News

The gold market is finding its feet again as it looks to end the week testing critical resistance at $2,050 an ounce.

Chile-focused miner Antofagasta (LSE: ANTO), one of the world's senior copper producers, announced today it has acquired beneficial ownership of approximately 19% of the outstanding shares of Peruvian precious and base metals producer Buenaventura (NYSE: BVN).

A new type of gold fever has hit the retail market as Costco can't keep enough of the precious metal on its digital shelves.

Bitcoin (BTC) breached the $42,000 level of support on Friday morning, with the broader crypto ecosystem trending downward as markets approach the end of an eventful and volatile week of trading.

Gold prices dipped after the latest data from the New York Federal Reserve showed an unexpected and sharp decline within its region's manufacturing sector last month.

Holiday magic is in the air as a $5 donation turned into $2,000 for Salvation Army volunteers in Vermont as they tallied up the money raised during their annual fundraising drive.

The Federal Reserve's signal that interest rates will be going lower in 2024 has created some healthy momentum in the gold market, and that will lead to record highs in the new year, according to one market strategist.

Bitcoin (BTC) broke above the $43,000 level on Wednesday after the FOMC rate decision and a decidedly dovish Powell press conference, and many tokens are seeing strong price swings in Thursday's trading.

Gold prices showed little reaction and remained range bound as the number of American workers applying for first-time unemployment benefits dropped significantly from last week.

Gold prices saw little reaction after retail sales came in well above market expectations in November, while October's print saw a downward revision.

With Bitcoin seeing strong price increases ahead of the new year, the leading cryptocurrency could be on the verge of another major run higher, with one bank looking for prices to more than double from current levels by the end of 2024.

Federal Reserve chair Jerome Powell used his press conference to confirm that the members of the Federal Open Market Committee (FOMC) believe the current rate of 5.5 percent is the terminal rate and that they expect cuts in the future, but he refused to rule out future hikes if the economic situation warrants them.

Gold is expected to be the best-performing asset in the precious metals sector in 2024 as the world faces a potential recession, forcing investors to look for safe-haven assets, according to a European precious metals firm.

Bitcoin (BTC) is once again attempting a definitive breach above the $42,000 level on Wednesday ahead of the FOMC rate decision, with Ether (ETH) and some altcoins following the top crypto higher after most sustained significant losses to begin the week.

Gold's recent all-time highs above $2,150 an ounce are expected to bring new attention to the mining sector in 2024, according to one portfolio manager.

Tuesday brought new legal developments for two of the highest-profile frauds in crypto history, Terraform Labs cofounder Do Kwon and FTX cofounder Sam Bankman-Fried.

After Monday's dramatic selloff pushed Bitcoin and prices across the broader cryptocurrency market sharply lower, Tuesday saw the leading crypto in a consolidation pattern, while most leading altcoins continuing their slide to lower levels.

Cryptos had a rough start to the week after Bitcoin gave back all the gains it made since Dec. 5 in the blink of an eye on Sunday evening before trending further downward in Monday trading, while altcoins, which had seen several of the leading tokens make double-digit gains for days on end, followed the top crypto sharply lower.

Gold's push above $2,000 in the last few weeks of 2023 could herald an even bigger move in 2024, according to the latest report from the World Gold Council (WGC).

The streak of inflows into digital asset investment products extended to another week, as the assets under management (AuM) for globally listed cryptocurrency products increased by $43 million during the week ending December 8.

Shares of Solaris Resources (TSX: SLS) (OTCQB: SLSSF) are trading lower today after the company announced a US$80 million financing package to fund the Warintza copper-gold project in Ecuador through studies and permitting.

Bitcoin gave back all the gains it made since Dec. 5 in the blink of an eye on Sunday evening, dropping from $43,343.37 just before 9 pm EST to $41,038.39 only 15 minutes later.

Barrick Gold (NYSE:GOLD) (TSX:ABX) announced yesterday that the Porgera mine in Papua New Guinea (PNG) is set to resume operations later this month and is expected to start pouring gold again in the first quarter of 2024.

According to some analysts, next week will be an important test for the gold market as a hawkish Fed could put downward pressure on a market that is already sensitive following Monday's blow-off top.

The gold market pared its earlier losses after the release of stronger-than-expected consumer sentiment data that also showed a sharp drop in inflation expectations.

Norway could soon become a metal detectorist destination as a novice treasure hunter has unearthed a very rare gold coin that originated in the Middle East.

Gold prices are likely to take a breather for the next week or two, but any pullbacks should be seen as opportunities to buy ahead of the 2024 bull market, according to Stewart Thomson, President of Graceland Investment Management.

Gold investors should expect to see some further selling pressure in the precious metal, according to some analysts who have said that the market has run too far ahead of rate expectations.

While gold has backed well off the all-time highs it set two days ago and Bitcoin has stolen the spotlight, the real bull market for gold and silver is only just beginning, according to Peter Schiff, founder of Schiff Gold and Chief Market Strategist of Euro Pacific Asset Management.

French miner Eramet said today that the company and its partner Électricité de Strasbourg (ÉS) inaugurate a pilot unit for the direct extraction of geothermal lithium in Rittershoffen, Eastern France.