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The best performing precious metal for the week was gold, but still down 0.80%. MAG Silver provided its second-quarter attributable silver production of 2.19 million ounces, above CIBC’s expectations of 1.82 million ounces due to a combination of higher total tons processed, higher-than-expected grades, and recoveries.
Artemis Gold announced it had responded to a wildfire evacuation order issued across a region including its Blackwater Mine. The company proactively removed all non-essential staff and contractors from the site and took precautions to safeguard assets, with essential staff remaining on site. Management expects to resume full-scale construction activities in the short term, according to Canaccord.
Announcing the Union Budget, India’s Finance Minister Nirmala Sitharaman announced a cut in gold and silver import duties from 15% to 6% “to enhance domestic value addition in gold and precious metal jewelry in the country.”Chow Tai Fook’s shares slid to the lowest since June 2020, after the gold seller reported a 20% on-year retail sales drop in the first quarter.
is CEO and chief investment officer of U.S. Global Investors, Inc., a boutique investment advisory firm based in San Antonio that manages domestic and offshore funds specializing in the natural resources and emerging markets sectors. The company’s no-load mutual funds include the Global Resources Fund , the World Precious Minerals Fund and the Gold Shares Fund .
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