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The best performing precious metal for the week was palladium, up 1.30%, perhaps on ETF purchases of the metal which shows the year-to-date rise in palladium ounces held in the ETFs climbed 27%, Bloomberg reports. It is still worth noting that AUM in physically backed ETFs have been trending higher in recent weeks, suggesting more involvement from investors trading in a pocket of the gold market that had been very quiet.
The rough diamond parcels from South African operations, originally earmarked for sale in August/September as part of Tender 1 for fiscal year 2025, will now be sold under Tender 2 that is expected to close mid-October, Bloomberg reports. NBF says that in the three months following the Sahm Rule being triggered, gold has, on average, risen nearly 3% while the S&P 500 has, on average, declined 8.4%. Over the last three market corrections, both gold and gold equities have outperformed the S&P 500 over the following three months from the start of a market correction. If gold is poised to move, the gold stocks may finally be back in play.
is CEO and chief investment officer of U.S. Global Investors, Inc., a boutique investment advisory firm based in San Antonio that manages domestic and offshore funds specializing in the natural resources and emerging markets sectors. The company’s no-load mutual funds include the Global Resources Fund , the World Precious Minerals Fund and the Gold Shares Fund .
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