Putting tariffs on the world’s largest silver producer, Mexico, and a bullish seasonal window has woken the silver bulls.
Silver is showing strong signs of bullish momentum, supported by seasonal demand, a favorable technical picture, and a fundamental catalyst in the form of tariffs on Mexico and Canada.
Source – Barchart / Written by Don Dawson
The decision follows a settlement with the Malian Government over its 2023 mining code, which has reduced the risk of disruption.
B2Gold CEO Clive Johnson said: “From a B2Gold perspective, we have seen a reduction in risk since the signing of our settlement agreement.”
“We have expatriate employees that move in and out of the country regularly, including some of the mine management, so there is no reason to think that any detention would ever be contemplated as it relates to B2Gold,” Johnson added.
Source – Global Data / Reuters reported
Arizona Sonoran Copper Company has successfully closed a public offering, raising C$51.75m ($37.6m) through the issuance of 25,875,000 common shares.
This includes 3.3 million shares from the full exercise of the over-allotment option by underwriters. Priced at C$2 per share, the offering is a strategic move to secure financial stability for the company’s upcoming projects.
Source – Mining Technology
Gold rose after President Donald Trump delivered on threats to hit Canada and Mexico with sweeping tariffs and doubled a charge on China, spurring swift reprisals.
Bullion climbed above $2,915 an ounce as Beijing announced 15% duties on some American farm goods, including cotton. Geopolitics was also in the spotlight after the US paused all military aid to Ukraine.
Spot gold rose 0.8% to $2,914.45 an ounce at 10:45 a.m. in London. The Bloomberg Dollar Spot Index fell 0.2%. Silver and palladium gained, while platinum was little changed.
Source – Bloomberg
Gold prices edged lower on Thursday, weighed down by easing geopolitical tensions in the Middle East and continued uncertainty over the Federal Reserve’s interest rate trajectory.
Spot gold fell 0.5% to $3,316.47 per ounce, as of 0933 a.m. EDT (1333 GMT). U.S. gold futures slipped 0.4% to $3,329.20.
Palladium lost 2.5% to $1,084.41. Platinum climbed to its highest level since September 2014, adding 1.7% to $1,377.62.
Spot silver was up 0.2% to $36.39.
Source – Reuters
Gold prices have steadied after surging to a record high amid early signs of consolidation following the rally built on fears around U.S. President Donald Trump’s trade policies.
The precious metal eased to close at $3,287.72 an ounce on Wednesday, down 6.1% from the all-time peak of $3,500.05 hit on April 22.
Total gold investment flows sky-rocketed by 170% in the first quarter of 2025 from the same period a year earlier, reaching 552 metric tons, the highest since the first quarter in 2022, the WGC said in its report on Wednesday.
Source – Reuters
They have been working flat out to do what the Bank describes as “digging out” gold bars for delivery to traders who’ve seized on a rare arbitrage opportunity thrown up by speculation that Donald Trump will impose tariffs on the precious metal, alongside a raft of other imported goods.
The Bank’s vault keepers are busier than they’ve been in years, logistics companies are working overtime, and refineries are booked out for months with orders to recast gold bars from London into a form that can be delivered into the US futures market.
“What’s happening in the London market is a short term logistical thing, but it’s having real consequences,” said John Reade, senior market strategist at the World Gold Council, the industry lobby group. “There’s not as much gold in London as normal, but again, there’s still lots there. And once it can get out from behind the Bank of England, then everything should calm down.”
Source – Bloomberg
