sezer66/iStock via Getty Images Alamos Gold (NYSE:AGI) said Monday it agreed to a prepayment gold sale of $116M in exchange for the delivery of 49,384 oz in 2025, using the proceeds to close out gold 2024-25 forward purchase contracts previously entered into by Argonaut Gold totaling 179,417 oz. Alamos (AGI)Continue Reading
rvimages/iStock via Getty Images While gold prices (XAUUSD:CUR) could face resistance near historical high, demand in the world’s second-largest consumer of gold, India, is likely to remain strong despite higher prices, helped by forecasts of above-normal rainfall and favourable macroeconomic backdrop, ANZ analysts said on Monday. Gold imports increased byContinue Reading
Gold prices were set for a third week of gains on Friday as easing inflation boosted optimism over a rate cut by the Federal Reserve, while Brent Crude prices (CO1:COM) rose above $86 a barrel, even though it was set for a weekly drop. Spot gold (XAUUSD:CUR), down -0.5% toContinue Reading
monsitj/iStock via Getty Images Gold futures rallied past $2,400/oz in Thursday’s trading following a surprise drop in U.S. consumer prices in June, raising hopes that the Federal Reserve will soon start cutting interest rates. The latest data from the Bureau of Labor Statistics showed a 0.1% decline in consumer prices,Continue Reading
Moussa81/iStock via Getty Images Montage Gold (OTCQX:MAUTF) said Wednesday that Côte d’Ivoire awarded the mining permit for the company’s Koné project, marking the final approval required to launch construction and operating activities. Montage (OTCQX:MAUTF) said it was awarded mining permits for both its Koné and Gbongogo deposits, which are validContinue Reading
monsitj/iStock via Getty Images Gold futures gained Wednesday, following the equity markets higher after comments from Federal Reserve Chair Jerome Powell raised expectations for lower interest rates soon. Two days of congressional testimony from Powell appeared to indicate a favorable tilt toward cutting rates, saying progress is being made inContinue Reading
Filograph/E+ via Getty Images Newmont (NYSE:NEM) +3.5% in Wednesday’s trading in a strong session for precious metals miners, as CIBC upgrades shares to Outperform from Neutral with a $61 price target, raised from $46. CIBC raises its gold price forecast to $2,290/oz in 2024 and $2,600 in 2025, and saysContinue Reading
Elevation Gold Mining (OTCQB:EVGDF) has announced that it has produced 6,380 ounces of gold from 696,373 ore tonnes processed with average grades of 0.35 g/t during Q2 2024. The Co. sold 7,070 ounces of gold during Q2 2024, an increase of 3% compared to Q2 2023. The most recently completedContinue Reading
Moussa81/iStock via Getty Images Orla Mining (NYSE:ORLA) +2.2% in Wednesday’s trading after reporting Q2 gold production at its Camino Rojo oxide mine in Mexico increased 11% Y/Y to 33,206 oz, well above analyst expectations of 29.5K oz according to FactSet. The company said it mined 1.9M metric tons of oreContinue Reading
bodnarchuk/iStock via Getty Images Caledonia Mining’s (NYSE:CMCL) Q2 gold production at Blanket Mine in Zimbabwe was 20,773 ounces, a 19% increase from the year-ago period, it said on Wednesday. H1 2024 gold production at Blanket was 37,823 ounces, a 13% increase on the 33,472 ounces produced in the first halfContinue Reading
