Gold

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

News is from 1/14/2025
This is a follow up on Barrick Gold and it’s current mining situation.

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the company remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Additionally, the interim attachment order on the gold has now been executed by the Malian government by moving the existing gold stock from the site to a custodial bank, further preventing the shipment and sale of the gold.

As a result, Barrick has regrettably initiated the temporary suspension of operations while it continues to work towards a resolution.

Barrick remains committed to constructive engagement with the Malian government and all stakeholders to find an amicable solution that ensures the long-term sustainability of the Loulo-Gounkoto mining complex and its vital contribution to Mali’s economy and communities.

Source – Barrick

“With a stronger dollar and Treasury yields, it’s hard for gold to continue to move higher,” said Bob Haberkorn, senior market strategist at RJO Futures.

“(Gold) bulls’ next upside price objective is to produce a close above solid resistance at the contract high of $2,826.30,” Jim Wyckoff, senior market analyst at Kitco Metals, said.

Source – Reuters

Bullion edged 0.2% lower to around $2,750 an ounce, roughly just $40 short of its all-time high and still set for a fourth straight weekly gain.

The president has identified China, the EU, Canada and Mexico as potential targets for import levies, though there is uncertainty over whether he will follow through with the threats. 

Gold traded at 2,751.44 an ounce as of 10:48 a.m. in London. Silver, platinum and palladium fell. The Bloomberg Dollar Spot Index was relatively unchanged.

Source – Bloomberg

At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741

The US Dollar Index (DXY), which measures the performance of the Greenback against a basket of six peers and usually correlates inversely to Gold, rises 0.08%, up at 108.16.

Gold prices are set to challenge record high of $2,790 amid ongoing US trade policies uncertainty. 

Source – FXSTREET

The most active futures on gold are currently trading at $2745.10, up $27.30 or 1% from a day earlier. That level is just about 2% shy of its all-time settlement high of $2800.80 marked on Oct. 30. If the contract closes at current levels, it would be the highest close since last month, according to the Dow Jones Market Data.

“Gold remains the consummate hedge for investors worried about inflation or growth,” wrote Jared Woodard and the team from BofA securities on Tuesday. Gold was labeled as BofA’s “highest conviction investment ideas for 2025.”

Source – BARRON’S

BofA securities – Bank of America Inc., previously Bank of America Merrill Lynch (BAML) is an American multinational investment banking division under the auspices of Bank of America.