Gold Miners (Finally) Performing

The largest gold miners (+2 Million oz./yr.) have been having a stellar year as Gold rallies to new highs.

As usual, the most levered companies, $AU & $GFI, have been the out-performers.

Barrick $GOLD still underperforming

Gold Just Had Its Best Day Since 2023

Market Updates

GOLD +0.17% NEM +8.43% ABX +6.20% GFI +3.31% XAGUSD1! PL1!

News

Gold prices, which had tumbled from record highs over the past week, reversed course and rose roughly 3% today, the biggest percentage jump since October 2023.

Spot gold was up 3.4% at $3,085.50/ounce. At $88.10 a troy ounce, gold futures' daily gain was the precious metal's largest in dollar terms since March 24, 2020, when markets were being convulsed by Covid lockdown orders and investors were fleeing into the haven asset.

Today's move came amid a bond market rout overnight and in the morning, followed by a historic surge in stock prices in the afternoon after President Trump’s reversal authorizing a 90-day pause on new tariffs for many countries—except for China which got hit with a 125% rate, effective immediately.

Silver gained 3.1% to $30.80/oz., Platinum slipped 1.2% to $931.87, and Palladium was up 1.9% at $923.75

Shares of top miners Newmont NEM and Barrick Gold ABX up ~8% and 4.9%, respectively

U.S.-listed shares of South African miners: Gold Fields GFI up 7.5%, AngloGold Ashanti AU rises 8.9%, Harmony Gold HAR jumps 13.8% and Sibanye Stillwater SW.N> soars nearly 19%

Shares of Canadian miners: Kinross Gold K and Agnico Eagle Mines AEM up 7.6% and 4.5%, respectively.

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MasterMetals

@MasterMetals

$GOLD Barrick Q4, 2024 results

Finally some cash generation!

Production 3.91MM Oz. Gold @ AISC $1451/oz.

Net earnings +69% to $2.14 billion,

Adjusted net earnings +51% to $2.21 billion,

Attributable EBITDA +30% to $5.19 billion for 2024 — highest in a decade. 

YOY operating cash flow +20% to $4.49 billion,

Free cash flow, +100% to $1.32 billion,

Quarterly dividend of $0.10/share maintained, bringing total annual dividend paid to shareholders to $696 million, and a further $498 million in share buybacks.

Webinar: https://event.choruscall.com/mediaframe/webcast.html?webcastid=AGDEs6Zp

Full release here:
https://www.barrick.com/English/news/news-details/2025/q4-2024-results/default.aspx

Gold Miners waking up!

Nice day for the larger miners -- large cap no longer applies to these minnows... the biggest, $NEM & $AEM @ ±USD50BN each, are still worth less than what the mag 7 lose in a day... pic.twitter.com/1v3bDAVNfg

— MasterMetals (@MasterMetals) February 6, 2025

Break out spreading out among the Gold producers—even $SSRM. Can’t really say the same for $BTG… $AAUC.TO $AEM $LUG.TO $FVI.TO $FSM $EQX $MKO.V $CXB.TO $GMIN.TO $SKE.TO pic.twitter.com/M9ZMsbLdEn

— MasterMetals (@MasterMetals) February 5, 2025

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MasterMetals

@MasterMetals

Top 10 Largest #Gold Mines in South America

Top 10 largest gold mines in South America in 2022 - report

(Kitco News) - Kitco ranked the top 10 largest gold mines in South America in 2022 by production.

1. Paracatu, Brazil. 577 koz. Kinross' Paracatu gold mine is located in Brazil, north of Paracatu city and nearly 230km from the capital city of Brazil, Brasília. Paracatu is the largest gold mine in South America and one of the largest in the world.

#Gold and #goldstocks - Uptrend stopped

Gold and gold stocks - Uptrend stopped

Attached are the daily charts of  North American largest gold companies, Barrick Gold and Newmont Mining. Both broke yesterday on the downside from an uptrend which was in place since the middle of  January 2016. The MACD gave a signal of divergence since early March which requested extreme caution.

The gold chart (attachment 2) completed yesterday a Head&Shoulder formation with a neckline just under US$ 1,240 per ounce.

The good thing is that we were warned for the last 2-3 weeks with the divergence of the gold price and the MACD that something is wrong. Very seldom we get such a nice pre warning in advance and investors were able to take the necessary action.

We don't take serious the usual excuse it was all about  a strong dollar. As attachment 4 shows, the U.S. Dollar Index is still in a well defined box with no indication of a strong move on the upside or on the downside at the moment.

Happy Easter