Gold SWOT: Newmont has agreed to acquire Newcrest in a friendly all-share transaction
(Kitco commentary) - The best-performing precious metal for the week was platinum, showing a 0.44% increase. AngloGold is changing its domicile and primary listing location.
Gold SWOT: China added to its gold reserves for the sixth consecutive month
(Kitco commentary) - Palladium was the best-performing precious metal of the week, increasing by 1.3%. Exchange-traded funds (ETFs) raised their palladium holdings by 17,202 troy ounces.
Crypto SWOT: Ark Invest added more Coinbase shares to its stockpile.
(Kitco commentary) - Sales of NFTs seem to be climbing from the lowest levels since 2021 after NFT marketplace Blend launched its lending program.
Gold SWOT: The Google search phrase "how to buy gold" reached record highs in the U.S.
(Kitco commentary) - The best-performing precious metal for the week was silver, up 2.77% as hedge funds increased their bullish position size to its highest level in 15 weeks, according to Bloomberg.
Crypto SWOT: Bitcoin may be eyeing $50,000 next year
(Kitco commentary) - Bitcoin's rebound could be just the start of a rally that may take it past $50,000 next year courtesy of a process known as halving, which curbs the supply of new tokens.
Gold SWOT: Gold prices in India have soared to their highest ever
(Kitco commentary) - This week gold futures closed the week at $1998.10, up $7.60 per ounce, or 0.38%. Gold stocks, as measured by the NYSE Arca Gold Miners Index, ended the week lower by 0.44%. The S&P/TSX Venture Index came in off 0.13%. The U.S. Trade-Weighted Dollar fell 0.19%.
Crypto SWOT: President Donald Trump launched his second series of NFTs
(Kitco commentary) - Switzerland's Syz Group is joining with Hong Kong-based venture capital firm CMCC Global to launch a fund with at least $50 million to invest in crypto-focused hedge funds.
Gold SWOT: Central bank gold buying continued in February
(Kitco commentary) - This week, gold futures closed the week at $1992.60, down $23.20 per ounce, or 1.15%. Gold stocks, as measured by the NYSE Arca Gold Miners Index, ended the week higher/lower by 4.42%. The S&P/TSX Venture Index came in off 3.71%. The U.S. Trade-Weighted Dollar gained just 0.15%.
CRYPTO SWOT: Bitcoin above $30,000 for the first time since June 2022.
(Kitco commentary) - Bitcoin climbed over $30,000 for the first time since June 2022, bolstered by bets on easier monetary policies that have made cryptocurrencies standout performers this year.
Gold SWOT: Royal Gold reported positive 1Q stream segment ounces
(Kitco commentary) - The best performing precious metal for the week was platinum, up 3.74%. The Gold/Copper ratio has been on an upward trend since mid-March as gold has outperformed copper.
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