Silver Prices Jan 9,2025
Source – Money Metals
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New Dehli gold and silver hit record levels
Gold and silver prices hit fresh record levels on Monday, rallying Rs 1,300 each, tracking strong trends in the global markets amid uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the Federal Reserve.
According to the All India Sarafa Association, the precious metal of 99.9 per cent purity, extending gains for the fourth day in a row, rallying Rs 1,300 to hit a fresh peak of Rs 90,750 per 10 grams.
Source – Press Trust of India
ZiJin Mining boosting gold and copper
The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028
“Our stated goal is to become a green, high-tech, leading global company,”
“By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining
“We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said.
Source – Kitco NEWS
ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.
Gold Holds Near Record, Silver rallied
Silver climbed as much as 3.1% to exceed $33 an ounce, while gold headed for a seventh weekly gain — the longest run since August 2020.
The president has already imposed 10% levies on Chinese goods and plans to slap 25% duties on all US steel and aluminum imports next month.
Spot silver rose 2.9% to $33.284 an ounce by 1:20 p.m. in London, taking this week’s gains to 4.6%. The Bloomberg Dollar Spot Index fell 0.2%. Gold, platinum and palladium were little changed.
Source – Bloomberg
Gold, Silver, and Platinum down
Gold prices eased on Thursday, pressured by a firmer U.S. dollar, as investor worries eased temporarily after President Donald Trump said he did not plan to oust Federal Reserve Chair Jerome Powell.
Spot gold was down 0.6% at $3,335.77 per ounce, as of 0958 GMT. U.S. gold futures fell 0.8% to $3,331.30.
“Yesterday, gold prices rose on the back of these rumours, which were unfounded. Since the rumours were quelled, prices have been falling,” said Nitesh Shah, commodities strategist at WisdomTree.
“I think if we come out of (the tariff deadline of) August 1 with much better trade deals, then that could be gold price-negative,” Shah said.
Spot silver fell 0.4% to $37.77 per ounce. Platinum lost 0.3% to $1,412.78 and palladium eased 0.6% to $1,223.03.
Source – Reuters
Augusta Gold Corp. $1.70 per share
Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (“Augusta Gold” or the “Company”) is pleased to announce that it has entered into a definitive merger agreement (the “Agreement”) with AngloGold Ashanti plc (“AngloGold Ashanti”) and certain of its affiliates, pursuant to which AngloGold Ashanti will acquire all of the Company’s issued and outstanding shares of common stock at a price of C$1.70 per share of common stock (the “Price”) in cash (the “Transaction”).
Richard Warke, Executive Chairman of Augusta Gold, commented, “The offer from AngloGold Ashanti represents a compelling offer to stockholders, locking in a meaningful premium and immediate liquidity as compared to waiting for the Reward Project to commence construction and then produce by mid-2027. Constructing the Reward Project would require additional dilution to raise the required equity, substantial time for construction, and time to get the mine operating at capacity. Taking the foregoing factors into consideration, I believe that the offer from AngloGold Ashanti represents a clearly superior path forward for stockholders.”
Source – Cision
Copper settled above $5
Copper’s rise is being driven “solely by supply concerns surrounding the potential for universal tariffs to be placed on all imports of copper into the U.S.,” said Natalie Scott-Gray, a senior metals demand analyst at StoneX. The U.S. is “heavily reliant on foreign copper, with imports accounting for [around] 45% of demand.”
Copper prices have climbed more than 23% in 2025 through Monday, according to Dow Jones Market Data.
Source – Market Watch