China's PBOC Keeps Buying Gold as Reserves Grow For Eighth Month
Bullion held by the People's Bank of China rose by 70,000 troy ounces last month, according to data on Monday. Its gold reserves have climbed by 1.1 million troy ounces — or about 34.2 tons — since the current run of purchases began in November last year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
29 minutes ago
- Yahoo
Nova Publicly Files a Registration Statement With the SEC
Melbourne, Australia, July 07, 2025 (GLOBE NEWSWIRE) -- Nova Minerals Limited ('Nova' and the 'Company') (NASDAQ: NVA) (ASX: NVA) (FRA: QM3), a gold, antimony, and critical minerals exploration stage company focused on advancing the Estelle Project in Alaska, U.S.A., announces that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ('SEC') relating to a secondary public offering of its American Depositary Shares ('ADSs'), each of which will represent 60 of the Company's ordinary shares of no par value each ('Ordinary Shares'), in the United States (the 'Offering'). All ADSs to be sold in the Offering will be offered by the Company. The number of ADSs to be offered is based on an assumed price of US$12.56 per ADS, which was the sale price of ADSs on the Nasdaq Capital Market on June 30, 2025. However, the final number of ADS and the public offering price for the Offering have not yet been determined. The Offering is subject to market conditions, and there can be no assurance as to whether, or when, the Offering may be completed or as to the actual size or terms of the Offering. The Offering will be conducted within the parameters of the authorities conferred upon the Company under ASX listing rules 7.1 and 7.1A. The Company intends to use the net proceeds of Offering for resource and exploration field programs, including additional drilling and exploration, feasibility studies, and general working capital. Upon completion of the Offering, the Company's Ordinary Shares will continue to be listed on the ASX under the symbol 'NVA,' quoted on the OTC Pink market under the symbol 'NVAAF' and the Frankfurt Stock Exchange under the symbol 'QM3' and the Company's ADSs and public warrants will continue to be listed on the Nasdaq Capital Market under the symbols 'NVA' and 'NVAWW,' respectively. ThinkEquity is acting as the sole book-running manager for the Offering. The Offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to and describing the terms of the Offering may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. Electronic copies of the preliminary prospectus are also available on the SEC's website at A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended ('Securities Act'). This announcement is being issued in accordance with Rule 134 under the Securities Act. About Nova Minerals Limited Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer. Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company's website. Forward Looking Statements This press release contains 'forward-looking statements' that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as 'anticipate,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'intend,' 'seek,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'target,' 'aim,' 'should,' "will' 'would,' or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, Gold and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, the availability of funding sources, the availability of collaborative relationships, permitting and such other assumptions and factors as set out herein. Apparent inconsistencies in the figures shown in the MRE are due to rounding. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in Gold prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labor costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development. These and other risks and uncertainties are described more fully in the section titled 'Risk Factors' in the Nova Minerals Limited's Annual Report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law. For Additional Information Please Contact Craig BentleyDirector of Finance & Compliance & Investor RelationsE: craig@ M: +61 414 714 196Error 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
Yahoo
29 minutes ago
- Yahoo
Shift in Consumer Spending Challenged Target (TGT) in Q2
ClearBridge Investments, an investment management company, released its 'ClearBridge Large Cap Growth Strategy' second quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the growth stocks rebounded from tariff uncertainty, with technology and communication services sectors leading in the return to a risk-on environment. The S&P 500 Index returned 10.9% in the quarter, while the technology-heavy NASDAQ Composite soared 17.7%. The benchmark, the Russell 1000 Growth Index, rose 17.8% in the quarter, outperforming the Russell 1000 Value Index. Against this backdrop, the strategy underperformed its benchmark in the second quarter. IT and communication services sectors contributed to the performance while the health care sector detracted. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second quarter 2025 investor letter, ClearBridge Large Cap Growth Strategy highlighted stocks such as Target Corporation (NYSE:TGT). Target Corporation (NYSE:TGT) is a US-based general merchandise retailer. The one-month return of Target Corporation (NYSE:TGT) was 6.93%, and its shares lost 28.55% of their value over the last 52 weeks. On July 3, 2025, Target Corporation (NYSE:TGT) stock closed at $104.06 per share, with a market capitalization of $47.28 billion. ClearBridge Large Cap Growth Strategy stated the following regarding Target Corporation (NYSE:TGT) in its second quarter 2025 investor letter: "After making progress on margin expansion through the first half of 2024, mass market retailer Target Corporation (NYSE:TGT) has more recently been challenged by continued shifts in consumer spending away from discretionary categories, like home and electronics, which make up the majority of the company's sales and carry higher margins. Tariffs on imports from China are likely to further pressure Target's business. Despite the company's execution to protect margins in a difficult operating environment, we see risks weighted to the downside, leading us to exit the position." A woman purchasing groceries at a Target store, with a cart full of products. Target Corporation (NYSE:TGT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 62 hedge fund portfolios held Target Corporation (NYSE:TGT) at the end of the first quarter, compared to 56 in the fourth quarter. While we acknowledge the potential of Target Corporation (NYSE:TGT) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Target Corporation (NYSE:TGT) and shared the list of stocks that Jim Cramer recently commented on. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. While we acknowledge the potential of TGT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
29 minutes ago
- Yahoo
Clearbridge Large Cap Growth Strategy Sold Adobe (ADBE) Due to Concerns Over Market Penetration and Competition
ClearBridge Investments, an investment management company, released its 'ClearBridge Large Cap Growth Strategy' second quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the growth stocks rebounded from tariff uncertainty, with technology and communication services sectors leading in the return to a risk-on environment. The S&P 500 Index returned 10.9% in the quarter, while the technology-heavy NASDAQ Composite soared 17.7%. The benchmark, the Russell 1000 Growth Index, rose 17.8% in the quarter, outperforming the Russell 1000 Value Index. Against this backdrop, the strategy underperformed its benchmark in the second quarter. IT and communication services sectors contributed to the performance while the health care sector detracted. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second quarter 2025 investor letter, ClearBridge Large Cap Growth Strategy highlighted stocks such as Adobe Inc. (NASDAQ:ADBE). Adobe Inc. (NASDAQ:ADBE) is a technology company that operates through Digital Media, Digital Experience, and Publishing and Advertising. The one-month return of Adobe Inc. (NASDAQ:ADBE) was -9.02%, and its shares lost 34.41% of their value over the last 52 weeks. On July 3, 2025, Adobe Inc. (NASDAQ:ADBE) stock closed at $379.31 per share, with a market capitalization of $160.903 billion. ClearBridge Large Cap Growth Strategy stated the following regarding Adobe Inc. (NASDAQ:ADBE) in its second quarter 2025 investor letter: "Following trims over the last several quarters, we exited a position in Adobe Inc. (NASDAQ:ADBE) due to concern about high levels of existing penetration of its product suite and competitive risks. AI won't be winner takes all, and Adobe is an example where we believe AI is lowering barriers to entry and increasing competitive pressure on the business. The due diligence that led us to sell Adobe is part of a broader analysis we have been conducting about the impact of agentic AI, software systems which complete tasks autonomously." A team of engineers and scientists collaborating at a workstation surrounded by their applications and solutions. Adobe Inc. (NASDAQ:ADBE) is in 13th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 111 hedge fund portfolios held Adobe Inc. (NASDAQ:ADBE) at the end of the first quarter, compared to 117 in the fourth quarter. In the fiscal second quarter of 2025, Adobe Inc. (NASDAQ:ADBE) reported revenue of $5.87 billion, representing 11% year-over-year growth. While we acknowledge the potential of Adobe Inc. (NASDAQ:ADBE) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Adobe Inc. (NASDAQ:ADBE) and shared the list of trending AI stocks on news and ratings. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. While we acknowledge the potential of ADBE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
