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The best-performing precious metal this week was gold, despite experiencing its first weekly loss due to tariff threats against Canada and Mexico, set to take effect on March 4. These threats led to a stronger U.S. dollar, which put pressure on gold. However, a sharp decline in Bitcoin, which lost 27% of its all-time high, triggered billions in redemptions from various Bitcoin ETFs. As a result, gold bullion ETFs benefited from this asset rotation.
Allied Gold launched a $500 million joint venture with UAE investment fund Ambrosia Investment Holding, targeting untapped high-grade deposits in Allied’s Mali operations, as announced on their website. With a combined 2.7M oz Au resource potential and gold prices staying above $2,800 per ounce, this partnership could boost production and re-rate Allied Gold’s valuations. Fortuna Silver Mines Inc.
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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