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Yahoo
5 days ago
- Business
- Yahoo
Gold's Cheaper Precious Metals Peers Surge to Multi-Year Highs
(Bloomberg) -- Silver extended gains to trade just below a 13-year high while platinum hit highest level in more than two years, signaling growing investor appetite for precious metals used by the industrial sector. Next Stop: Rancho Cucamonga! ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Where Public Transit Systems Are Bouncing Back Around the World US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn The Global Struggle to Build Safer Cars Spot silver rose on Friday, following a 4.5% move in the previous session that saw it edge above $36 an ounce for the first time since February 2012. Platinum's rally continued, gaining as much as 1.2% to a high of $1,154.73 an ounce. The commodities were aided by technical momentum across the metals complex as well as improving fundamentals, with strong appetite for physical silver in India and resurgent Chinese platinum demand reinforcing the rallies, according to a note from Nicky Shiels, head of metals strategy at Geneva-based MKS PAMP SA. Silver — and oftentimes platinum — tend to trade in tandem with gold, which is seen as a time-honored haven in times of geopolitical uncertainty. Gold is up more than 40% in the past 12 months, as an expanding US-led tariff war boosted its safety appeal and central banks maintained elevated levels of buying. While silver and platinum — up 19% and 13%, respectively, in the 12-month period to Thursday — have lagged behind their more expensive precious metal peer, they are also valued by the industrial sector. Silver is a key ingredient in solar panels, while platinum is used in catalytic converters and laboratory equipment. Both markets are heading for a deficit this year, following several years where demand has outstripped supply. A hold above $35 remains a 'critical inflection point' for silver, and if sustained should reignite sidelined retail interest, MKS PAMP's Shiels said. Meanwhile, a potential renewal in demand for platinum-backed exchange-traded funds could produce a speculative rally, given sticky and elevated lease rates indicate the market is tightening, she added. Platinum ETF holdings are showing signs of picking up, and have expanded more than 3% since mid-May, according to data compiled by Bloomberg. Meanwhile inflows into silver-backed ETFs have continued to grow since February, with holdings up by nearly 8%. Meanwhile, palladium also benefited from growing positive sentiment across the precious metals complex, climbing as much as 1.2% on Friday. Gold rose 0.5% to $3,368.79 an ounce as of 11:40 a.m. in Singapore, putting it on track for a weekly gain of around 2.4%. The Bloomberg Dollar Spot Index was little changed. Elsewhere, investors will be looking ahead to a key US jobs report due later on Friday, following an unexpected jump in unemployment claims that boosted investors' bets the Federal Reserve will cut rates at least twice this year. Lower borrowing costs tend to benefit gold and other precious metals, as they do not pay interest. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. 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
The Print
03-06-2025
- Business
- The Print
Gold marginally higher; silver rises Rs 100/ kg
Silver prices went up by Rs 100 to Rs 1,00,200 per kg (inclusive of all taxes) on Tuesday. The precious metal of 99.5 per cent purity climbed Rs 200 to Rs 98,600 per 10 grams (inclusive of all taxes). New Delhi, Jun 3 (PTI) Gold prices gained Rs 70 to Rs 99,000 per 10 grams in the national capital on Tuesday, supported by rupee depreciation, according to the All India Sarafa Association. The rupee declined 21 paise to settle at 85.60 (provisional) against the US dollar on Tuesday, weighed down by a firm American currency and outflow of foreign funds. Meanwhile, spot gold in the global markets fell by USD 25.22 per ounce or 0.75 per cent to USD 3,356.41 per ounce. 'Gold prices are trading lower on profit-booking but underlying bias remains positive amid a rise in the safe-haven demand due to broad weakness in the US dollar, and escalation in the Russia-Ukraine war, rising economic uncertainty due to US-led tariff war,' Pranav Mer, Vice President, EBG of Commodity & Currency Research at JM Financial Services, said. HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said traders are now anticipating the release of US macroeconomic data, such as JOLTS Job Openings data, along with speeches from key Federal Open Market Committee (FOMC) members, will influence the bullion prices. PTI HG HG SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Yahoo
30-05-2025
- Business
- Yahoo
Gold Likely to Shine More on Demand Supply Imbalance: 5 Top Picks
Gold prices have been witnessing a northward journey in recent months, benefiting the stocks associated with yellow metal mining. On May 5, the spot gold price touched $3,415.57/ounce and it thereafter it stayed around $3,300/ounce. Stock prices of several gold miners have jumped year to date. The surge in gold price was driven by investor concerns over the U.S. government's escalating debt, weak demand for long-term treasury bonds and a declining dollar. The northward journey of the yellow metal is likely to continue as the World Gold Council said that the gold mining industry is suffering from a scarcity of the yellow metal deposits. On the demand side, several central banks of emerging economies are continuously buying the yellow metal. Moreover, the use of gold in energy, healthcare and technology is rising. Therefore, an eventual demand-supply imbalance is likely to drive gold prices. At this stage, it should be fruitful to invest in gold mining stocks with a favorable Zacks Rank. Five such stocks are: Franco-Nevada Corp. FNV, Newmont Corp. NEM, Kinross Gold Corp. KGC, Royal Gold Inc. RGLD and Agnico Eagle Mines Ltd. AEM. Each of our picks currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Central banks across the world are in the process of cutting interest rates in order to spur economic growth. A low market interest rate is beneficial for non-income-bearing bullions like gold. Moreover, a weak U.S. dollar has increased demand for dollar-denominated bullions like gold. The prolonged geopolitical conflicts between Russia and Ukraine the intensified war between Israel and Hezbollah, and political unrest in some major South-east Asian countries are concerns for the global political atmosphere. In this situation, the price of gold should remain buoyant as the yellow metal is known as a safe-haven investment. Market participants are optimistic about the gold mining industry's prospects. Giant investment bankers like Goldman Sachs and JP Morgan have forecasted that gold prices could climb to $4,000/ounce by 2026, suggesting continued bullish momentum. The chart below shows the price performance of our five picks year to date. Image Source: Zacks Investment Research Franco-Nevada is well-poised to deliver strong earnings growth aided by increased contributions from its streaming agreements. Contribution from buyouts and a healthy portfolio of royalty and streaming agreements will aid the growth of FNV. Even though the company has been facing lower output due to the production halt in Cobre Panama, it is likely to be offset by FNV's continued focus on cost management. FNV has a debt-free balance sheet and uses its free cash flow to expand the portfolio and pay out dividends. Gold prices have been on an uptrend in 2025, aided by geopolitical reasons, and the potential for monetary policy easing. This rise in gold price will also boost the results of FNV in the coming quarters. Franco-Nevada has an expected revenue and earnings growth rate of 31.5% and 29.9%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the last seven days. Newmont is making notable progress with its growth projects. NEM is likely to gain from several projects, including the Tanami expansion. The acquisition of Newcrest also created an industry-leading portfolio providing opportunities for significant synergies. NEM also remains focused on improving operational efficiency and returning value to its shareholders. Newmont has received full funds approval for its Ahafo North project, which has reached the execution stage. Commercial production for the project is expected to commence in second-half 2025. NEM remains committed to Ghana, investing $950 million to $1,050 million in development capital for Ahafo North. Newmont has an expected revenue and earnings growth rate of 2% and 20.1%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.2% over the last seven days. Kinross Gold has a strong production profile and boasts a promising pipeline of exploration and development projects. These projects are expected to boost production and cash flow and deliver significant value. KGC is focusing on organic growth through its Tasiast mine, where the Phase One expansion boosted production capacity, and the Tasiast 24K expansion further increased throughput and production. KGC's Manh Choh project at Fort Knox is expected to extend operations and benefit from higher gold prices. The Great Bear project in Ontario also offers a promising long-term opportunity with substantial gold resources. Higher gold prices should also boost KGC's profitability and drive cash flow generation. Kinross Gold has an expected revenue and earnings growth rate of 15.3% and 63.2%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.8% over the last seven days. Royal Gold has been benefiting from its solid streaming agreements. RGLD maintains a strong balance sheet, which is likely to drive growth in the upcoming quarters. This rise in metal prices, like gold and silver, will boost RGLD's results in the coming quarters. Even though RGLD is facing higher interest costs, it will be offset by the tailwinds. RGLD is focused on allocating its strong cash flow to dividends, debt reduction and new businesses. In 2024, RGLD repaid $250 million of debt, effectively eliminating its total debt. This provides the company with the scope to strengthen its portfolio. Royal Gold has an expected revenue and earnings growth rate of 24.1% and 35.2%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.4% over the last 30 days. Agnico Eagle Mines is focused on executing projects that are expected to provide additional growth in production and cash flows. AEM is advancing its key value drivers and pipeline projects. The Kittila expansion promises cost savings, while acquisitions like Hope Bay and the merger with Kirkland Lake Gold strengthen AEM's market position. Merger with Kirkland Lake Gold established the new Agnico Eagle as the industry's highest-quality senior gold producer. Higher gold prices are also expected to drive AEM's margins. Strategic diversification mitigates risks, supported by prudent debt management and maintaining financial flexibility. Agnico Eagle Mines has an expected revenue and earnings growth rate of 23% and 42.6%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 7.3% over the last 30 days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM) : Free Stock Analysis Report Kinross Gold Corporation (KGC) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report Franco-Nevada Corporation (FNV) : Free Stock Analysis Report Royal Gold, Inc. (RGLD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
Mint
29-05-2025
- Business
- Mint
Trump's tariffs blocked: Is it the right time to move money from gold to stocks? EXPLAINED
The Indian stock market benchmark indices, Sensex and Nifty 50, traded higher on Thursday, mirroring upbeat sentiment in global equities after a US federal court blocked President Donald Trump's tariffs from going into effect. Putting on hold the country-specific reciprocal tariffs imposed by Trump on the US's trading partners, the Manhattan-based Court of International Trade said the US Constitution gives Congress exclusive authority to regulate commerce with other countries that is not overridden by the president's emergency powers to safeguard the US economy. The decision sparked a global rally in equities and commodities, with the notable exception of gold, which lost its safe-haven appeal as risk appetite improved. Gold prices declined sharply, hitting their lowest levels in over a week. Spot gold price fell 0.6% to $3,271.17 per ounce, while US gold futures dropped 0.8% to $3,268.20. Domestically, the MCX gold rate also tracked the decline, falling 0.61% to ₹ 94,701 per 10 grams. 'Gold prices remain under pressure amid improving risk sentiment. The blocking of Trump's tariffs supports crude and base metal prices, but weakens the outlook for gold prices,' said Ajay Kedia, Director of Kedia Advisory. Kedia noted that gold prices have repeatedly failed to breach the ₹ 96,000 – ₹ 96,500 resistance zone. 'A weekly close below ₹ 95,000 may open the door for further downside toward ₹ 92,200. Major support is seen at ₹ 89,500,' he added. Mohit Gulati, CIO and Managing Partner of ITI Growth Opportunities Fund, cautioned against reading too much into the market's rally. 'The recent ruling has triggered a risk-on sentiment, but beneath the surface lies deeper instability. The US's oscillation between protectionism and liberalisation has eroded its credibility,' he said. Gulati emphasised that while investors may be tempted to rotate out of gold and into equities, the unpredictability of global economic policy reinforces bullion's role as a hedge against systemic volatility. 'While stocks may see a temporary bounce, gold's shine will persist as a universal asset in a multipolar world. In short: the market's euphoria is a mirage, but gold's value as a manifesto against fickleness is here to stay,' Gulati said. Prashanth Tapse, Senior Vice President (Research) at Mehta Equities, also pointed to the potential of a short-term rally in equities following the US court decision. 'The verdict has eased immediate concerns over trade wars, lifting US stock futures and boosting emerging markets like India. However, the broader uncertainty surrounding global trade policy persists and will likely contribute to continued market volatility,' he said. Tapse believes the next major trigger for Indian equities could be the anticipated US-India trade deal, expected in June 2025. 'That will be a key event to watch and could provide more clarity on the future trajectory of bilateral trade relations,' he noted.
Mint
29-05-2025
- Business
- Mint
Trump's tariff blocked: Is it the right time to move money from gold to stocks? EXPLAINED
The Indian stock market benchmark indices, Sensex and Nifty 50, traded higher on Thursday mirroring upbeat sentiment in global equities after a US federal court blocked President Donald Trump's tariffs from going into effect. Putting on hold the country-specific reciprocal tariffs imposed by Trump on the US's trading partners, the Manhattan-based Court of International Trade said the US Constitution gives Congress exclusive authority to regulate commerce with other countries that is not overridden by the president's emergency powers to safeguard the US economy. The decision sparked a global rally in equities and commodities, with the notable exception of gold, which lost its safe-haven appeal as risk appetite improved. Gold prices declined sharply, hitting their lowest levels in over a week. Spot gold price fell 0.6% to $3,271.17 per ounce, while US gold futures dropped 0.8% to $3,268.20. Domestically, MCX gold rate also tracked the decline, trading 0.61% lower at ₹ 94,701 per 10 grams. 'Gold prices remain under pressure amid improving risk sentiment. The blocking of Trump's tariffs supports crude and base metal prices, but weakens the outlook for gold prices,' said Ajay Kedia, Director of Kedia Advisory. Kedia noted that gold prices have repeatedly failed to breach the ₹ 96,000 – ₹ 96,500 resistance zone. 'A weekly close below ₹ 95,000 may open the door for further downside toward ₹ 92,200. Major support is seen at ₹ 89,500,' he added. Mohit Gulati, CIO and Managing Partner of ITI Growth Opportunities Fund, cautioned against reading too much into the market's rally. 'The recent ruling has triggered a risk-on sentiment, but beneath the surface lies deeper instability. The US' oscillation between protectionism and liberalization has eroded its credibility,' he said. Gulati emphasized that while investors may be tempted to rotate out of gold and into equities, the unpredictability of global economic policy reinforces gold's role as a hedge against systemic volatility. 'While stocks may see a temporary bounce, gold's shine will persist as a universal asset in a multipolar world. In short: the market's euphoria is a mirage, but gold's value as a manifesto against fickleness is here to stay,' Gulati said. Prashanth Tapse, Senior Vice President (Research) at Mehta Equities, also pointed to the potential for a short-term rally in equities following the US court decision. 'The verdict has eased immediate concerns over trade wars, lifting US stock futures and boosting emerging markets like India. However, the broader uncertainty surrounding global trade policy persists and will likely contribute to continued market volatility,' he said. Tapse believes the next major trigger for Indian equities could be the anticipated US-India trade deal, expected in June 2025. 'That will be a key event to watch and could provide more clarity on the future trajectory of bilateral trade relations,' he noted. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
