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Daily Dispatches
Barrick may sell its last Canadian gold mine to Discovery Silver
Submitted by admin on Tue, 2025-07-15 20:40 Section: Daily DispatchesBy Jacob Lorinc and Paula Sambo
Bloomberg News
Tuesday, July 15, 2025
Barrick Mining Corp. is in advanced talks to sell its last Canadian gold mine to Discovery Silver Corp., according to people familiar with the matter, as the firms seek to capitalize on the soaring price of the precious metal.
Discovery Silver is in the final stages of a process Barrick launched in April to sell the Hemlo gold mine in Ontario, according to the people, who asked not to be named.
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Ghana moves to hedge gold export prices to protect growth of reserves
Submitted by admin on Tue, 2025-07-15 20:32 Section: Daily DispatchesBy Moses Mozart Dzawu
Bloomberg News
via Mining Weekly, Bedfordview, South Africa
Tuesday, July 15, 2025
Ghana is working on a programme to hedge the price of gold exports as it seeks to shield earnings that have bolstered the central bank’s foreign reserves from future volatility, Bank of Ghana Governor Johnson Asiama said.
Increased production and higher prices have helped Africa’s top gold miner to boost gross international reserves to $11.1-billion, Asiama said today in the capital, Accra. The buffer is enough to cover 4.8 months of imports, he said.
Central banks increasingly buy gold from local mines as prices surge
Submitted by admin on Tue, 2025-07-15 20:20 Section: Daily DispatchesBy Lee Ying Shan
CNBC, New York
Tuesday, July 15, 2025
Central banks are increasingly looking to bolster their gold reserves. And they are turning to mines in their backyard to source the yellow metal.
Besides being cheaper, securing gold directly from mines helps support local industry and bolsters reserves without weighing on foreign exchange reserves, experts said.
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Cyrille Jubert: China and the revaluation of precious metals
Submitted by admin on Mon, 2025-07-14 13:40 Section: Daily DispatchesBy Cyrille Jubert
GoldBroker, London
Monday, July 14, 2025
Remember the cycles of the mining industry.
For multiple reasons,the price of extracted ore tends to fall, particularly due to competition. Thus, as a mine is operated, the metal content generally decreases, reducing its profitability until the company decides to close it. There are therefore periods during which the extraction of a particular metal is no longer profitable, leading to a sharp drop in production, and then, gradually, a shortage.
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Mongolia's central bank joins the international gold price management scheme
Submitted by admin on Mon, 2025-07-14 12:54 Section: Daily Dispatches12:52p ET Monday, July 14, 2025
Dear Friend of GATA and Gold:
In an essay posted today by the Official Monetary and Financial Institutions Forum, two officials of Mongolia's central bank report that the bank considers gold to be international money, is managing its gold reserves separately from the rest of its foreign exchange reserves, and admit that the bank is working with other central banks and London Bullion Market Association banks to help manage the gold price.
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Indian investors flock to silver as returns overtake gold's
Submitted by admin on Mon, 2025-07-14 12:22 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
via MSN News, Redmond, Washington
Monday, July 14, 2025
MUMBAI -- Indian investors, traditionally obsessed with stockpiling gold, are increasingly turning to silver, which was trading near a 14-year high today, as its returns this year outpaced those of gold.
Imports fill most of the demand in the world's largest consumer of silver, where domestic prices touched a record high of 114,875 rupees ($1,336) a kilogram as a production shortfall spurred investors' hopes for a further rally.
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Defense Department buys into rare-earths mining company
Submitted by admin on Sun, 2025-07-13 10:54 Section: Daily DispatchesMP Materials Seals Big Rare-Earths Deal with Defense Department to Break China's Grip
By Katha Kalia, Eric Onstad, and Ernest Scheyder
Reuters
Thursday, July 10, 2025
MP Materials today unveiled a multibillion-dollar deal with the U.S. government to boost output of rare earth magnets and help loosen China's grip on the materials used to build weapons, electric vehicles and many electronics.
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White House slams Fed over finances and cost overrun on HQ renovations
Submitted by admin on Sun, 2025-07-13 10:41 Section: Daily DispatchesBy Dan Burns
Reuters
Thursday, July 10, 2025
The White House on today launched a fresh attack on Federal Reserve Chair Jerome Powell, with a top Trump administration official saying Powell had "grossly mismanaged" the central bank, chastising him for running a deficit and for extensive cost overruns for building renovations.
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South Asian women might be the winners of the gold rush
Submitted by admin on Sun, 2025-07-13 10:17 Section: Daily DispatchesBy Ramishah Maruf
CNN, New York
Sunday, July 13, 2025
Every piece of gold that Farzana Ghani owns holds a memory.
She has intricate jewelry sets from her mother-in-law from her wedding in Pakistan; a gold chain gifted from her mother after she performed the Hajj, the Muslim pilgrimage; and gold coins to celebrate her daughter's birth.
And she will keep investing in gold, as prices for the metal reach record highs.
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Washington State to impose sales taxes on gold and silver
Submitted by admin on Sun, 2025-07-13 10:10 Section: Daily DispatchesBy Jason Sutich
KIRO-FM97.3, Seattle
Sunday, July 13, 2025
Beginning January 1, Washington residents could be required to pay a sales tax on gold, silver, and coins due to a new bill that recently passed the Washington State Legislature.
Ryan Hoolahan, the chief financial officer of Bellevue Rare Coins, explained the impact the new SB-5794 will have on the company's business and customers amid the commodity's positive performance in recent years, on "The John Curley Show" on KIRO Newsradio.
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