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    Weak dollar, gold up nearly 1%

    ByVictoria
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    US Treasury Secretary Scott Bessent offered support for Jerome Powell amid regular attacks from President Donald Trump, saying he sees no reason for the Federal Reserve chair to step down. Trump has maintained his criticism of the Fed chief and stressed his belief that the central bank’s benchmark rate should be 3 percentage points lower.  

    Political interference and a potential attempt to oust of Powell before his term ends is throwing the Fed’s independence into question. That’s negative for the dollar, and is helping boost haven demand for gold. 

    “The USD is losing its store of value function” and bullion is exceptionally well-placed to benefit, TD Securities senior commodity strategist Dan Ghali said in a note.  

    Spot gold was up nearly 1% to $3,430.05 an ounce at 2:16 p.m. in New York. The Bloomberg Dollar Spot Index fell 0.4%. Silver and palladium advanced while platinum slipped.

    Source – Bloomberg

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    200% surge over 6 years in Gold prices

    ByVictoria
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    Over the past six years, gold prices in India have risen by an astounding 200 per cent, skyrocketing from Rs 30,000 to over Rs 1,00,000 per 10 grams between May 2019 to June 2025, analysts said on Monday. Motilal Oswal Financial Services Limited (MOFSL) reinstated its bullish outlook on the precious metal, considering geopolitical situations.

    “We have been fortunate to be part of the gold uptrend since 2019. Following our long-standing bullish stance on the yellow metal, we are now taking a cautious pause in July 2025 — without completely turning away from it,” said Manav Modi.

    Source – Zee News

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    Gold and Silver gained

    ByVictoria
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    Gold prices gained over 1% on Monday as the dollar and U.S. bond yields weakened amid uncertainty over trade talks ahead of a U.S. deadline of August 1 for countries to strike deals or face more tariffs.

    Spot gold was up 1.2% at $3,390.79 per ounce at 9:52 ET (1352 GMT). U.S. gold futures were up 1.3% to $3,402.40.

    Spot silver gained 1.8% to $38.86 per ounce, platinum rose 2.2% to $1,453.17 and palladium was 3.5% higher at $1,284.46.

    Source – Reuters

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    Vizsla Silver Corp. is a Strong Buy

    ByVictoria
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    Vizsla Silver Corp. (VZLA) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates — one of the most powerful forces impacting stock prices — has triggered this rating change.

    The Zacks rating relies solely on a company’s changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure — the Zacks Consensus Estimate.

    For Vizsla Silver Corp., rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company’s underlying business. And investors’ appreciation of this improving business trend should push the stock higher.

    Source – Zacks.com

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    Northern Superior Resources announcement

    ByVictoria
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    Northern Superior Resources Inc is pleased to announce that it has completed the acquisition of the Hazeur, Monster Lake East, and Monster Lake West Properties originally announced on June 16, 2025 (the “ Transaction “), expanding its total land position in the Chibougamau Gold Camp from 60,016 hectares to 68,522 hectares.

    The Company sees potential to expand the Philibert deposit along strike to the west, particularly within multiple shear zones such as the Red Fox Zone, which historically has seen the most drilling.

    “This acquisition is a major step forward in unlocking the broader potential of the Chibougamau Gold Camp. Not only do these new properties host known gold mineralization and compelling exploration upside, but they also extend key geological structures directly linked to the Philibert deposit. Combined with recent drilling success and a growing resource base, Philibert is rapidly emerging as a cornerstone asset in a camp now coming into prominence on the global stage,” said Simon Marcotte, President and Chief Executive Officer.

    Source – USA Today

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    BHP Group may sell Australian operations

    ByVictoria
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    Mining giant BHP Group flagged rising costs and delays at a giant potash project in Canada and said it may sell its Australian nickel operations, as it reported record annual iron ore and copper production.

    The company said Friday it faces rising costs at the Jansen potash project in Canada’s Saskatchewan province, its only major development currently under construction.

    The company said it is also reviewing Jansen’s second stage, which is roughly 11% complete. BHP may delay first production from that expansion by two years, to fiscal 2031, because it reckons there might be more potash supply coming into the market over the medium term than previously envisaged.

    BHP said it expects to produce between 1.8 million and 2.0 million tons of copper in the year ahead.

    Source – The Wall Street Journal

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    BHP and Canada’s Lundin Mining extend mining time

    ByVictoria
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    Vicuña Corp, a joint venture of Australia’s BHP and Canada’s Lundin Mining (LUN.TO), opens new tab, on Thursday said it was extending the useful life of its Josemaria copper, gold and silver project in Argentina by six years.

    It attributed the longer useful life of the mine, now 25 years instead of 19 years previously, to higher levels of exploitable resources.

    Vicuña also predicted an ore processing rate at the site, located in Argentina’s north-western San Juan province, near the Chilean border, at 175,000 metric tons per day.

    Source – Reuters

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    Cerrado Gold production results

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    Mark Brennan, CEO and Chairman commented, “While Q2 results were modestly lower than our expectations as the heap leach continues to ramp up to its fully expanded capacity, we continue to be confident in our full year expectations as the underground operations ramp-up in H2/25. Cerrado also continued to progress both the Lagoa Salgada project and the Mont Sorcier projects towards completion of feasibility studies by Q3/2025 and Q1/2026 respectively, which we believe should demonstrate substantial value being unlocked by Cerrado’s development projects.”

    Source – USA Today

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    Gold, Silver, and Platinum down

    ByVictoria
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    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

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    Copper production up 11%, Antofagasta PLC

    ByVictoria
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    Chilean miner Antofagasta said on Wednesday its copper production rose 11% to 314,900 metric tons in the first half of 2025, on higher production from its two concentrators.

    The London-listed company left guidance for full-year copper output unchanged between 660,000 and 700,000 tons.

    Source – Reuters