of El Teniente. “The next 48 hours are crucial.”
Source – The Associated Press
Praying for these people to be rescued. -Victoria
Major stock indexes rallied, the dollar gained against the euro and other currencies while safe-haven gold dropped on Wednesday as investors grew optimistic about a possible de-escalation in the trade war between the U.S. and China.
“There seems to be some light at the end of the tunnel here in terms of the trade war,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
The euro was last down 0.36% against the dollar at $1.1379. Against the Japanese yen, the dollar strengthened 0.49% to 142.28.
U.S. Treasury yields declined after the U.S. administration’s signal of a potential respite in the U.S.-China trade war and Trump’s softening stance on Powell.
Source – Reuters