The company’s stock has shown impressive momentum, delivering a 42% return over the past year according to InvestingPro data.
InvestingPro analysis indicates the stock is currently undervalued, with analyst price targets ranging from $3.25 to $3.77, suggesting significant upside potential.
Source – Investing.com
“Any country with gold reserves should be holding at least 11% of that amount in bitcoin reserves,” Armstrong posted to X in response to criticism of Trump’s plan for a national bitcoin reserve. “And I believe in the next five to 10 years bitcoin’s market cap will likely surpass gold. So these reserves should grow to exceed gold.”
“We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC.
Source – Forbes
The stock climbed 12% on Friday, its steepest one-day gain in nearly two months, outperforming the benchmark Kospi index’s 0.85% rise.
The extraordinary shareholders’ meeting had initially been called by private-equity firm MBK Partners and Korea Zinc’s major shareholder Young Poong, which have teamed up and increased their combined stake to more than 40% since September for control of the smelter, to reshape its board and management led by Chairman Yun B. Choi.
Source – The Wall Street Journal
The yellow metal’s February futures contract climbed $13.90, or 0.5%, to finish at $2,778.90 an ounce on Comex Friday.
“gold’s run to and past $3,000 is only held back by the strong U.S. dollar index,” said Peter Spina, president and founder of GoldSeek.com.
Source – Market Watch
“Gold extended gains on Friday, with spot gold in the domestic market hitting fresh all-time highs,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
“Prices in MCX are near record high as Trump trade policies and tariff plans created an uncertain environment in the market, which may boost safe-haven demand,” Deveya Gaglani, Research Analyst-Commodities, Axis Securities, said.
Comex silver futures also increased 1.53 per cent to USD 31.32 per ounce in the Asian market hours.
Source – Press Trust of India
The Amundi Physical Gold ETC is designed to track the performance of gold prices, offering an alternative to direct investment in the precious metal. The securities are backed by allocated gold stored in secure vaults, with each ETC security representing a specific entitlement to gold, which diminishes slightly each day to cover operational expenses at an annual rate of 0.12%.
Investors should note that the ETC securities are not the equivalent of investing in gold directly, as they are financial instruments subject to market fluctuations and other risks inherent to securities trading.
Source – Investing.com
If we can break above $31, then it opens up a much bigger move for silver, and it is worth noting that gold looks like it’s trying to break out, but silver, as you probably know, isn’t gold.
The threat of U.S. trade measures against China has weighed on industrial raw materials since the November election, with prices pressured earlier this week when Trump said he could impose a 10% levy on Chinese goods.
Source – Seeking Alpha
“The latest run-up in prices—in gold to an 11-week high near last year’s record, and silver towards resistance around USD 31—was triggered by Trump’s threat to impose tariffs on some of its major trading partners, including Canada, Mexico, Europe, and China.”
“Silver continues to recover from the deep end-of-year correction that saw the white metal tumble 17% from a 12-year high at $34.87 to a December low at $28.74. Besides renewed demand from wrong-footed short sellers in the futures market at the start of the year, prices have also been supported by… the fundamental outlook for a fifth consecutive annual supply deficit.”
Source – Seeking Alpha
In India, domestic prices hit an all-time high of 80,034 ($927.69) rupees per 10 grams on Friday, tracking the international spot gold prices and hovering near a record high of $2,790.15 hit on Oct. 31.
“Retail demand was negligible this week due to the price rise. Most jewellery stores were witnessing thin footfall,” a Chennai-based bullion dealer said.
Chinese gold prices are higher again and close to historical highs, which has sucked out demand but some people are still buying due to the holiday season starting next week, said a mainland China-based precious metal trader.
Source – Reuters
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