Palladium Prices Jan 9,2025
Source – Money Metals
Precious Metals
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Gold Prices Jan 9,2025
Source – Money Metals
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Silver Prices Jan 9,2025
Source – Money Metals
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Copper Prices Jan 9,2025
Source – Money Metals
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Gold up Silver down
The price of 24-carat gold surged by Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 78,830 according to the GoodReturns website. The price of silver fell by Rs 100, with one kilogram of the precious metal selling at Rs 92,400.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata, Chennai, and Hyderabad at Rs 78,830.
Source – Business Standard
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Ivanhoe Mines Targets Increased Copper, Zinc Production This Year
The Canadian mining company on Wednesday set a 2025 production target of between 520,000 and 580,000 metric tons of copper at its Kamoa-Kakula operation.
Ivanhoe expects to produce between 180,000 and 240,000 tons of zinc at its Kipushi zinc-copper-germanium-silver mine.
Ivanhoe said that during the last day of the year, a record 750 tons of zinc were produced over a 24-hour period, exceeding the operation’s nameplate capacity.
Source – Market Watch
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Silver Is Rebounding Following Its Year-End Selloff
Silver is making a strong comeback at the start of 2025, following a challenging year-end performance in 2024.
There is good reason to suspect that bullion banks have deliberately driven gold and silver prices lower at the close of 2024 to “paint the charts” and influence the yearly closing prices. Reports Jesse Colombo
Source – Money Metals
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Gold ETF AUMs Surged 26% In 2024, Says World Gold Council
Total assets under management (AUMs) in gold-based exchange-traded funds (ETFs) hit record highs of $271 billion in 2024, according to the World Gold Council (WGC).
This represented a 26% year-on-year increase and was driven by a soaring bullion price.
The yellow metal hit new all-time highs on 40 occasions last year, the WGC noted. Over the whole year, gold appreciated 26% in value to around $2,629 per ounce.
Source – Forbes
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Gold rose but weaker than expected: December report
Spot gold rose 0.5% to $2,663.79 per ounce, as of 9:55 a.m. ET (1455 GMT) and hit its highest since Dec. 13. U.S. gold futures gained 0.5% to $2,679.70.
Weaker private payrolls “is contributing to gold’s move, because ultimately, weaker employment numbers imply that the economy has been weaker than many had expected,” said Bart Melek, head of commodity strategies at TD Securities.
“The bigger factor will be U.S. nonfarm payrolls on Friday, the market is expecting a change of 163 (thousand); anything significantly above that will be negative for gold,” Melek said.
Source – Reuters
