delerious1
18 hours ago
2025 could supply the perfect storm for NBRI and CEO J.L. saw it coming
Editorial:...Gold price will hit fresh ATH of $3,175 in 2025, spot silver to trade above $38 per ounce – Metals Daily CEO Ross Norman
Kitco Media
By Ernest Hoffman
Updated:
Jan 17, 2025 - 3:06 PM
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Gold price will hit fresh ATH of $3,175 in 2025, spot silver to trade above $38 per ounce –
(Kitco News) – Gold prices will approach $3,200 this year, while silver will get close to $40 per ounce in 2025, according to Ross Norman, CEO of Metals Daily.
In his recently published 2025 precious metals price outlook, Norman demonstrated that he’s among the most bullish experts in the precious metals complex, and this despite acknowledging that market participants still don’t fully understand what drove last year’s rally.
“To know the future, you need to understand the past,” he said. “But with little or no consensus as to why gold achieved a 27% gain in 2024, it makes it especially hard to gauge whether the trend will prevail; institutional (ETF) demand is flat, investment demand is lacklustre, while reported central bank demand is below the last 2 year levels. Worst of all and most perversely, gold's inverse correlation with many traditional macro drivers are out the window.”
“Arguably, dollar strength and rising treasury yields may have only served to temper the rate of gold price increase - and hence them moving in parallel, suggesting to us that gold prices could accelerate again once the handbrake is off,” he added. “This indicates to us good underlying strength in the market.”
Norman believes much of gold’s price appreciation was likely driven by unreported central bank buying and “outlandish” Asian OTC derivatives plays. “If we are right, then we see no reason for a change in mode in 2025 and the gold rally remains intact, but perhaps a little less so,” he said.
“In 2025, the world may be more convivial, US economic prospects and the dollar brighten, plus we may well see an echo to inflation as we did in the 1970's – but we think this matters less than it should,” he concluded. “The high conviction buying looks set to remain, even if the motive remains a matter of debate.”
Norman sees spot gold averaging $2,888 per ounce in 2025, with a high of $3,175 and a low of $2,630.
On silver, Norman is equally bullish, even though the supply and demand picture is no less murky.
“Sometimes unkindly referred to as the 'cinderella metal' (because it often misses the ball) … silver did receive the memo in 2024 and posted a solid 33% gain on the year,” he noted. “Arguably though, it should have done even better because, as gold's alter ego, it would typically be expected to significantly outperform during the seismic shift these metals are seeing.”
Norman said it’s worrying that even amid rising industrial demand and another annual supply deficit forecast, physical investment demand continues to decline, and ETF investment is underwhelming. “Parallels with gold are clear,” he said. “To mix metaphors, this is not yet a market firing on all cylinders. We estimate the supply deficit will be around 250 million ounces in 2025 satisfied by a commensurate drawdown in pipeline metal. That can only happen for so long.”
He said that “silver is not an 'ugly sister', but to be clear, nor is this yet a fairy tale story either,” and warned that a new all-time high above $49 per ounce “may take a little while.”
Norman forecasts spot silver to average $34.16 per ounce across the full year, hitting a high of $38.46 and a low of $29.10 per ounce.
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delerious1
1 day ago
all this in a few months....getting good grades....😎🔨
North Bay Resources Acquires 70% Interest in the Bishop Gold Mill, Inyo County, California, Jan. 21, 2025
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Flexplate
2 days ago
For new investors and a pleasant reminder for our existing investors.
Discover North Bay Resources Inc. (OTC: NBRI), a dynamic mining company dedicated to acquiring, exploring, and monetizing gold and copper deposits across the Western United States and Canada. With a strategic focus on enhancing shareholder value, North Bay Resources is at the forefront of the mining industry.
Key Projects:
Bishop Gold Mill: Located in Inyo County, California, this fully permitted facility processes up to 100 tons of gold ore daily, playing a crucial role in our operations.
Mount Vernon Gold Mine: Our latest acquisition in Sierra County, California, this mine boasts a historical estimate of 954,000 tons with assays ranging from 1.2 to 4.8 ounces of gold per ton.
Fran Gold Project: Situated in British Columbia, this project has recently achieved a 97% gold recovery rate, upgrading to 11.2 ounces per ton concentrate.
At North Bay Resources, we are committed to responsible and efficient resource development, ensuring sustainable growth and profitability. Join us as we continue to explore and develop valuable mineral assets, contributing to the future of mining.
Invest in North Bay Resources Inc. today and be part of a golden opportunity.
For more information, visit our website at northbay-resources.com.
Flexplate
2 days ago
11.23 ounces per ton using multiple extraction techniques coming from the FRAN mine. Not bad at all for surface material!!! Makes me want to know what lies beneath the surface!!!!
BISHOP, Calif., Dec. 16, 2024 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce results of metallurgical studies from its Fran Gold Project, British Columbia. Recovery, totaling 97%, from combined 67% by gravity and 30% by flotation. Head grade, reported at 0.9 ounces per ton gold, was upgraded by gravity to 8.54 ounces per ton gold with follow-on flotation of 2.69 ounces per ton gold producing a total concentrate of 11.23 ounces per ton, representing a 12x concentration.