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The best performing precious metal for the week was silver, up 5.23%, in what seems like a precious metals market beginning to get real traction. Barrick Gold shares rose as much as 7.1% in early Monday trading, its biggest intraday gain since March 2023, after the gold miner’s second-quarter adjusted earnings per share beat the average analyst estimate, according to Bloomberg.
Lucara Diamond announced its second-quarter results with production from its open-pit Karowe mine , a miss due to slight differences in ore throughput. Earnings were also a miss due to lower-than-expected diamonds sold, according to Bloomberg. Pandora’s chief executive officer expects it will take less than 10 years before consumers buy more lab-grown diamonds than mined stones because they increasingly weigh up costs and climate impact when buying jewelry, according to Bloomberg.Based on the price performance during previous recessions, while gold outperformed other commodities before and during recessions, stocks tended to act differently.
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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