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Silver Prices Surge: Banks Face Billion-Dollar Losses
1729341322 from BANKING
… among just five U.S. banks. Industry analysts are questioning … : Gold Short Position For Banks Reaches All-Time Record Critics … paper contracts and physical metal. Banks can sell short excessive amounts … silver prices could force these banks to buy back large …
Congo’s State Miner Bids for Trafigura-Backed Cobalt Projects
1729269095 from BLOOMBERG
Democratic Republic of Congo’s state-owned miner has submitted a bid for Chemaf Resources Ltd.’s unit in the country, months after saying it intended to block a previous deal to sell the copper and cobalt miner to a Chinese investor.
Significantly lower Swiss Gold exports to India – Commerzbank
1729267200 from FXStreet
The record high price level is having a dampening effect on demand for Gold in Asia, as shown by data on Switzerland's Gold exports for September published yesterday by the Swiss Federal Customs Authority, Commerzbank commodity analyst Carsten Fritsch notes.
Will Gold continue to rise? – Commerzbank
1729264656 from FXStreet
This morning, the price of Gold reached a new all-time high of more than $2,700 per troy ounce, although the market is expecting significantly less interest rate cuts by the US Federal Reserve than at the beginning of the month and the US dollar has recently appreciated noticeably, Commerzbank commodity analyst Carsten Fritsch notes.
Debt Concerns Fuel Gold's Rise as Treasury Bond Alternative
1729264605 from GOLDSILVER
As gold prices continue to rise, Bank of America analysts propose that it might become a safer investment option than Treasury bonds. This shift is attributed to increasing U.S. debt levels, potential post-election spending increases, and global economic challenges. While Treasury bonds have long been considered a safe haven, growing concerns about government borrowing could lead investors to view gold as the ultimate safe asset, potentially driving its price to $3,000 per ounce.
Gold Weekly Forecast: XAU/USD rallies to new record-high as global interest rate environment changes
1729261298 from fxstreet
Gold (XAU/USD) ignored the broad-based US Dollar (USD) strength this week and advanced to a new all-time high above $2,700 as investors reacted to growing prospects of a globally lower interest rate environment.
Precious Metal Breaks Records: Gold Futures Reach New Peak
1729259664 from GOLDSILVER
Gold futures have reached a new record high, surpassing $2,729 per troy ounce on the New York Mercantile Exchange. The precious metal's price has increased by over 3% in the past week, driven by geopolitical tensions and economic uncertainty. Experts predict further gains, citing factors such as the weakening US dollar and global demand for a stable store of value.
Gold Shatters $2,700 Ceiling as Global Tensions Fuel Safe-Haven Rush
1729259191 from GOLDSILVER
Gold prices surged past $2,700 per ounce for the first time, driven by safe-haven demand amid geopolitical tensions and expectations of monetary policy easing. The precious metal's rally is fueled by uncertainty surrounding the U.S. presidential elections and ongoing conflicts in the Middle East, with analysts noting strong speculative interest from Asian markets.
West Red Lake Gold Announces Upsize To Previously Announced Bought Deal Public Offering
1729259011 from FPOST
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) — West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce, it has agreed with Raymond James Ltd., to increase […]
Gold hits new all-time-high at $2,700 amidst bullish Bitcoin
1729253206 from CryptoNWS
Gold has gone up more than 2% in the past week, reaching a new all-time high fueled by global demand for safe-haven assets and anticipated interest rate cuts from major central banks, while Bitcoin continues to climb above $67,000. According…
India News | Sensex, Nifty Snap 3-day Slide on Value Buying in Banking, Metal Shares
1729252322 from BANKING
… , led by value buying in banking, financials and metal stocks and … set of results from private banks were positive, building an expectation … resorted to value buying in banking, metals and realty stocks which …
Gold plants flag above fresh all-time high at $2,700 on increased prospects of global easing
1729245892 from FXStreet
Gold (XAU/USD) establishes a foothold above the $2,700 psychological level on Friday after piercing through above this level on the previous day, setting yet another fresh all-time high.
Prime Reports Significantly Expanded Gold and Silver Mineral Resource with Exceptional Upside Potential at its Los Reyes Property
1729022889 from FPOST
Growth Driven by the Addition of High-Grade Underground Resources VANCOUVER, British Columbia, Oct. 15, 2024 (GLOBE NEWSWIRE) — Prime Mining Corp. (“Prime” or the “Company”) (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: 04V3) is reporting significant open pit expansion and new underground resources in its 2024 Mineral Resource Estimate (“MRE”) at the Company’s Los Reyes Project (the “Project”), […]
UAE to review India's concerns on surge in silver, platinum alloy imports
1729004740 from BIZSTNDRD
India has raised its concerns over jump in imports of silver products, platinum alloy, and dry dates from the UAE and urged the country to ensure that the rules are not circumvented under the free trade agreement (FTA), an official statement said on Tuesday. The UAE has agreed to examine the concerns raised by the India, the commerce ministry said. Following significant increase in imports, India sought review of certain provisions of the FTA with the UAE that came into force on May 1, 2022. The concerns were raised during the second meeting of the joint committee (JC) under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in the UAE on October 14. The Indian delegation was led by Additional Secretary in the Department of Commerce Ajay Bhadoo and Assistant Undersecretary for International Trade Affairs, Ministry of Economy of the UAE, Juma Al Kait co-chaired from the UAE side. "Indian side raised the issue related to the recent surge in imports of silver products,
Central Banks Signal Bullish Outlook on Gold Amid Global Uncertainties
1728999676 from GOLDSILVER
Central banks worldwide are showing renewed interest in increasing their gold reserves, as highlighted by recent comments from officials representing Mexico, Mongolia, and the Czech Republic. These central bankers cited factors such as geopolitical tensions, lower interest rates, and economic uncertainty as reasons for potentially expanding their gold holdings. This shift in strategy comes amid a record-breaking rally in gold prices, which have surged over 25% in 2024, outperforming both US equities and bonds. The trend reflects a growing recognition of gold's role as a safe-haven asset and diversifier in national reserves.
Gold Holds Ground as Dollar Strength Tests Recent Gains
1728998924 from GOLDSILVER
Gold prices remain steady as the US dollar strengthens, with traders balancing profit-taking impulses against potential Federal Reserve rate cuts. The precious metal, hovering around $2,650 per ounce, faces headwinds from a robust dollar and higher Treasury yields but continues to be supported by expectations of future rate reductions. Despite these challenges, analysts anticipate gold could reach new record highs by the end of the year, building on its nearly 30% gain so far in 2024.
Multiple New Gold Zones Discovered at OKO Project
1728997949 from FPOST
New High-Grade Zone Emerging East of Ghanie Main Zone. Ghanie Main deposit continues to grow along strike and is open to depth. OMZ Shear 3 southern extensions intercepted with multiple visible gold showings. TORONTO, Oct. 15, 2024 (GLOBE NEWSWIRE) — G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) is pleased to provide […]
Silver Mines planning next steps for NSW development application
1728997541 from MINING
ASX-listed Silver Mines said on Tuesday it was … ;s decision had prompted Silver Mines to reassess its strategic options … a statement on Tuesday, Silver Mines confirmed that legal advice indicated …
Zijin Mining acquires Ghana’s Akyem gold mine from Newmont
1728993359 from MINING
… of Ghana’s largest gold mines, having commenced commercial production … will continue to operate other mines in Ghana, including the … Ahafo South and Ahafo North mines, which produced 581,000 … by leading global gold mining firms. Zijin Mining’s exploration and …
Steel import surge impacts domestic players' gross margins: Ind-Ra
1728991663 from BIZSTNDRD
The surge in steel imports has impacted the margins of domestic players and such pressures are likely to intensify in the second half of the ongoing fiscal year, a report said on Tuesday. The report covers global causes of increased steel imports to India, the likely trajectory of imports, key exporting nations, and domestic demand supply balance, India Ratings and Research (Ind-Ra) said in a statement. The increasing steel imports to India -- particularly from the third quarter of FY24 -- have affected the gross margin spreads in the domestic steel industry, it said. "Ind-Ra believes the Indian steel industry is witnessing margin pressure because of higher volumes of lower-priced steel imports from China, Vietnam, Japan, and Korea, and such pressure is likely to intensify over 2HFY25," it said. As per the report, the Chinese steel export volumes were at its peak in FY25 over at least past 21 quarters, as its domestic steel prices have been consistently declining, keeping ...
Fight broke out over proposed mining
1728989170 from MINING
… and opposers of a proposed mining operation. The incident occurred … team from the Ministry of Mines and Energy and Rural … conducting an awareness on the mining operation in Lokuru. The division … Awareness Team led by the Mines and Energy Division Director …
Newmont and MKS PAMP Partner to Launch Mine-to-Market Traceable Gold Bar at the Largest U.S. Wholesaler
1728986622 from FPOST
DENVER — Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) and MKS PAMP partner to offer consumers a traceable gold bar exclusively made with Newmont-mined gold, refined and minted by MKS PAMP in Switzerland – powered by Provenance™. The mine-to-market traceable PAMP 1oz Lady of Liberty gold bar is available at the […]
Mining sector set for growth as revenue expected to reach $6 Billion by 2025
1728982021 from MINING
… Chamber of Mines of Zimbabwe (COMZ) has said. Presenting the Mining Industry … indicates a general optimism among mining executives regarding increasing employment numbers … collaborating with the Ministry of Mines and Mining Development and other government …
Copper appoints new CEO to focus on strengthening US presence
1728980520 from CryptoNWS
Crypto custodian firm Copper has appointed a new chief executive to double down on its presence in the U.S., Hong Kong, and Abu Dhabi. Copper, a crypto custodian and collateral management hub, announced the appointment of Amar Kuchinad as its…
Gold price bounces off daily low; bulls seem non committed amid stronger USD and risk-on mood
1728976655 from FXStreet
Gold price (XAU/USD) witnessed an intraday pullback from over a one-week high touched on Monday and finally settled in the red, snapping a two-day winning streak amid broad-based US Dollar (USD) strength.
Sceptical at first, mining company opens unusual attraction in its mine
1728974154 from MINING
… but the hard work of miners. Underground cinema The vast and … of the Slovenské Magnezitové Závody mining company shook their heads when … , CEO of the company. Mining in the section made available … with the great importance of mining, as well as motivating young …