Mining Review 12th January 2025
Calibre Mining and Gold Road Resources both declared record gold production in December 2024, after slightly missing guidance earlier in the year.
The price of gold is climbing despite the US dollar and US Treasury rates climbing, a sign of political and economic uncertainty?
Faraday Copper Property – Arizona
City Investors Circle Mining Review 12th January 2025
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Calibre Mining and Gold Road Resources both declared record gold production in December 2024, after slightly missing guidance earlier in the year.
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The price of gold is climbing despite the US dollar and US Treasury rates climbing, a sign of politican and economic uncertainty?
It of course is absolutely the reason the precious metal is climbing when it should be falling. china has been buying again and despite the high US job numbers signalling a stop to imminent US rate cuts, the precious metals all rose in value, when in a normal market they would have fallen.
For UK investors invested in physical gold, and / or Australian, American, and Canadian stocks, the lower value of the pound increases the value of those investments, so it’s a useful hedge against the UK Labour party train wrecking the economy, which they seem determined to do in short order.
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After last week’s falls, industrial and base metals were positive this week. It just seems to flip flop from week to week at the moment depending upon analysts’ view of the Chinese economy and economic stimulus.
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G2 Goldfields was the star of the week, rising 10% as it prepares to spin out non core projects into G3.
West Red Lake Gold Mines posted some decent Pre-feasabilty numbers ahead of the resumption of mining in early 2025.
Early stage explorer Faraday Copper released some positive drill intersections including 30m at 0.78% copper.
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All the significant news from our watchlist companies can be accessed by clicking the links below to be taken to the full story.
Calibre Mining Deliversed a Record Q4 Gold Production of 76,269 Ounces
Faraday Copper Intersected 40.06 m at 0.78% Copper
West Red Lake Gold Mines Announced a Positive Pre-Feasibility Study for Madsen
G Mining Ventures Received a Vital Permit for Oko West
G2 Goldfields Announced Filing of Reports for Proposed Spin-Out
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| Metal Prices | Price | Weekly % change |
| Gold price in UK £ | £2211 | 3.90% |
| Gold | 2690 | 1.82% |
| Silver | 30.43 | 6.40% |
| Palladium | 968 | 4.82% |
| Platinum | 992 | 4.61% |
| Rhodium | 4725 | 5.59% |
| Copper | 4.06 | 3.05% |
| Nickel | 6.89 | 1.17% |
| Zinc | 1.28 | -3.76% |
| Tin | 13.58 | 6.09% |
| Cobalt | 10.91 | 0.00% |
| Manganese | 2.9 | 0.00% |
| Lithium | 9820 | -0.22% |
| Uranium | 72.9 | -2.02% |
| Iron Ore | 98.1 | -5.31% |
| Coking Coal | 195 | -4.41% |
| Thermal coal | 117 | -7.51% |
| Metal ETFs | Price | Weekly % change |
| GLD | 248.21 | 1.80% |
| GDX | 35.97 | 2.68% |
| GDXJ | 45.32 | 2.33% |
| Sil | 32.81 | 0.18% |
| SILJ | 10.46 | 1.26% |
| GOEX (PCX) | 31.02 | 1.87% |
| URA | 27.17 | -4.60% |
| COPX | 39.17 | 0.59% |
| HUI | 293.55 | 3.05% |
| Gold / Silver ratio | 88.40 | -4.31% |
| 10 yr Tbond (TNX) | 4.77 | 3.92% |
| 2 yr T bond US2Y | 4.38 | 3.06% |
| US index (DXY) | 109.64 | 0.59% |
| SPJXGD | 59.69 | 2.70% |
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Click HERE for live Spot Metal Prices
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Declaration
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