Gold and Silver Industry & Investing News

Bank of America Securities’ head of commodities research Francisco Blanch joins Bloomberg TV to examine several behind-the-scenes aspects of the gold market. He discusses the accounting practices of US gold holdings at Fort Knox, recent reports of gold movements from Bank of England vaults, and analyzes what a potential US revaluation of its gold reserves would mean for the broader market. These insights offer viewers a rare glimpse into the closely guarded world of national gold reserves and their market implications.

The global copper market is seeing positive supply signals as Chile’s Codelco, the world’s largest copper producer, shows signs of reversing its production decline. Investors are responding favorably, with Codelco’s bonds outperforming both Chilean companies and global miners over the past month. Chile posted record copper export revenue in January, indicating improved market conditions and production recovery. After hitting a 25-year low in 2023, Codelco’s output is finally turning around under CEO Ruben Alvarado’s leadership, with delayed projects coming online that will tap richer ore deposits in aging mines—a critical development for global copper supply.

After an extraordinary profit boom in 2022-2023, commodity trading is experiencing a market correction with industry earnings down over 30% in 2024 and similar performance expected in 2025. This normalization follows a period when high volatility attracted new competitors and encouraged expansion. Despite current margin compression, long-term projections remain strong, with trading value pools expected to reach $115 billion in EBIT by 2030. The energy sector has been most affected, with oil and oil products falling 40% and LNG declining 23%. Power, gas, and agricultural markets also contracted significantly, while metals and mining bucked the trend with 20% growth. The...

Following gold’s exceptional 2024 performance, World Gold Council experts John Reade and Joe Cavatoni are analyzing gold’s role in investment portfolios amid heightened uncertainty. With Trump’s return to office, multiple factors including tariffs, economic growth, interest rates, and immigration policies could significantly impact gold prices. The World Gold Council continues its mission to promote gold as a strategic asset while providing research and analysis to help investors navigate these complex market conditions.

Equinox Gold and Calibre Mining are joining forces in a transformative merger that will establish Canada’s second-largest gold producer, with an estimated market capitalization of C$7.7 billion. The combined entity, operating under the Equinox Gold name, will control a diverse portfolio of mines across five countries, anchored by two major Canadian projects: the recently operational Greenstone mine in Ontario and the near-completion Valentine project in Newfoundland and Labrador. The merger promises immediate production strength, with projected output of 950,000 ounces of gold in 2025, potentially expanding to over 1.2 million ounces annually at full capacity. Under the agreement, Equinox shareholders...

Gold continues its strong performance, trading over $2,940 per ounce after eight consecutive weeks of gains. The precious metal’s strength is primarily fueled by substantial investments in gold-backed ETFs, which saw their biggest inflows since 2022. Goldman Sachs has responded by raising its year-end target to $3,100, citing central bank purchases and expanding ETF holdings as key drivers. The weakening U.S. dollar, combined with recent data showing slowed business activity and waning consumer confidence, has led traders to anticipate Federal Reserve rate cuts starting in July 2025.

The latest episode of Unearthed brought together key industry experts to examine the complex factors influencing today’s gold market. World Gold Council Senior Market Strategists Joe Cavatoni and John Reade hosted Financial Times’ US financial markets editor Robert Armstrong, known for his Unhedged newsletter, for an in-depth discussion. The conversation delves into three major market drivers: evolving US fiscal policies, growing geopolitical tensions, and shifting bond yield dynamics, exploring their combined impact on both broader financial markets and the gold industry specifically.

Silver markets showed strong upward momentum on Thursday, pushing against recent resistance levels. The market is testing resistance established by last Friday’s shooting star pattern, with a breakthrough potentially opening the path to $35. While the longer-term outlook remains bullish, strong support levels at $32.35 and $32 could provide buying opportunities during pullbacks. Though silver typically follows gold’s lead, with gold showing some weakness in early futures trading, market participants are advised to monitor both metals closely. The current market sentiment favors buying on dips rather than taking short positions.

Fort Knox, America’s most secure gold depository, is back in the spotlight as President Trump announces an inspection by Elon Musk to verify its gold reserves. Built like a fortress in 1936, Fort Knox is famous for being virtually impenetrable. Its walls are made of enormous amounts of granite, concrete, and steel. The security is so tight that in its entire history, only three groups have ever been allowed inside: President Franklin Roosevelt, a group of journalists and Congress members in 1974, and Treasury officials in 2017. While Treasury Secretary Bessent insists that yearly audits show all the gold is...