Latest news with #Commerzbank
Hindustan Times
a day ago
- Business
- Hindustan Times
Silver prices dip slightly in US; spot at $36.44 per ounce
Silver prices in the US edged down on Friday, with the spot price around $36.44 per ounce, based on Reuters report. At the same time, other platforms showed slight differences in prices. Silver prices in the US dropped down on Friday, with the spot price around $36.44 per ounce.(Unsplash) Monex listed silver at $36.59, and JM Bullion showed it at $36.15. These small gaps are normal due to timing differences in live market updates. Yesterday, the price of silver reached about $36.49 per troy ounce, as reports. Apart from that, Spot gold fell 1.3% to $3,283.56 per ounce by 0839 GMT—its weakest since late May. Gold has now lost over 2% this week and more than $200 since its all-time high back in April. futures were also down 1.6% to $3,295.70. O .Yesterday, the price of gold in US was $3,330 per ounce. Other metals also saw price shifts Platinum fell 3.8% to $1,363.66 after reaching a peak not seen since 2014. Palladium slipped 0.2% to $1,129.98. According to Commerzbank, the jump in platinum earlier this week may have been due to its price gap with gold, which some investors now see as overpriced. Also Read: Silver prices today in US rise sharply to $36.29 on June 26, 2025 Global tension eases as Iran-Israel ceasefire The easing of global tensions is one reason for gold's slide. The Iran-Israel ceasefire, arranged earlier this week by US President Donald Trump, remains in place. In another development, a White House official said Thursday that the US and China have reached an agreement to speed up shipments of rare earths to the US Other metals also saw price shifts. Platinum fell 3.8% to $1,363.66 after reaching a peak not seen since 2014. Palladium slipped 0.2% Palladium slipped 0.2% to $1,129.98. According to Commerzbank, the jump in platinum earlier this week may have been due to its price gap with gold, which some investors now see as overpriced.
Zawya
a day ago
- Business
- Zawya
Sterling keeps climbing on struggling dollar
LONDON - The pound was set for its biggest weekly gain against the dollar in nearly four months on Friday and held close to its near four-year high hit the previous day, though that was more due to dollar weakness than sterling strength. The pound was last up 0.14% on the dollar at $1.13745, just off Thursday's top of $1.37701, the highest since late 2021. It was broadly steady on the euro, at 85.24 pence, underlining the fact that the move in the pound against the dollar - referred to as cable by financial markets - has much more to do with the dollar. "The gains in cable reflect mostly this year's weakness in the dollar and the strength of the euro, which has dragged the pound higher due to the limited parameters of the EUR/GBP trading range," Rabobank analysts said in a note. The pound has gained 2.2% against the dollar this week, its most since early March, as the greenback's short-lived gains during the Israel-Iran conflict fade. The main domestic support for the pound this year has come from the Bank of England being slower to cut interest rates than peers, particularly the European Central Bank, as inflation remains sticky. "Core inflation in the UK has basically stopped moving for the past year - hard to say why. BoE officials are quite concerned. That makes it difficult to cut rates and also the economic outlook is not improving," Michael Pfister, FX analyst at Commerzbank, said. Analysts also said they were watching this week's political drama given what Rabobank described as "the overhang of a very large debt/GDP ratio and a UK current account deficit." Prime Minister Keir Starmer this week sharply scaled back planned welfare cuts after more than 100 of his Labour Party lawmakers publicly opposed the reforms, which sought to shave 5 billion pounds ($6.9 billion) per year off a rapidly rising welfare bill. (Reporting by Alun John and Lucy Raitano; Editing by Andrew Heavens)
Reuters
a day ago
- Business
- Reuters
Sterling keeps climbing on struggling dollar
LONDON, June 27 (Reuters) - The pound was set for its biggest weekly gain against the dollar in nearly four months on Friday and held close to its near four-year high hit the previous day, though that was more due to dollar weakness than sterling strength. The pound was last up 0.14% on the dollar at $1.13745, just off Thursday's top of $1.37701, the highest since late 2021. It was broadly steady on the euro, at 85.24 pence, underlining the fact that the move in the pound against the dollar - referred to as cable by financial markets - has much more to do with the dollar. "The gains in cable reflect mostly this year's weakness in the dollar and the strength of the euro, which has dragged the pound higher due to the limited parameters of the EUR/GBP trading range," Rabobank analysts said in a note. The pound has gained 2.2% against the dollar this week, its most since early March, as the greenback's short-lived gains during the Israel-Iran conflict fade. The main domestic support for the pound this year has come from the Bank of England being slower to cut interest rates than peers, particularly the European Central Bank, as inflation remains sticky. "Core inflation in the UK has basically stopped moving for the past year - hard to say why. BoE officials are quite concerned. That makes it difficult to cut rates and also the economic outlook is not improving," Michael Pfister, FX analyst at Commerzbank, said. Analysts also said they were watching this week's political drama given what Rabobank described as "the overhang of a very large debt/GDP ratio and a UK current account deficit." Prime Minister Keir Starmer this week sharply scaled back planned welfare cuts after more than 100 of his Labour Party lawmakers publicly opposed the reforms, which sought to shave 5 billion pounds ($6.9 billion) per year off a rapidly rising welfare bill.
Reuters
a day ago
- Business
- Reuters
South Africa's rand flat, traders eye coalition tension
JOHANNESBURG, June 27 (Reuters) - The South African rand was largely flat in early trade on Friday after sharp falls a day earlier, with traders keeping an eye on a potentially disruptive dispute between President Cyril Ramaphosa and his main coalition partner. The currency was 0.1% higher against the dollar at 17.8550 at 0947 GMT, a day after Ramaphosa, of the African National Congress (ANC), fired the deputy trade minister, from the Democratic Alliance (DA), without giving a reason. DA spokesperson Karabo Khakhau told broadcaster Newzroom Afrika that Ramaphosa has until 1330 GMT on Saturday to either reinstate their member or remove three ANC members who the DA says are implicated in corruption. Commerzbank analyst Volkmar Baur said in a research note this tension going into the weekend could weigh heavily on the local currency On Monday, investor attention will also be on May credit extension and money supply data (ZACRED=ECI), opens new tab, (ZAM3=ECI), opens new tab trade balance (ZATBAL=ECI), opens new tab and budget balance (ZABUD=ECI), opens new tab data for the same month. South Africa's benchmark 2035 government bond fell sharply in early deals, as the yield rose 12.5 basis points to 10.08%.
Globe and Mail
2 days ago
- Business
- Globe and Mail
The Smart Money Case for Gold Stocks Is Getting Harder to Ignore
Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER – News Commentary – Gold is back in the spotlight as major banks ramp up their bullish forecasts, with Bank of America recently projecting a surge to $4,000 per ounce. Unlike past predictions tied to geopolitical risk, BoA now points to America's mounting debt load as the core catalyst. Commerzbank shares a similar outlook, noting that gold's recent move past $3,400 could be just the beginning. With multiple analysts now expecting a continued run, many believe mining stocks are still lagging far behind bullion's trajectory. Among those attracting renewed investor attention are Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Integra Resources Corp. (TSXV: ITR) (NYSE-American: ITRG), New Found Gold Corp. (TSXV: NFG) (NYSE-American: NFGC), Rio2 Limited (TSXV: RIO) (OTCQX: RIOFF), and IAMGOLD Corporation (NYSE: IAG) (TSX: IMG). State Street Global Advisors continues to view gold as a strategic asset, highlighting both its staying power and upside potential. Jefferies analysts, meanwhile, believe the market hasn't caught up—arguing that many gold equities still trade as if bullion were stuck at $2,500, even as prices push well beyond that level. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is accelerating its push toward potential near-term production with the launch of a 7,750-meter drill program at Area C, the highest-grade zone within its fully permitted Imwelo Gold Project in northwestern Tanzania. Designed to support final mine planning and de-risk initial pit design, the campaign targets both grade control and deeper extensions to help shape what could become the project's first open-pit operation. 'We've designed this program to maximize Imwelo's short-term production readiness while extending the upside case,' said Marc Cernovitch, President and CEO of Lake Victoria Gold. 'The drill data will help us finalize early mine scheduling, validate pit design, and potentially unlock high-grade extensions. With Area C now fully defined as our initial production zone, we're making meaningful progress toward becoming Tanzania's next gold producer.' The program includes 3,750 meters of RC drilling on a tightly spaced 10x10 metre grid to define early-stage ore/waste boundaries, supported by another 4,000 meters of strike and depth extension drilling. Intercepts to date from Area C include 6.8 meters at 14.6 g/t gold and 2 meters at 7.5 g/t—results that have positioned it as a compelling starting point within the broader resource footprint. Completion is targeted for Q3 2025, with construction decisions expected to follow based on final engineering and economic evaluations. 'We've optimized this program to deliver multiple layers of value—from detailed grade control to geotech validation and deeper exploration,' said Seth Dickinson, P. Eng., Chief Operating Officer of Lake Victoria Gold. 'The step-out and depth targets are especially compelling given the structural complexity we've seen to the west. The team is focused on accelerating toward a clean construction start with maximum technical confidence.' Imwelo is located just 12 kilometers from AngloGold Ashanti's Geita Mine and sits atop the Geita Greenstone Belt, one of Tanzania's most productive gold terrains. The project holds a 10-year mining license and is backed by a 2021 prefeasibility study outlining a scalable, low-capex development plan. With recoveries above 90% and contractor support from Taifa Mining —Tanzania's largest mining services group—the company is now advancing preparations to support a potential construction decision. In parallel, Lake Victoria Gold continues to advance its high-priority Tembo Project, where a 3,000-meter drill program is planned at Ngula 1. This near-surface target has returned past intercepts of 28.57 g/t gold over 3 meters and 17.23 g/t over 4 meters. The current work is focused on confirming toll-milling potential while expanding geological understanding across the broader structural corridor—located adjacent to Barrick's Bulyanhulu Mine. Barrick's Bulyanhulu (Buly) joint venture is quietly building shareholder exposure to potential long-term upside. Barrick and its partner (the Government of Tanzania) have now completed over 21,600 meters of drilling across six non-core licenses acquired from LVG in 2021—having already spent more than US$5.56 million out of a US$9 million commitment. This is all part of Buly's commitment that was made as part of the Asset Purchase Agreement (APA) signed in December 2021, under which Buly acquired six non-core prospecting licenses from LVG. In addition to the US$6M upfront consideration received, LVG retains exposure to future exploration success through contingent payments of up to US$45 million tied to gold discoveries on the Project. To support its near-term pathway, Lake Victoria Gold has signed a non-binding LOI with Nyati Resources for potential toll milling at Nyati's nearby 120-tpd processing plant. A new 500-tpd facility is expected to come online in the months ahead. Third-party firm Nesch Mintech Tanzania has been brought in to assess the plant's performance and technical readiness, and to help outline any modifications needed to support production. Tembo's current 45-hole RC campaign at Ngula 1 is targeting near-surface gold zones with toll-milling potential, building on historical intercepts like 28.57 g/t gold over 3 meters and 17.23 g/t over 4 meters. By focusing on shallow targets first, LVG is aiming to establish early production optionality while advancing structural understanding of a district-scale system. To support its development strategy, LVG has secured a gold prepay agreement with Monetary Metals tied to up to 7,000 ounces of future output, alongside a recent C$3.52 million equity investment from Taifa Group —part of a three-tranche investment set to total C$11.52 million. With field activity ramping up at both projects and financing structures in place, LVG continues to execute on a phased growth model in one of Africa's most prospective gold belts. In other industry developments and happenings in the market include: Integra Resources Corp. (TSXV: ITR) (NYSE-American: ITRG) recently marked a key milestone with its first full quarter of gold production, generating 19,323 ounces at Florida Canyon and achieving average realized gold prices of $2,888/oz. Adjusted earnings reached $4.4 million, and operating cash flow came in at $16.1 million, helping to lift its cash balance to $61.1 million. "The mine continues to demonstrate its ability to generate cash flow to support Integra's growth strategy, which was the basis for its acquisition in late 2024,' said George Salamis, President, CEO and Director of Integra. 'The focus for the remainder of 2025 continues to be optimizing and demonstrating growth at Florida Canyon, significant permitting advancement and a feasibility study planned for DeLamar, and continued de-risking activities and advanced study work at Nevada North." The company is deploying capital into mine-site upgrades, pre-stripping, and leach pad expansion to boost Florida Canyon output. Meanwhile, permitting efforts continue at DeLamar, and study work advances at Nevada North, positioning Integra for multi-asset growth in the Great Basin. New Found Gold Corp. (TSXV: NFG) (NYSE-American: NFGC) has expanded its 2025 work program at the Queensway Project in Newfoundland, allocating C$40 million toward a 300,000-meter drill program across multiple zones. "With the recent closing of our bought deal financing, the Company is well-financed to expand our 2025 work program,' said Melissa Render, President of New Found Gold. 'The primary focus remains the key deliverables to advance Queensway on the path to development." The initiative aims to build on existing resource growth at Iceberg, Keats, and Lotto, while ramping up generative drilling along the Appleton and JBP Faults. Additional metallurgical testing, engineering, and baseline environmental studies are also underway to support potential future development. Rio2 Limited (TSXV: RIO) (OTCQX: RIOFF) recently confirmed that its Fenix Gold Project remains on track and on budget for initial gold production in January 2026, with construction reaching 19% completion by the end of Q1 2025. The $30.1 million spent to date aligns with planned expenditures, as work continues on critical elements like the leach pad, ADR plant, and PLS pond. The company has also begun grade control drilling across pit areas earmarked for the first three years of production. Upcoming milestones include ADR plant commissioning by November and mine expansion study completion in December. IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) confirmed a major milestone at its Côté Gold Mine, reaching nameplate processing throughput of 36,000 tpd over a 30-day period. This marks a successful ramp-up just 15 months after first gold, and solidifies confidence in 2025 production guidance of 360,000 to 400,000 ounces. "To bring a gold project from first gold to the design nameplate rate within this timeframe, while ensuring a safe workplace for all, exemplifies the commitment to excellence and accountability that is at the core of IAMGOLD today," said Renaud Adams, President and CEO of IAMGOLD. "Further, we are excited at the opportunities the installation of the second cone crusher will bring, including improving plant availability and maintenance cycles, while providing potential for further throughput increases." With additional upgrades in motion, the company is now positioning Côté as a cornerstone asset in its long-term growth strategy. cs@ (250) 999-4849 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. is owned by Media Corp. ('BAY'). BAY has been paid a fee for Lake Victoria Gold Ltd. advertising and digital media from a shareholder of the Company (333,333 unrestricted shares). There may be 3rd parties who may have shares of Lake Victoria Gold Ltd., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of 'BAY' reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. 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