Gold rally finally attracts investors back to mining stocks after months of outflows

According to LSEG Lipper data, funds investing in physical gold and gold derivatives attracted a net $17.8 billion in 2024, the highest in five years, while funds investing in gold miners lost a net $4.6 billion, the most in a decade. 

Gold mining Funds saw their first net monthly inflow in six months in March, attracting $555.3 million, the highest since November 2023, according to Lipper data.

The Gold ETF's have seen continued interest all around the world:

Global Inflows: Gold ETFs have seen significant inflows in 2025, with a total of

$3000 Gold

Gold’s outperformance continues unabated. It took some time, but we’re finally here!

It would be healthy to see it consolidate at these levels before racing further ahead—but a bull is hard to tame! 

____________________________________________________
MasterMetals
@MasterMetals

$NGEX.TO Drills 53.50m @ 7.79% CuEq, 75.45m @ 4.95% CuEq, & 15.25m @ 16.56% CuEq at Lunahuasi

Some more excellent results from $NGEX.

DPDH028 (53.5m @7.79% CuEq) and DPDH029 (157m @ 2.16%CuEq) are large step-outs from previously intercepted mineralization.

DPDH028 is deeper and to the west of all previous holes and is open in all directions.

Drilling to date has now encountered mineralization over a minimum north-south extent of just over 1km from DPDH025 in the north to DPDH029 in the south, a minimum vertical extent of just over 1km and a minimum east-west extent of also just over 1km.—That's a lot of Rock—and Copper! 🪨

$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

Marking to Market US Gold Reserves would inject ~$800 Billion to Treasury

Those coins in the couch are worth a lot!

FT's Gillian Tett reports, "Hedge fund contemporaries of Scott Bessent, the hedgie-turned-US Treasury secretary, are speculating about a revaluation of America's gold stocks. Currently, these are valued at just $42 an ounce in national accounts. But knowledgeable observers reckon that if these were marked at current values

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

____________________________________________________

MasterMetals

@MasterMetals

Will Platinum ever regain its lustre?

Some of us remember a time when Platinum traded at a premium to Gold.

Since 2008, the premium turned to a discount—and it has never recovered…

Gold has doubled since then, while platinum is now down 30%…

Will Platinum ever shine again?

https://www.tradingview.com/x/dUiPvtmI/

______________________________

MasterMetals

@MasterMetals

Gold hits record high on safe-haven demand amid tariff threats

Spot gold was up 1.4% at $2,796.15/oz. at 11:07 AM (1603 GMT), hitting a record high at $2798.24 earlier in the session. Futures were up +2% at $2825/oz. in early trading.

Spot silver was up 2.2% at $31.48per ounce.

….

The Fed, meanwhile, held rates steady on Wednesday, in line with expectations, with Chair Jerome Powell saying there would be no rush to cut them again.

Data showed that U.S. economic growth slowed in the fourth quarter, but robust domestic demand will probably keep the Fed on a slow interest rate cut path.

https://www.tradingview.com/news/moneycontrol:9705cf8c4094b:0-gold-hits-record-high-on-safe-haven-demand-amid-tariff-threats/

#Gold stays strong following Fed’s 50 bps cut

The stock market is at record highs, and the Fed cuts rates by 1/2 percent. Great news for Gold! 😉🚀

See more Precious Metals Charts on bit.ly/MasterMetalsCharts

____________________________________________________

MasterMetals

@MasterMetals

$VGCX.TO: PWC details Victoria Gold’s assets & debts

Assets stood at C$824.75 Million, the majority consisting of property, plant & equipment of C$442.6 million and inventory (on the pad?!) of C$224.7 million. Cash, just C$24 Million.

Debts stand at at least C$300 million owed to 424 creditors.

89 Yukon-based companies are owed just under $42 million, representing 50.7% of the total unsecured debt.

#Gold’n Highs

Another all-time high for Gold today!

____________________________________________________

MasterMetals

@MasterMetals

#Gold keeps rising

As gold passes $2500/oz. reaching all-time highs, everyone wonders, will the rally continue?

The short and long of it is, Yes.

It's financial demand that will be the main driver:

Gold is under-owned.

#Gold closes above $2500!

It's been a long time waiting!

Believe it or not, they let it happen! +2% in one day. That’s how it happens.

All it takes is a couple of days like this and you’re up a couple hundred $ in a week, and next thing you know it, we’re at $3000…

____________________________________________________

MasterMetals

@MasterMetals

#CentralBanks continue to accumulate #Gold

Poland added 3.5 Tonnes in April, Czechia added 1 Ton.  

This follows on March's net purchases of ~25 Tonnes. 

See the data on the World Gold Council site here:

https://www.gold.org/goldhub/gold-focus/2024/05/central-bank-gold-statistics-march-2024

@GOLDCOUNCIL @KrishanGopaul

___________________

MasterMetals bit.ly