Gold

Central banks worldwide are on track to buy 1,000 metric tons of gold in 2025, which would be their fourth year of massive purchases as they diversify reserves from dollar-denominated assets into bullion, consultancy Metals Focus said.

The price rally has so far kept purchases by central banks, a crucial category of demand, unaffected with the first-quarter buying in line with the 2022-24 quarterly average, Metals Focus said in its annual report on Thursday.

Jewelry demand for bullion has been hit hard by the price rally. Gold jewelry fabrication fell 9% to 2,011 tons in 2024 and is expected to deliver a 16% slump this year with India and China accounting for much of this decline.

Source – Reuters

The price of gold in Pakistan has seen a sharp increase, with rates climbing by Rs 4,300 per tola, according to the All Pakistan Gems and Jewellers Association.

Following the rise, the new price of gold per tola now stands at Rs 358,400. Similarly, the price of 10 grams of gold has gone up by Rs 3,687, reaching Rs 307,270.

Source – Daily Times

RS – means Relative Strength in finance.

The other meaning for Rs is for rupees. Rupees are used in India and Pakistan. Other (smaller) countries like Sri Lanka, Mauritius, Nepal, and Seychelles also use rupees as their currency.

A Malian court has adjourned to Thursday a hearing on whether to put Barrick Mining’s Loulo-Gounkoto gold complex under provisional administration, the court’s registry office and one of the lawyers involved told Reuters on Monday.

Granting the request would represent a major escalation of a dispute between the West African country and the Canadian miner after operations at the complex were suspended in January in a dispute over taxes and ownership.

Barrick has said it can only resume operations when the Malian government removes restrictions on gold exports.

The government has renegotiated agreements with other multinational miners under the new mining law. Four Barrick employees have been detained since November 2024 and an arrest warrant was issued for Chief Executive Mark Bristow in December 2024.

Source – Reuters

After a strong run for precious metals, gold mining shares still look undervalued.

That’s the view from JP Morgan’s latest note on listed producers, which argues there’s room for substantial upside, especially if its bullish forecast for the precious metal proves right.

Its commodities team is pencilling in a price of $4,100 an ounce for 2026. That’s well above current spot levels of $3,320 and would mark a new all-time high.

Based on that estimate, JP Morgan sees around 40–50 per cent upside to average analyst expectations for earnings before interest, tax, depreciation and amortisation across the sector.

Source – This Is Money

Gold prices dropped more than 1% on Friday as markets digested the latest tariff developments, while a softer inflation report in the US kept hopes for a rate cut alive.

Spot gold fell back below $3,300 an ounce during the morning session, trading at $3,281.24 for an intraday gain of 1.1% by 10:45 a.m. ET. US gold futures also fell 1.1% to $3,307.40 an ounce in New York.

“Gold, at this point in time, is pulling back off these recent highs and is in a consolidation period,” said David Meger, director of metals trading at High Ridge Futures

“Gold is under slight pressure as we’re seeing a little lesser need for safe haven, but it does look like there is going to be significant pushback from Trump and that will eventually help prices.”

Source – Mining.com

In 1979, a couple using a metal detector in the Kalgoorlie Goldfields of Western Australia located a massive gold nugget. Known today as the “Golden Beauty,” the nugget weighs in at nearly 10 pounds.

It is currently on the auction block. According to Heritage Auctions, the opening bid was $400,000.

At the current spot price, the gold is worth around $481,800.

“Gold always has been enormously popular, in part because of its pure value and beauty, but also because it is exceedingly rare,” Heritage Auctions vice president of nature and science Craig Kissick said.

Source – Money Metals

The safety of Germany’s gold reserves held overseas and in New York in particular, until recently mainly a talking point for the country’s far-right party and gold bugs, is becoming a matter of public debate with Donald Trump back in the White House.

“For gold reserves, diversification is key. Having all eggs in too few baskets is never advisable,” Ferber said.

Source – Reuters