The silver market has plunged during trading on Friday in the early hours, but it looks like the $35.50 region is in fact going to continue to offer support, as it was previous resistance, so you would anticipate a little bit of market memory here.
Source – FX EMPIRE
Futures are up 1.7% at $3,350.60 a troy ounce and on track for weekly gains of nearly 4%.
“Without a fundamental shift in U.S. fiscal policy, the implications of rising borrowing costs and widening fiscal deficits means the U.S. is on an unstable fiscal policy path, which could lead to heightened market volatility,” says Fawad Razaqzada, analyst at Forex.com.
Source – The Washington Street Journal
Shares of Barrick Gold Corp rose 2.76% to C$24.55 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index rising 1.15% to 25,569.84.
Source – Market Watch
China’s gold consumption fell 5.96% year-on-year to 290.492 tonnes in the first quarter of 2025 as high gold prices continued to curb demand for gold jewellery, the China Gold Association said on Monday.
Source – Reuters
Gold prices have fallen almost 10% from a record high just above $3,500 per ounce in April as a de-escalation in U.S.-China trade tensions punctured momentum, but analysts are sticking with a bullish outlook due to strong underlying support for the metal.
Spot gold was trading around $3,180 an ounce on Friday, leaving prices on track for their worst week in six months.
“Gold prices are more likely to rise than to fall from this stage onwards as other factors like central bank demand and very strong investor demand from China are not going away anytime soon,” said Nitesh Shah, commodities strategist at WisdomTree.
Source – Reuters
Under this agreement, Hudbay will subscribe for 11,852,064 common shares of Arizona Sonoran at C$1.68 per share.
Arizona Sonoran president and CEO George Ogilvie said: “We are pleased and appreciative to welcome this further endorsement of our project and the go-forward plan by the team at Hudbay. It is the company’s objective to develop Cactus to be a significant producer of copper cathodes for direct use by industry in the state of Arizona and the larger US supply chain.
“We welcome Hudbay, a mid-tier base metal producer with decades of base metal successes in the Americas and a strong existing footprint in Arizona, as a larger and increasingly engaged shareholder, able to lend its experience and expertise as we advance and develop Cactus.”
Source – Global Data
Fort. Knox’s massive reserve has reportedly been valued at $425 billion according to the New York Post, with the rest of the United States’ highly sought-after metal being stored in the Federal Reserve Bank of New York.
Rand Paul said he has tried to get his eyes on the Ft. Knox gold for 10 years “to make sure it’s all there.”
Source – Fox News
DOGE – Department of Government Efficiency
