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GOLD: New Highs Reached on Friday.   

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  • The Belgian government is considering the sale of a portion of its gold reserves (valued at €20bn) to bolster its defense budget, according to L’Echo newspaper. 
  • Ramelius Resources Ltd. will acquire Spartan Resources Ltd. in a deal valuing the latter at A$2.4 billion with the combined entity expected to become a leading Australian gold producer, with output exceeding 500,000 ounces a year by 2030.
  • The relentless demand for gold ETF’s in India continued in February with net inflows of US$260m.  Whilst down from January it still represented the second highest total since records began.
  • Gold finished Friday at US$2,984.16 up +2.5% for the week.
  • Having reached a new high, trading through $3,000 briefly, gold retreated into the close as profit taking occurred.
  • Many strategists have revisited their gold forecasts for 2025 with some suggesting $3,500 as their target.
  • Gold opened Monday strongly initially touching $2,994.20 before settling to $2,990.30. 
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  • The Belgian government is considering the sale of a portion of its gold reserves (valued at €20bn) to bolster its defense budget, according to L’Echo newspaper. 
  • Ramelius Resources Ltd. will acquire Spartan Resources Ltd. in a deal valuing the latter at A$2.4 billion with the combined entity expected to become a leading Australian gold producer, with output exceeding 500,000 ounces a year by 2030.
  • The relentless demand for gold ETF’s in India continued in February with net inflows of US$260m.  Whilst down from January it still represented the second highest total since records began.
  • Gold finished Friday at US$2,984.16 up +2.5% for the week.
  • Having reached a new high, trading through $3,000 briefly, gold retreated into the close as profit taking occurred.
  • Many strategists have revisited their gold forecasts for 2025 with some suggesting $3,500 as their target.
  • Gold opened Monday strongly initially touching $2,994.20 before settling to $2,990.30.