For the second month in a row, high global prices kept China out of the global gold market in June. This news will disappoint any bulls who were hoping that the country would re-enter the country after prices fell by $100 per ounce from the total price in May. Time is peaking.
Data on China’s foreign exchange reserves and their composition, released through the government on Sunday, showed no increase in gold reserves in June. The People’s Bank of China (PBoC) bought metals in May, when prices hit an all-time high of $2,454 per ounce on the Comex futures market.
Sunday’s figure showed gold reserves were unchanged for the second straight month, at 72. 8 million troy ounces, after 18 consecutive months of buying in April.
The value, however, fell to $169. 7 billion from $170. 96 billion in May due to falling gold prices in June.
The price ended the first week of July at $2,399. 80, according to the ounce on the Comex. This represents an increase of $60 per ounce from June 28 (and at the end of the monthly and quarterly Comex) worth $2,339 per ounce.
In a mid-year assessment, the World Gold Council noted last week that steel is looking for a spark to continue trading in the second part of the year.
“Gold has performed remarkably in 2024, up 12% year-to-date (15% in AUD) and outperforming top primary asset classes,” the Council said in its update.
“Looking ahead, gold and the global economy appear to be waiting for a catalyst. In the case of gold, this will most likely be due to a combination of falling rates and bubbling geopolitical and market risks, which will attract more Western investment flows.
“However, a significant drop in central bank demands or widespread profit-taking through Asian investors may simply hurt gold’s performance,” the Board warned.
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Increases across the board of Deep Leads’ resources: quality, tonnage and target area ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at Deep Leads’ rare ion adsorption clay (IAC) earth deposit in northern Tasmania. The accumulation in MRE comes from 36 tested outlets, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trader, signed a memorandum of understanding for up to 25,000 t/yr. Subject to execution, this is a feat as Ford and Hanwa are poised to collaborate on long-term strategic partnerships with LKE. Commercial negotiations are still ongoing but should, namely whether Ford and Hanwa will inject new capital into LKE, removing additional risks in financing the task and thus ensuring that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for expansion of the existing MRE in Lake Throssell, as well as an opportunity for significant expansion in Lake Yeo. This reinforces the prospect of a multi-decade Tier 1 SOP production center around Lake Throssell.
TMG is currently completing work for the PFS planned in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and authorization activities. The effects of those systems will affect the PFS and any long-term resource updates.
The SOP reference values have increased to approximately $940/t due to recent geopolitical events. The October 2021 scoping study assumed an SOP value of $550/t and included a sensitivity study showing that every 10% increased value effects in a $144 million NPV increase in the $364 million task NPV. The increase of approximately 70% compared to the scoping study implies a NPV allocation of approximately $1. 4 billion.
Despite falling oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to show improvement in its main indicators.
WT Financial Group Limited (WTL) is a developing diversified monetary company, founded in 2010 and indexed on the Australian Stock Exchange (ASX) in 2015. Its recommendations and product offerings are provided primarily through an organization of monetary advisors independents who act as legal representatives. of WTL under its broker organization businesses Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisors in over two hundred money advice companies across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a full study report on ASX-listed biotech Immutep Ltd (ASX: IMM). It was so inspired by IMM that Corporate Connect found it imperative to publish a follow-up report valuing the company, as the market did not see the great prospects of eftilagimod alfa (efti).
This monitoring report is published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.