goldinvesting
Pan American Silver (TSX:PAAS,NASDAQ:PAAS) has announced the sale of its 100 percent interest in La Arena, including the La Arena gold mine and the La Arena II project in Peru, to Singapore’s Jinteng Mining, a subsidiary of Zijin Mining Group (OTC Pink:ZIJMF,SHA:601899) Zijin will pay US$245 million cash upfront and grant Pan American a life-of-mine gold net smelter return royalty of 1.5 percent for the La Arena II project upon the deal closing. Additionally, upon the commencement of commercial production from the La Arena II project, an additional contingent payment of US$50 million in cash w...
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The United States Federal Reserve announced on Wednesday (May 1) that it would hold its benchmark rate at 5.25 percent to 5.5 percent following its two-day Federal Open Market Committee (FOMC) meeting. In his press conference following the meeting, Federal Reserve Chairman Jerome Powell largely echoed statements from previous sessions, suggesting the committee would continue to hold rates until it had more confidence that the inflation rate was on a sustainable path to the 2 percent target set by the central bank. This was in line with analyst expectations prior to the meeting based on recent ...
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The World Gold Council (WGC) has released its latest gold demand trends report, highlighting a record quarterly average price of US$2,050 per ounce for the yellow metal on the back of strong demand. This represents a substantial 10 percent increase year-on-year and a notable 5 percent rise quarter-on-quarter, culminating in the precious metal reaching new heights and closing the three month period at US$2,214. “The upside potential has been really exciting to watch, but definitely something that is giving us a signal that there might be more than just strategic investment in play, likely some ...
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Speaking to the Investing News Network, Craig Hemke, publisher of TFMetalsReport.com, shared his thoughts on what's behind gold's big price rise and current pullback, plus what could be next for the yellow metal. In his view, gold's move back below the US$2,400 per ounce level is completely normal — Hemke noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy. With that said, he does see strong upside potential for the precious metal in 2024. In his view, there are a lot of technical targets that line up with US$2,650 or US$2,700, ...
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Endeavour Mining (TSX:EDV,OTCQX:EDVMF) reported its first gold pour at the Sabodala-Massawa BIOX expansion in Senegal just 24 months after construction of the project commenced. “We are proud to have achieved our first gold pour at the Sabodala-Massawa BIOX Expansion with over 3.5 million man hours worked with no lost time injuries,” commented CEO Ian Cockerill in the company’s announcement. “We have commissioned the project and delivered first gold in only 2 years, marking the fourth capital project that we have completed in the last 10 years. All of these have been completed in two years or ...
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The gold price started 2024 coming off December's record highs. A combination of central bank buying and geopolitical uncertainty helped gold remain above US$2,100 per ounce for the first eight weeks of the year. However, a rally in early March gave gold renewed momentum. Support came on the back of contracting US manufacturing numbers, which caused investors to speculate that the US Federal Reserve would start rate cuts in June. This belief gained further strength when the central bank met on March 19 and 20, and indicated that it was done with rate hikes and was expecting to make three cuts ...
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Newmont (TSX:NGT,NYSE:NEM) released its Q1 results on April 25, saying it is on track to achieve guidance. In Q1, the world's largest gold miner reported attributable gold production of 1.7 million ounces, up from the previous year's 1.3 million ounces. The company's shares rose as much as 13.57 percent on the news to hit US$43.84. Emphasizing the strength of its Tier 1 gold and copper assets, Newmont said it generated US$776 million in cashflow from its operating activities during the period, net of working capital changes of US$666 million. The company continues working to divest non-core as...
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The gold price corrected this week, even falling briefly below US$2,300 per ounce. While that's down from levels of over US$2,400 earlier this month, most experts aren't concerned about the yellow metal's price activity. I asked Craig Hemke of TFMetalsReport.com about the recent pullback, and he said that it's completely normal — he noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy. With that said, Hemke does see strong upside potential for the precious metal in 2024. He said there are a lot of technical targets that line up w...
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James Henry Anderson, senior market analyst at precious metals dealer SD Bullion, shared his thoughts on gold and silver, including what factors are moving the metals right now and where they could go in 2024. In his view, the precious metals sector is undergoing a tectonic shift with far-reaching impacts. "Ultimately I think US$2,400 (per ounce gold) is going to be looked back in time as being cheap," he said. Watch the interview above for more of Anderson's thoughts on gold and silver. Don’t forget to follow us @INN_Resource for real-time updates! Securities Disclosure: I, Charlotte McLeod, ...
Investing News Network
2024 has been a storybook year for gold. Coming off a record-setting December 2023, markets were range bound as they awaited important interest rate decisions from the US Federal Reserve. As March started, messaging from the central bank became clearer. The Fed was confident it was done raising rates and cuts could be expected in 2024. Gold took off, setting the quarter’s high of US$2,264.52 per ounce on March 31, with momentum continuing to set an all-time high of US$2,426.56 per ounce on April 12. Despite gold’s solid performance at the end of 2023 and continued high prices in 2024, it didn’...
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