The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
The best performing precious metal for the week was gold, up 1.66%. Gold held near a new all-time high due to tariff threats and geopolitical tension. The metal's price was little changed near $2,935 an ounce after hitting a fresh record high of $2,947.01. Goldman Sachs raised its year-end target for gold to $3,100 an ounce, citing central bank buying, and predicted it could reach $3,300 if economic policy uncertainty persists.
Petra announced first-half 2025 financial results that indicated further reduction in costs, reports BMO, as the company continues to position itself for the diamond market weakness. However, Petra breached its loan covenants and has been granted a temporary waiver. Lenders are expected to re-engage with Petra following another round of planned restructuring. Richard Duffy has resigned as CEO - Vivek Gadodia and Juan Kemp have been appointed joint interim CEOs.
Gold and gold miners stand to benefit from gold’s scarcity and stability compared to the seemingly unlimited number of cryptocurrency projects, reinforcing its role as a safe-haven asset while Bitcoin faces increased competition and speculative volatility. Uganda deployed more forces to eastern Democratic Republic of Congo, highlighting the growing risk of a widening conflict in the unrest-prone, mineral-rich region.
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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