Latest news with #centralbanks
News.com.au
7 hours ago
- Business
- News.com.au
Gold Digger: Central banks want EVEN MORE GOLD as boom goes on
Gold prices are sitting near record highs Central bank demand has been a big reason, topping 1000t in each of the past three years And a survey of the world's central banks shows they see that trend continuing Gold prices have absolutely sky-rocketed in the past two years, soaring from under US$2000/oz in late 2023 to more than US$3350/oz today and, at one point in April, as much as US$3500/oz. That's great news for gold equities and their investors. A sizeable portion of that price move could be flimsy, locked into safe haven demand based off temporary responses to signs of global economic and geopolitical instability – Trump's tariffs, the TACO trade (Trump Always Chickens Out – a gag from Wall Street that the Prez HATES), war in the Middle East and Ukraine. But a large driver, underwriting the gold price according to many analysts, has been demand from central banks. Sovereign buyers of bullion have hoovered up, on a net basis, around 1000t of gold in each of the past three years, well above historic levels. The eighth annual central bank reserves survey from the World Gold Council, released this week, suggests central banks are even more bullish about the commodity now than they have been at any point since it launched. Around 95% of central banks buyers expect central banks to increase their gold reserves this year, up from 81% last year, with 76% thinking gold will be a larger proportion of global reserve assets in five years compared to today, up from 62% last year. 43% of respondents have concrete plans to increase their gold reserves in the next 12 months, up from just 29% last year. That comes despite the extraordinarily high cost currently of buying gold, WGC global head of central banks and head of Asia-Pacific (ex-China) Shaokai Fan said. 'After eight years of conducting this survey, we have reached an important milestone: nearly half of the central bank respondents intend to increase their own gold holdings in the coming year. This is remarkable, especially considering how many record-high prices we've hit so far in 2025," he said. "Notably, this reflects the current global financial and geopolitical environments. Gold remains a strategic asset as the world faces uncertainty and tumult. Central banks are concerned about interest rates, inflation, and instability – all reasons to turn to gold to mitigate risk.' Drivers The desire to acquire more gold is even higher in emerging markets, with 48% of the 58 surveyed saying the plan to increase their gold reserves over the next 12 months, compared to just 21% of advanced economy respondents. 84% of EMDE (emerging markets and developing economies) who responded said inflation was behind their rationale for holding gold, with 81% pointing to the geopolitical situation. Across advanced economies, those were key factors for 67% and 60% of respondents, respectively. Those geopolitical fears are reflected also in where gold is being stored, with domestic storage of bullion up from 41% to 59% as a prepper mentality sets in. Around 73% of respondents also see moderately or significantly lower US dollar holdings in global reserves over the next five years. That could happen in lockstep with higher Euro and Renminbi holdings, as economic turmoil, US debt levels and trade unpredictability from the new US Administration prompt foreign central bankers to diversify from the universal store of value. Notably, no central bankers think their gold holdings will decrease this year, with 3% of respondents having indicated plans to sell gold in 2024 and 2023. "Taken together, these findings clearly highlight that gold sentiment within the central banking community remains positive," the report authors said. "Expectations point to continued gold buying over the next 12 months, reflecting sustained confidence in gold's strategic role amid evolving geopolitical and macroeconomic dynamics." 87% of EMDEs and 77% of advanced economy central banks pointed to gold's performance during a time of crisis as a key reason for holding gold, while 92% of advanced economy central banks say it's because of their historical position. Winners and losers Here's how ASX-listed precious metals stocks are performing: CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.009 -14% 0% 29% 0% 29% $ 10,848,675.03 NPM Newpeak Metals 0.02 82% 54% 54% 0% 82% $ 5,797,291.16 ASO Aston Minerals Ltd 0.022 0% 29% 144% 69% 144% $ 28,491,413.92 MTC Metalstech Ltd 0.13 -7% -4% -4% -45% -7% $ 27,133,811.38 GED Golden Deeps 0.021 -9% 17% -13% -48% -16% $ 3,896,765.42 G88 Golden Mile Res Ltd 0.012 0% -8% 50% 9% 33% $ 6,530,974.26 LAT Latitude 66 Limited 0.028 -24% -32% -47% 1300% -26% $ 4,015,219.74 NMR Native Mineral Res 0.2 0% 18% 441% 567% 413% $ 188,259,603.45 AQX Alice Queen Ltd 0.003 0% -40% -57% -57% -63% $ 3,748,920.20 SLZ Sultan Resources Ltd 0.005 0% -29% -17% -50% -17% $ 1,157,349.55 KSN Kingston Resources 0.13 0% 40% 76% 67% 83% $ 107,056,852.63 AMI Aurelia Metals Ltd 0.2075 -33% -30% 26% 22% 22% $ 363,903,117.60 GIB Gibb River Diamonds 0.035 9% 9% -13% -24% -13% $ 7,507,830.58 KCN Kingsgate Consolid. 2.32 4% 24% 74% 37% 81% $ 592,828,891.60 TMX Terrain Minerals 0.002 0% -20% -33% -33% -33% $ 4,497,113.20 BNR Bulletin Res Ltd 0.057 -7% -23% 46% 39% 46% $ 18,204,026.03 NXM Nexus Minerals Ltd 0.079 -5% 13% 61% 108% 76% $ 46,489,490.20 SKY SKY Metals Ltd 0.049 11% 9% -6% 53% -9% $ 32,692,345.64 LM8 Lunnonmetalslimited 0.23 10% 2% 10% 21% -8% $ 50,744,480.02 CST Castile Resources 0.062 5% -9% -17% -21% -23% $ 16,816,171.90 YRL Yandal Resources 0.1075 -10% -37% -45% -2% -39% $ 34,015,848.02 FAU First Au Ltd 0.004 14% 60% 100% 60% 100% $ 8,287,973.11 ARL Ardea Resources Ltd 0.385 -4% -8% 20% -25% 17% $ 82,061,036.85 GWR GWR Group Ltd 0.091 0% -13% 12% 5% 14% $ 29,448,205.61 IVR Investigator Res Ltd 0.032 -6% 60% 68% -36% 60% $ 49,270,766.79 GTR Gti Energy Ltd 0.004 0% 0% 0% -20% 14% $ 11,995,798.65 IPT Impact Minerals 0.0065 30% 8% -31% -57% -31% $ 25,709,644.80 BNZ Benzmining 0.44 -3% 29% 33% 226% 28% $ 70,376,347.75 MOH Moho Resources 0.004 0% -33% 0% 14% -20% $ 2,236,242.08 BCM Brazilian Critical 0.011 22% 10% 22% -35% 22% $ 14,415,865.59 PUA Peak Minerals Ltd 0.0245 17% 53% 181% 916% 216% $ 61,761,068.38 MRZ Mont Royal Resources 0.041 0% 0% -5% -33% -5% $ 3,486,221.51 SMS Starmineralslimited 0.019 -14% -27% -53% -27% -47% $ 3,530,326.41 MVL Marvel Gold Limited 0.014 -7% 0% 56% 75% 56% $ 19,504,319.84 PRX Prodigy Gold NL 0.002 0% 0% 0% -10% 0% $ 6,350,111.10 AAU Antilles Gold Ltd 0.004 0% 0% 33% 0% 33% $ 9,325,472.06 CWX Carawine Resources 0.094 0% -6% -5% -6% -6% $ 22,431,917.66 RND Rand Mining Ltd 2.12 7% 12% 36% 49% 40% $ 120,008,277.71 CAZ Cazaly Resources 0.023 21% 44% 53% 15% 64% $ 9,226,059.82 BMR Ballymore Resources 0.17 -8% 10% 31% 3% 42% $ 31,811,505.30 DRE Dreadnought Resources Ltd 0.01 -23% -23% -9% -63% -17% $ 60,954,000.00 ZNC Zenith Minerals Ltd 0.036 -8% -12% -10% -48% -10% $ 14,824,753.92 REZ Resourc & En Grp Ltd 0.019 12% 19% 6% 58% -17% $ 13,432,782.44 LEX Lefroy Exploration 0.1 -5% 28% 47% 10% 43% $ 24,842,013.80 ERM Emmerson Resources 0.13 0% 0% 76% 141% 69% $ 82,630,454.27 AM7 Arcadia Minerals 0.016 -11% -20% -16% -70% -16% $ 1,760,751.50 ADT Adriatic Metals 5.525 11% 52% 38% 39% 42% $ 1,650,437,362.24 AS1 Asara Resources Ltd 0.05 -11% 22% 127% 355% 163% $ 58,362,425.94 CYL Catalyst Metals 5.725 -15% -18% 119% 484% 122% $ 1,447,751,324.25 CHN Chalice Mining Ltd 1.5575 6% 44% 44% 17% 41% $ 632,168,530.50 KAL Kalgoorliegoldmining 0.04 -13% -5% 122% 25% 122% $ 15,258,487.08 MLS Metals Australia 0.017 -6% -6% -19% -19% -26% $ 12,388,231.91 ADN Andromeda Metals Ltd 0.012 -8% 9% 71% -29% 71% $ 45,760,116.89 MEI Meteoric Resources 0.115 -15% 10% 42% -32% 35% $ 280,423,533.84 SRN Surefire Rescs NL 0.002 100% -20% -40% -70% -32% $ 4,972,890.78 WA8 Warriedarresourltd 0.13 8% 8% 210% 160% 195% $ 135,918,297.48 HMX Hammer Metals Ltd 0.031 -3% -3% 0% -6% -6% $ 28,408,278.40 WCN White Cliff Min Ltd 0.02 -9% -31% 18% 29% 25% $ 48,267,722.92 AVM Advance Metals Ltd 0.048 0% 14% 41% 100% 41% $ 12,191,602.36 ASR Asra Minerals Ltd 0.0015 -25% -40% -50% -63% -50% $ 7,983,396.02 ARI Arika Resources 0.035 -15% 17% 35% 75% 30% $ 27,400,202.83 CTO Citigold Corp Ltd 0.003 -14% 0% -25% -25% -25% $ 9,000,000.00 SMI Santana Minerals Ltd 0.565 -7% 5% 24% 54% 16% $ 401,108,864.63 M2R Miramar 0.0035 0% 17% -13% -63% 17% $ 3,488,881.50 MHC Manhattan Corp Ltd 0.019 -14% -17% -14% -43% 0% $ 4,697,977.96 GRL Godolphin Resources 0.009 -10% 0% -33% -53% -38% $ 4,039,859.81 SVG Savannah Goldfields 0.018 -5% -22% -2% 3% -2% $ 20,548,386.70 EMC Everest Metals Corp 0.14 -7% 0% 4% 17% 4% $ 33,619,688.25 GUL Gullewa Limited 0.068 -8% -3% 21% -4% 21% $ 17,877,818.10 CY5 Cygnus Metals Ltd 0.089 -11% 25% -19% 71% -11% $ 80,006,377.07 G50 G50Corp Ltd 0.12 -14% 14% -20% -23% -23% $ 19,271,719.08 ADV Ardiden Ltd 0.15 3% 3% 15% 15% 11% $ 9,065,038.37 AAR Astral Resources NL 0.175 -3% 13% 21% 119% 30% $ 262,333,187.37 VMC Venus Metals Cor Ltd 0.115 -4% 15% 77% 51% 72% $ 21,574,155.13 NAE New Age Exploration 0.0035 -13% -13% -13% -13% 0% $ 8,117,734.22 VKA Viking Mines Ltd 0.0065 0% -7% -13% -19% -19% $ 8,735,666.87 LCL LCL Resources Ltd 0.007 0% 0% -22% -13% -30% $ 8,363,688.95 MTH Mithril Silver Gold 0.485 -8% 43% 33% 194% 21% $ 68,553,270.34 ADG Adelong Gold Limited 0.005 -17% -38% 25% -29% 11% $ 9,309,045.03 RMX Red Mount Min Ltd 0.008 -11% 0% -11% -20% -11% $ 3,719,662.37 PRS Prospech Limited 0.02 -5% -17% -33% -43% -31% $ 6,818,865.97 TTM Titan Minerals 0.35 -7% -5% 4% 0% -8% $ 96,461,111.22 AKA Aureka Limited 0.12 -4% -4% -8% -99% -11% $ 16,386,536.53 AAM Aumegametals 0.031 -9% -11% -24% -42% -26% $ 18,727,504.30 KZR Kalamazoo Resources 0.088 4% -1% 10% 4% 19% $ 19,087,235.98 BCN Beacon Minerals 0.03 7% 11% 36% 20% 36% $ 126,791,863.77 MAU Magnetic Resources 1.565 -5% -2% 39% 52% 42% $ 429,347,646.40 BC8 Black Cat Syndicate 0.85 1% 3% 49% 209% 50% $ 601,377,106.30 EM2 Eagle Mountain 0.006 20% 20% -27% -86% -33% $ 6,810,223.73 EMR Emerald Res NL 4.665 5% 10% 34% 33% 44% $ 3,024,120,122.80 BYH Bryah Resources Ltd 0.0135 -4% 238% 350% 93% 350% $ 11,309,395.79 HCH Hot Chili Ltd 0.55 -2% 15% -20% -41% -21% $ 81,861,920.46 WAF West African Res Ltd 2.175 -6% -5% 46% 51% 52% $ 2,496,359,535.81 MEU Marmota Limited 0.039 -5% -11% 5% -17% 0% $ 45,953,925.81 NVA Nova Minerals Ltd 0.35 4% 9% 25% 75% -5% $ 111,434,108.87 SVL Silver Mines Limited 0.115 -15% 29% 42% -30% 47% $ 213,573,047.04 PGD Peregrine Gold 0.16 -24% 14% 33% -27% 14% $ 13,999,877.27 ICL Iceni Gold 0.059 -31% 3% -11% -13% -17% $ 20,598,083.22 FG1 Flynngold 0.034 0% 36% 26% 26% 36% $ 12,913,443.51 WWI West Wits Mining Ltd 0.02 -26% -17% 43% 54% 43% $ 52,566,531.06 RML Resolution Minerals 0.04 18% 233% 208% 100% 233% $ 24,222,908.48 AAJ Aruma Resources Ltd 0.01 0% 0% -9% -33% -17% $ 2,775,727.14 HWK Hawk Resources. 0.015 -6% -17% -25% -58% -32% $ 4,063,941.74 GMN Gold Mountain Ltd 0.001 -50% -50% -67% -67% -67% $ 5,619,759.25 MEG Megado Minerals Ltd 0.012 0% -8% -25% 40% -29% $ 7,280,199.14 HMG Hamelingoldlimited 0.069 -17% -23% 10% -13% 8% $ 16,340,625.00 BM8 Battery Age Minerals 0.055 2% 4% -45% -61% -48% $ 6,704,050.27 TBR Tribune Res Ltd 5 2% 4% 17% 42% 17% $ 262,340,385.00 FML Focus Minerals Ltd 0.37 -6% 61% 106% 147% 118% $ 104,593,905.43 VRC Volt Resources Ltd 0.004 -11% -20% 33% -33% 33% $ 23,423,889.92 ARV Artemis Resources 0.0055 -8% -21% -39% -54% -31% $ 15,214,032.99 HRN Horizon Gold Ltd 0.57 -2% 9% 43% 104% 19% $ 79,661,957.65 CLA Celsius Resource Ltd 0.0065 -7% -7% -35% -41% -41% $ 21,948,419.16 QML Qmines Limited 0.042 5% 17% -21% -30% -22% $ 18,134,750.00 RDN Raiden Resources Ltd 0.005 -17% -29% -55% -83% -55% $ 17,254,457.21 TCG Turaco Gold Limited 0.47 -2% 21% 77% 147% 84% $ 433,911,101.28 KCC Kincora Copper 0.039 8% 22% 50% -35% 44% $ 9,419,163.52 GBZ GBM Rsources Ltd 0.006 0% -33% -14% -40% -25% $ 7,026,419.87 DTM Dart Mining NL 0.003 -14% -25% -70% -84% -67% $ 3,594,166.73 MKR Manuka Resources. 0.041 3% 21% 58% 5% 46% $ 30,842,003.75 AUC Ausgold Limited 0.725 -4% 21% 77% 96% 73% $ 253,788,176.56 ANX Anax Metals Ltd 0.007 -13% -13% -48% -77% -42% $ 6,179,652.97 EMU EMU NL 0.02 18% 0% -23% -23% -26% $ 4,224,969.36 SFM Santa Fe Minerals 0.035 -8% -5% 21% -13% 13% $ 2,912,751.56 PNR Pantoro Gold Limited 3.19 -13% -2% 111% 111% 108% $ 1,237,360,738.95 CMM Capricorn Metals 10.49 10% 20% 58% 118% 67% $ 4,431,507,241.88 VRL Verity Resources 0.021 -19% -22% -2% -57% 8% $ 6,985,586.70 HAW Hawthorn Resources 0.068 39% 24% 66% 6% 66% $ 17,755,827.49 BGD Bartongoldholdings 0.905 6% 29% 269% 223% 269% $ 200,889,359.10 SVY Stavely Minerals Ltd 0.011 -8% -8% -35% -68% -35% $ 6,528,505.12 AGC AGC Ltd 0.155 -9% 3% -3% -47% 0% $ 41,055,555.52 RGL Riversgold 0.004 -11% 0% 33% -33% 0% $ 6,734,850.37 TSO Tesoro Gold Ltd 0.025 0% -7% 19% -22% 25% $ 44,660,653.42 GUE Global Uranium 0.065 0% 8% 27% -27% 8% $ 30,013,808.42 CPM Coopermetalslimited 0.036 0% 0% -5% -49% -22% $ 2,820,803.40 MM8 Medallion Metals. 0.25 -12% -4% 158% 363% 108% $ 124,618,194.05 FFM Firefly Metals Ltd 1.075 2% 17% 18% 36% 16% $ 637,522,208.46 CBY Canterbury Resources 0.031 7% 63% 24% -33% 41% $ 6,015,785.98 SLA Solara Minerals 0.175 3% 46% 116% -30% 94% $ 10,147,344.03 SFR Sandfire Resources 11.385 0% 8% 23% 32% 23% $ 5,233,419,204.00 TAM Tanami Gold NL 0.05 9% 32% 67% 61% 67% $ 57,579,755.25 NWM Norwest Minerals 0.012 -11% 20% -30% -48% 0% $ 11,620,302.74 ALK Alkane Resources Ltd 0.72 -3% 1% 43% 38% 41% $ 439,017,871.70 BMO Bastion Minerals 0.002 27% -15% -36% -58% -36% $ 1,419,960.35 IDA Indiana Resources 0.078 3% -1% 28% 83% 28% $ 49,490,399.27 GSM Golden State Mining 0.0075 7% -17% -6% -17% -6% $ 1,955,594.41 NSM Northstaw 0.032 -5% -8% 102% 148% 102% $ 8,757,648.00 GSN Great Southern 0.024 4% 9% 71% 60% 60% $ 23,923,302.96 VAU Vault Minerals Ltd 0.4125 -4% -4% 27% -7% 25% $ 2,789,014,086.62 DEG De Grey Mining 0 -100% -100% -100% -100% -100% $ 5,915,063,112.00 THR Thor Energy PLC 0.01 -9% -9% -23% -38% -23% $ 7,107,898.35 CDR Codrus Minerals Ltd 0.037 0% -3% 95% -23% 118% $ 8,062,640.78 MDI Middle Island Res 0.021 -16% 17% 50% 62% 75% $ 6,157,913.39 WTM Waratah Minerals Ltd 0.265 -23% -13% 71% 141% 71% $ 60,713,189.16 POL Polymetals Resources 0.815 -4% 1% 1% 220% 3% $ 204,232,215.14 RDS Redstone Resources 0.0035 17% -42% 40% -30% 40% $ 3,619,935.74 NAG Nagambie Resources 0.017 -6% -6% 6% 55% -6% $ 13,656,139.85 BGL Bellevue Gold Ltd 0.935 1% 6% -20% -49% -17% $ 1,395,128,171.12 GBR Greatbould Resources 0.073 3% 20% 70% 18% 70% $ 55,536,411.26 KAI Kairos Minerals Ltd 0.0305 13% 17% 135% 190% 154% $ 76,296,453.48 KAU Kaiser Reef 0.18 0% 9% 9% 24% 13% $ 100,902,845.50 HRZ Horizon 0.049 -11% 0% 26% 36% 23% $ 123,302,133.50 CDT Castle Minerals 0.076 -14% -19% 27% -49% 27% $ 9,628,794.31 RSG Resolute Mining 0.6 5% 3% 48% 20% 52% $ 1,298,720,507.93 EVN Evolution Mining Ltd 7.855 -10% -3% 63% 116% 63% $ 15,578,504,854.48 CXU Cauldron Energy Ltd 0.01 43% 14% -7% -61% -14% $ 14,664,046.09 DLI Delta Lithium 0.175 3% -13% 6% -22% 3% $ 125,394,813.60 ALY Alchemy Resource Ltd 0.005 0% -9% -29% -38% -29% $ 5,890,381.28 NH3 Nh3Cleanenergyltd 0.03 -9% 20% 58% 173% 67% $ 16,938,143.55 OBM Ora Banda Mining Ltd 0.915 -10% -9% 42% 158% 41% $ 1,751,893,791.45 AVW Avira Resources Ltd 0.007 0% 0% -65% -65% -65% $ 1,610,000.00 LCY Legacy Iron Ore 0.009 0% 0% 0% -33% -10% $ 87,858,383.26 PDI Predictive Disc Ltd 0.3875 -7% 2% 68% 104% 68% $ 1,035,072,490.97 MAT Matsa Resources 0.061 -13% -13% 74% 110% 74% $ 44,000,871.78 ZAG Zuleika Gold Ltd 0.018 50% 50% 38% -5% 38% $ 13,353,838.69 GML Gateway Mining 0.028 -10% 0% 22% 8% 33% $ 11,855,788.56 SBM St Barbara Limited 0.325 -12% 7% 10% 51% 44% $ 341,096,597.42 SBR Sabre Resources 0.009 0% 13% -10% -47% -10% $ 3,550,157.40 STK Strickland Metals 0.14 0% 27% 63% 27% 65% $ 305,418,572.60 CEL Challenger Gold Ltd 0.086 -1% 12% 126% 51% 83% $ 177,633,790.25 GG8 Gorilla Gold Mines 0.435 -11% -17% 67% 1446% 67% $ 279,429,093.42 NST Northern Star 20.34 -5% 8% 33% 52% 32% $ 29,113,820,447.62 OZM Ozaurum Resources 0.066 -8% -14% 154% 14% 120% $ 15,120,723.62 TG1 Techgen Metals Ltd 0.024 -4% -4% -29% -14% -31% $ 3,807,977.04 XAM Xanadu Mines Ltd 0.079 1% 0% 58% 32% 61% $ 178,714,472.74 AQI Alicanto Min Ltd 0.028 -13% 0% -24% 70% -24% $ 23,748,003.33 KTA Krakatoa Resources 0.012 0% 20% 33% 9% 26% $ 6,821,474.28 ARN Aldoro Resources 0.33 10% 3% 6% 400% -13% $ 57,296,432.03 WGX Westgold Resources. 2.945 -5% 13% -1% 25% 4% $ 2,801,035,779.30 MBK Metal Bank Ltd 0.011 -15% 10% -21% -52% -27% $ 5,472,048.98 A8G Australasian Metals 0.067 -3% -3% -13% -14% -15% $ 3,878,611.58 TAR Taruga Minerals 0.008 0% -11% -20% 14% -20% $ 6,423,786.52 DTR Dateline Resources 0.079 -21% 114% 2533% 778% 2157% $ 236,251,292.67 GOR Gold Road Res Ltd 3.36 -1% 2% 64% 107% 64% $ 3,650,300,841.60 S2R S2 Resources 0.064 -14% -28% -6% -35% -4% $ 33,523,787.98 NES Nelson Resources. 0.003 0% 0% 0% 0% 0% $ 6,515,782.98 TLM Talisman Mining 0.135 -4% -10% -36% -48% -34% $ 24,481,645.37 BEZ Besragoldinc 0.056 30% 37% -16% -43% -38% $ 22,436,836.11 PRU Perseus Mining Ltd 3.555 -5% 5% 34% 51% 38% $ 4,849,508,582.72 SPQ Superior Resources 0.0035 -13% -13% -42% -50% -42% $ 9,483,930.90 PUR Pursuit Minerals 0.037 -10% -10% -66% -75% -61% $ 3,690,156.63 RMS Ramelius Resources 2.655 -6% 4% 23% 42% 28% $ 3,013,260,660.80 PKO Peako Limited 0.002 0% -20% -33% -35% -33% $ 4,463,225.88 ICG Inca Minerals Ltd 0.009 80% 80% 50% 29% 80% $ 14,187,510.56 A1G African Gold Ltd. 0.16 -3% 42% 220% 567% 191% $ 84,220,475.52 NMG New Murchison Gold 0.018 6% 20% 80% 300% 100% $ 177,315,301.93 GNM Great Northern 0.013 0% -24% -7% 8% -7% $ 2,164,807.08 KRM Kingsrose Mining Ltd 0.031 3% 0% -14% -23% -11% $ 24,112,848.61 BTR Brightstar Resources 0.5 -11% -29% 0% 33% 0% $ 241,014,510.72 RRL Regis Resources 4.705 -4% 2% 78% 170% 85% $ 3,490,307,131.08 M24 Mamba Exploration 0.012 0% -14% 0% -33% 0% $ 4,132,318.54 TRM Truscott Mining Corp 0.052 -5% -20% -33% -15% -33% $ 9,955,325.12 TNC True North Copper 0.355 13% 65% -88% -93% -88% $ 44,583,975.80 MOM Moab Minerals Ltd 0.001 0% 0% -50% -80% -50% $ 1,733,666.03 KNB Koonenberrygold 0.035 -20% -48% 192% 106% 192% $ 37,913,621.72 AWJ Auric Mining 0.175 3% -9% -51% 0% -49% $ 32,546,692.85 ENR Encounter Resources 0.26 13% 13% -13% -28% -20% $ 119,710,156.56 SNG Siren Gold 0.0505 -5% 3% -20% -42% -22% $ 10,948,530.45 STN Saturn Metals 0.385 4% 43% 97% 97% 88% $ 156,284,475.48 USL Unico Silver Limited 0.28 2% 27% 56% 93% 44% $ 122,624,251.40 PNM Pacific Nickel Mines 0.024 0% 0% 0% -17% 0% $ 10,103,834.52 AYM Australia United Min 0.003 50% 0% -25% 50% -25% $ 5,527,732.46 HAV Havilah Resources 0.18 -3% 6% -14% 0% -20% $ 62,762,414.76 SPR Spartan Resources 2.08 -6% 4% 59% 154% 48% $ 2,588,762,477.66 PNT Panthermetalsltd 0.014 0% 8% 40% -31% 27% $ 4,212,663.67 MEK Meeka Metals Limited 0.155 -11% 24% 104% 400% 101% $ 377,355,775.50 GMD Genesis Minerals 4.61 -3% 17% 81% 155% 87% $ 5,097,869,029.00 PGO Pacgold 0.067 -1% -6% -9% -36% -11% $ 9,940,386.82 FEG Far East Gold 0.16 7% 10% -11% 52% -11% $ 56,889,255.22 MI6 Minerals260Limited 0.125 -7% -14% -4% 0% -4% $ 248,079,999.96 IGO IGO Limited 3.885 -8% -6% -21% -35% -19% $ 3,066,934,642.65 GAL Galileo Mining Ltd 0.105 -19% -9% -13% -49% -16% $ 20,750,617.34 RXL Rox Resources 0.295 2% 5% 64% 111% 48% $ 216,100,888.87 PTN Patronus Resources 0.07 6% 21% 43% 25% 43% $ 114,617,846.28 CLZ Classic Min Ltd 0.001 0% 0% 0% -50% 0% $ 2,790,941.81 TGM Theta Gold Mines Ltd 0.135 -4% 13% -27% -4% -25% $ 118,722,864.51 FAL Falconmetalsltd 0.13 -7% 0% 0% -48% 13% $ 26,550,000.00 SPD Southernpalladium 0.6 0% 208% 0% 43% 0% $ 66,843,750.00 ORN Orion Minerals Ltd 0.011 0% -8% -27% -27% -27% $ 75,354,926.00 TMB Tambourahmetals 0.022 -12% -12% -4% -67% 5% $ 3,235,981.01 TMS Tennant Minerals Ltd 0.006 0% -14% -33% -70% -33% $ 6,395,342.49 AZY Antipa Minerals Ltd 0.74 -4% 35% 196% 517% 185% $ 434,657,168.25 PXX Polarx Limited 0.0075 -6% -6% 7% -32% 15% $ 17,816,257.34 TRE Toubani Res Ltd 0.29 -5% 7% 115% 57% 71% $ 74,618,436.37 AUN Aurumin 0.097 8% 45% 67% 162% 47% $ 47,448,973.82 GPR Geopacific Resources 0.0225 -6% 18% 16% 10% 13% $ 73,196,702.50 FXG Felix Gold Limited 0.145 -3% -3% 67% 174% 73% $ 59,630,786.15 ILT Iltani Resources Lim 0.225 2% -6% 25% -32% 10% $ 12,922,541.66 BRX Belararoxlimited 0.06 0% -48% -67% -69% -66% $ 9,308,947.43 TM1 Terra Metals Limited 0.048 14% 60% 118% 55% 71% $ 23,894,848.30 TOR Torque Met 0.125 -4% 26% 145% -14% 136% $ 64,854,955.88 ARD Argent Minerals 0.022 -15% 22% 29% 47% 29% $ 31,815,090.56 LM1 Leeuwin Metals Ltd 0.1325 -5% 2% 121% 128% -5% $ 12,600,798.00 SX2 Southgold Consol 7.935 5% 37% 0% 0% 0% $ 1,114,325,536.00 UVA Uvrelimited 0.09 0% -10% 6% -18% 1% $ 5,418,000.09 VTX Vertexmin 0.26 -13% 11% 41% 206% 25% $ 56,478,241.96 Zuleika Gold (ASX:ZAG) Mark Creasy backed Zuleika Gold has a bone to pick with $1.5 billion ASX gold miner Catalyst Metals (ASX:CYL) through no smaller a forum than the WA Supreme Court ... actually it's a bone that's already been picked with Vango Mining, which Catalyst acquired a couple years back. It's going to head there in October this year to find out the quantum of damages payable by Catalyst after the Supreme Court found in March 2022 that entities now owned by Catalyst had wrongfully repudiated a JV agreement which "prevented Zuleika from earning up to 50% of the beneficial interest" in the tenement hosting the K2, K1 and PHB-1 prospects and the K2 Area at its project in the Plutonic gold district. 'It has taken five long years to get to this stage but, on behalf of and for all Zuleika Shareholders, I am pleased we can finally present to the Supreme Court the significant opportunity lost to us when the Catalyst Entities breached Zuleika's rights under the BTS Agreement," Zuleika exec chair Annie Guo said. 'This includes denying Zuleika's immediate beneficial interest in 4.1% of the Tenement and K2 Area, and therefore 4.1% of the underlying gold resource, and denying Zuleika the opportunity to earn in up to a 50% interest in the Tenement and K2 Area in alignment with the terms of the BTS Agreement. 'We long ago identified the potential and prospectivity of the Tenement and K2 Area and are not surprised that – today – they are earmarked to underpin the future of the Plutonic Gold Project. 'The Court has already confirmed that Zuleika was denied its rights under the BTS Agreement – and dismissed the Catalyst Entities' appeal – so Zuleika's focus now is to ensure we receive fair value for what is owed to us. 'Zuleika will provide further updates as this long-running litigation finally reaches its conclusion.' The 81,000oz K2 underground is now a planned satellite for Catalyst's Plutonic gold mine, with Zuleika claiming for losing the right to 50% of the K2 project, and unpaid entitlements under the sale agreement and royalty deed listed at $6m, legal costs and the transfer of a 4.1% beneficial interest in the tenement and K2 Area. Catalyst meanwhile has tried to distance itself from the situation, saying the Zuleika announcement, which references incidents that happened long before it acquired Vango Mining in 2023, is just the statement of trial dates and "conveys no new or material information". It says the dates have been known to Zuleika and Catalyst since they were set on April 11. "As to why these dates have only become material to Zuleika now is not known to Catalyst," the company said. "The Board of Catalyst considers this to be nothing more than an attempt to generate publicity and exert leverage against the defendants in the context of the forthcoming Supreme Court hearing," CYL told the ASX. Cazaly was up there in the past week after starting RC drilling at the Duke of York gold prospect. The 2000m drill program will test beneath historical gold workings at the target, part of its Goongarrie gold project to the north of Kalgoorlie. Historical drill intercepts at Duke of York included strikes of 13m at 3.5g/t and 8m at 10.7g/t on the margin of mafic and sedimentary rock under the old Duke of York workings. 'I am extremely pleased to announce that drilling has commenced at Duke of York, the first of many gold targets to be tested in this highly prospective district," MD Tara French said. "Our team has worked extremely hard to obtain approvals which places us on the ground less than 3 months after exercising the option to earn up to 80% of the Goongarrie Gold project with Brightstar Resources (ASX:BTR). "It's a very exciting time to be drilling beneath historical gold workings in the eastern goldfields, and we can't wait to see the results of this first drilling campaign.'
Reuters
12 hours ago
- Business
- Reuters
Dollar set to finish week on upbeat note buoyed by safe-haven appeal
June 20 (Reuters) - The dollar was set to log its biggest weekly rise in over a month on Friday, as uncertainties about a raging war in the Middle East and the repercussions it could have on the global economy fuelled an appetite for traditional safe havens. The dollar index comparing the U.S. currency against six others is poised for a 0.5% climb this week. The conflict between Israel and Iran shows no signs of subsiding and market participants are nervous about potential U.S. intervention in the region. The two countries have been in a week-long air battle as Tel Aviv seeks to thwart Tehran's nuclear ambitions and cripple the domestic government. The White House said U.S. President Donald Trump will make a decision within the next two weeks about whether to join Israel in the war. The resultant recent spike in oil prices added a new layer of inflation uncertainty for central banks across regions which have been grappling with the potential repercussions of U.S. tariffs on their economies. "Rising oil prices introduce inflation uncertainty at a time when growth is weakening," said Charu Chanana, chief investment strategist at Saxo. "That makes central banks' jobs much harder — do they ease to support growth or hold back to avoid fueling inflation? Most seem to be prioritizing growth concerns for now, assuming that crude gains may not be sustained." In early Asia trading, the euro inched up 0.16% to $1.151, while the dollar weakened against the yen by 0.17% to 145.23 per dollar. Also underpinning the yen's gains was hotter-than-expected inflation data that kept expectations for upcoming interest rate hikes alive. Furthermore, minutes from the Bank of Japan's policy meet this week showed policymakers agreed on the need to keep raising rates that are still at very low levels. The Swiss franc was flat at 0.816 per dollar on Friday but was set for its largest weekly drop since mid-April after the country's central bank lowered borrowing costs. Swiss rates now stand at 0%. Currencies positively correlated to risk sentiment such as the Australian and New Zealand dollars were steady, while sterling was little changed at $1.34. Although the Federal Reserve earlier this week stuck with its forecast of two interest rate cuts this year, Chair Jerome Powell cautioned against giving that view too much weight. Analysts saw the central bank's delivery as a 'hawkish tilt' further underpinning the greenback's gains this week. Investors were, however, taken aback by an unexpected 25 basis point interest rate cut by Norges bank and the krone is down by more than 1% against the dollar this week. Though geopolitical tensions were the main market focus this week, concerns about tariffs and the impact they may have on costs, corporate margins and overall growth are ever-present. These concerns have weighed on the dollar, which is down about 9% this year. Trump's early July tariff deadline looms and sources said that European officials are increasingly resigned to a 10% rate on "reciprocal" tariffs being the baseline in any trade deal between the U.S. and the EU. Elsewhere, the offshore yuan was little changed at 7.185 after China kept benchmark lending rates unchanged as expected.
Yahoo
19 hours ago
- Business
- Yahoo
Looking for a sign to put off buying an engagement ring? This just might be it.
Citigroup predicts that gold prices will drop below $3,000 per troy ounce. Analysts said they foresee the metal will return to as low as $2,500 by the second half of 2026. The expectation is based on Federal Reserve rate cuts and slowing investment demand. If you're in the market for some new gold jewelry, then it may be well worth waiting until next year. According to analysts at Citigroup, gold prices may start to sink from record highs and drop as much as 25% by the end of 2026. The New York-headquartered investment bank is expecting the precious metal to slump below $3,000 per troy ounce in late 2025 into 2026 owing to rate cuts by the Federal Reserve, slowing investment demand, and strengthening global economic prospects. "Our work suggests that gold returns to about $2,500 to $2,700 an ounce by the second half of 2026," the strategists wrote in a report. Gold prices were $3,385 per ounce as of roughly 8:30 a.m. ET on Wednesday, up close to 30% so far in 2025, and almost half since this time last year. The jump in value was driven by increased gold holdings by central banks, uncertainty regarding tariffs, the conflict in the Middle East, and concerns over a global economic slowdown. According to a European Central Bank report published last week, reserve banks purchased over 1,000 metric tons of the yellow metal in 2024, double the average amount bought in the previous decade. Gold's rise has also been fuelled by the "Sell America" trade, where investors sold off US Treasury bonds and US stocks at record high levels. The analysts said in the report that a decline in demand for the precious metal beginning in the last quarter of 2025 could come from "any modest improvement in global growth confidence as the stimulatory US budget passes and starts to take affect, as President Trump's trade and other economic policies become less bearish as the US midterms come into sight, and as the Fed cut rates towards neutral." In Citigroup's base case, with 60% probability, gold prices will consolidate around $3,100 to $3,500 per ounce in the third quarter of this year before starting to decline below $3,000 by late 2025 or early 2026. The most bullish scenario, with odds at 20%, sees a record high above $3,500 in the next quarter on fears regarding tariffs, geopolitical tensions, and stagflation. The worst-case scenario for the metal, also with 20% probability, involves a sell-off due to quick tariff rate resolutions, geopolitical de-escalation, and the US economy remaining resilient. Get the latest Gold price here. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
a day ago
- Business
- Globe and Mail
NEM, B, KGC: Central Banks Plan to Boost Gold Reserves to Record Levels
A new survey has found that central banks plan to further boost their gold reserves this year as they decrease their holdings of U.S. dollars over the coming five years. Confident Investing Starts Here: Geopolitical concerns, macroeconomic uncertainty, and concerns about the status of the U.S. dollar are driving central banks around the world to make record gold purchases. Gold recently overtook the Euro currency to become the world's second-largest reserve asset, behind the U.S. dollar. Gold prices have risen 30% this year and doubled in the last two years as global uncertainty and market volatility have propelled central bank demand for bullion. Now, a record 95% of central bank respondents to a World Gold Council survey say they expect their gold holdings to increase over the next 12 months. That's the highest level since the annual poll started in 2018 and potentially good news for gold mining companies such as Newmont (NEM), Barrick Mining (B), and Kinross Gold Corp. (KGC). Dumping U.S. Dollars Meanwhile three-quarters (75%) of central banks said they expect their U.S. dollar holdings to decline over the next five years. A total of 70 central banks responded to the survey. Another key finding of the survey is that, due to geopolitical tensions, many central banks plan to store gold domestically rather than in New York or London, the world's two largest repositories of the precious metal. The U.S. government's erratic approach to global affairs under U.S. President Donald Trump has contributed to unease among many central banks. Central bank gold buying has accelerated since Russia invaded Ukraine in 2022. There is also a move among central banks to diversify away from the U.S. dollar. Gold is currently trading at $3,404.70 per ounce and is not far from its all-time high of just over $3,500. GLD Performance The SPDR Gold Shares (GLD) exchange-traded fund (ETF) holds physical gold and tracks the spot price movements of the precious metal. As one can see in the chart below, GLD has risen 10.91% in the last three months.
Zawya
a day ago
- Business
- Zawya
As war and tariffs fog the outlook, some central banks trim rates
The Swiss and Norwegian central banks became the latest European rate-setters to ease monetary policy on Thursday, citing a weaker inflation outlook that contrasted sharply with the Federal Reserve's warnings about higher U.S. prices. The Bank of England kept rates on hold as expected, while flagging that they would remain on a "gradual downward path" in a finely balanced statement that also acknowledged "heightened unpredictability" in the global environment. U.S. President Donald Trump's haphazard threats of heavy trade tariffs and an escalating Israel-Iran conflict have left top central banks trying to steer policy in conditions of near-unprecedented uncertainty for the global economy. Speaking after a two-day meeting where Fed policymakers kept rates on hold, the U.S. central bank's chair Jerome Powell on Wednesday laid out how import tariffs imposed on America's trading partners will drive up prices for U.S. consumers. Trump is due in coming days to say whether tariffs currently pegged at a 10% baseline will rise - in some cases to more than double that level - in a move seen weakening the global economy and so keeping a lid on inflation pressures in many countries. "Inflationary pressure has decreased compared to the previous quarter," the Swiss National Bank said as it cut rates by 25 basis points to zero and did not rule out returning to negative rates. In a move that took most analysts by surprise, even Norway's central bank - long the most hawkish of major central banks - also cut its policy rate by 25 basis points said there were more cuts to come due to a more benign outlook for prices. "Inflation has declined since the monetary policy meeting in March, and the inflation outlook for the coming year indicates lower inflation than previously expected," Governor Ida Wolden Bache said of inflation which slowed to 2.8% in May. That mirrored the view taken by Sweden's central bank, which cut its key interest rate to 2.00% from 2.25% on Wednesday and said that, with price pressures weak, it may ease further before the end of the year to boost sluggish growth. On June 6, the European Central Bank cut its main interest rate for the eighth time in the past year and signalled a pause in policy easing at least next month because inflation was now safely back at its 2% target after three years of overshooting. CAUTION, LITTLE CONVICTION Earlier this week the Bank of Japan kept interest rates steady and said it would move cautiously in removing remnants of its massive, decade-long stimulus. Governor Kazuo Ueda said the BOJ's near-term focus was on downside risks, notably the hit from U.S. tariffs. The latest set of central bank decisions, covering most of the Group of 10 major currencies and their economies, gives a snapshot of the impact policymakers expect significantly less free global trade to have. For the U.S. economy, the Fed sketched a modestly stagflationary picture, with growth in 2025 slowing to 1.4%, unemployment rising to 4.5%, and inflation ending the year at 3%, well above the current level. Fed policymakers signalled borrowing costs are still likely to fall in 2025, but chair Powell cautioned against putting too much weight on that view. "No one holds these ... rate paths with a great deal of conviction, and everyone would agree that they're all going to be data-dependent," he said. For other economies, the consensus for now is that the tariffs will inevitably hit their local industries and so weaken growth and jobs - but at least their consumers will be spared the inflationary hit coming for their U.S. counterparts. That all could change, depending on whether the escalation of conflict in the Middle East drives oil prices substantially higher than the gains seen so far and whether America's trading partners end up retaliating with tariffs of their own. That will become clearer from July 9, when Trump has said countries will face higher tariffs across the board unless they reach a deal with him. (Additional reporting by Howard Schneider in Washington; Leika Kihara in Tokyo; Simon Johnson in Stockholm; Writing by Mark John; Editing by Catherine Evans)
