Kitco News

(Kitco News) - The gold market just can't catch a break. What began as a correction from record highs has turned into a relentless selloff, with every major support level giving way. Some analysts are now warning that there are few meaningful technical levels below $4,000 an ounce. Once again, gold finds itself balancing on a knife's edge. As the market heads into the second half of the year, analysts are already hedging their bets, issuing a wave of short-term downgrades to their forecasts.

The last few sessions have delivered exactly what traders love and hate at the same time: strong moves followed by equally strong questions. The dollar continues to push into key resistance while precious metals are trying to stabilize after reaching several downside targets discussed earlier this week. The good news? Many of the scenarios we outlined played out almost exactly as expected.

(Kitco News) - The gold market is ending the week in a precarious position as prices cling to what has become critical support near $4,000 an ounce. The precious metal is on track to post its fourth consecutive weekly loss, its longest losing streak since August 2023. The gold market has struggled in recent months as the war in Iran significantly disrupted the global energy market, driving oil prices higher and igniting inflation fears.

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In this presentation, Jeffrey Christian of CPM Group gives a precious metals update covering the gold price outlook, silver market update, platinum and palladium weakness. He also covers ETF selling, what lower coin premia say about investor demand and re-sales, Comex inventory levels not falling, U.S. GDP, inflation pressures, and how Treasury gold revaluation rumors would be meaning to both world gold prices and the U.S. government’s deficit and debt problems.

Three Chinese brokerages – Yongan Futures, Orient Futures and ​Guotai Junan Futures – are preparing to apply for membership of the London Metal Exchange, sources familiar with the ‌matter said, in a move that would boost China’s presence on the world’s biggest marketplace for industrial metals. The push reflects efforts by Chinese firms to capture a larger share of revenue from metals derivatives trading and further the brokers’ ambitions for global expansion.

(Kitco NewsWire) - Spot gold and silver prices are higher after the North American cash-market close on Friday, as lower Treasury yields and a softer U.S. dollar helped precious metals recover while oil retreated despite renewed Strait of Hormuz tension. At the time of writing, spot gold was trading near $4,088.60 an ounce, up 1.55%, while spot silver was trading near $59.050, up 2.25% on the session.

Russian diamond miner Alrosa said on Friday that its subsidiary Severalmaz will suspend mining and transport operations from July 1 for around three months. Processing operations will continue during the period, supported by existing ore stockpiles, the company said. It said the decision was in line with its strategy to “maintain operational and financial resilience and to uphold discipline regarding the effective management of rough diamond sales flows in the diamond market”.

(Kitco News) – Gold prices saw another wild week, as early bargain-hunting and safe-haven demand gave way to another sharp selloff after stronger U.S. data, sticky inflation, a firmer dollar, and rising Fed rate-hike expectations pushed the yellow metal back toward the $4,000 level, before a last-minute surge brought prices to the edge of $4,100.

The race to extract critical minerals essential for clean energy is leading to an increase in rights abuses linked to major mining operations, the London-based non-profit the Business and Human Rights Centre said this week. Its annual Transition Minerals Tracker reported 329 allegations of abuses worldwide in 2025, a 73% increase compared to 2024, and said Africa had seen the sharpest rise.