{"id":17193,"date":"2025-04-26T07:53:37","date_gmt":"2025-04-26T07:53:37","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/04\/26\/editors-picks-gold-price-touches-us3500-in-volatile-week-ma-heats-up\/"},"modified":"2025-04-26T07:53:37","modified_gmt":"2025-04-26T07:53:37","slug":"editors-picks-gold-price-touches-us3500-in-volatile-week-ma-heats-up","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/04\/26\/editors-picks-gold-price-touches-us3500-in-volatile-week-ma-heats-up\/","title":{"rendered":"Editor\u2019s Picks: Gold Price Touches US$3,500 in Volatile Week, M&A Heats Up"},"content":{"rendered":"<\/p>\n

It was quite a week for the gold price.<\/strong><\/p>\n

The yellow metal continued its record-breaking streak early in the period, touching the US$3,500 per ounce level for the first time, but then saw a sharp pullback, even dropping briefly below US$3,300.<\/p>\n

What\u2019s behind gold\u2019s latest moves? Market watchers have pointed to US President Donald Trump\u2019s comments about Federal Reserve Chair Jerome Powell as the trigger for its latest spike.<\/p>\n

In a Truth Social post on Monday (April 21), Trump said there could be a \u2018SLOWING of the economy\u2019 unless Powell \u2014 who he referred to as \u2018Mr. Too Late\u2019 \u2014 lowers interest rates.<\/p>\n

Trump has criticized Powell heavily in recent days, saying last week that his \u2018termination cannot come fast enough!\u2019 That statement reignited discussions on whether Trump is able to fire Powell \u2014 Powell has said it can\u2019t be done, and there isn\u2019t any precedent since no president has ever tried to oust a Fed chair.<\/p>\n

For now, the tension has subsided \u2014 Trump walked back his harsh words about Powell on Tuesday (April 22), saying he doesn\u2019t intend to fire him, but still wants to see rate cuts. <\/p>\n

\u2018I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates\u2019 \u2014 Trump<\/p>\n

\n

Bullet briefing \u2014 Barrick to sell Donlin stake, CMOC to buy Lumina <\/h3>\n

Barrick to sell Donlin stake<\/h4>\n

Barrick Gold (TSX:ABX,NYSE:GOLD) has reached an agreement to sell its 50 percent stake in the Donlin gold project to affiliates of Paulson Advisers and NOVAGOLD Resources (TSX:NG,NYSEAMERICAN:NG).<\/p>\n

The major gold miner will sell its interest in Donlin for US$1 billion in cash, with Paulson providing US$800 million and NOVAGOLD contributing the other US$200 million. Once the deal closes, Paulson will have a 40 percent interest in Donlin, while NOVAGOLD\u2019s stake in the asset will rise from 50 percent to 60 percent.<\/p>\n

Barrick President and CEO Mark Bristow said Donlin is an asset that \u2018might be better suited in the hands of others,\u2019 adding that the company is exiting at an \u2018attractive valuation.\u2019 <\/p>\n

While Donlin is one of the world\u2019s largest gold projects, it is located in Alaska where infrastructure is scarce. At the same time, Barrick is looking to hone in on tier-one assets and boost its copper exposure.<\/p>\n

Thomas Kaplan, chair of NOVAGOLD, said in a conference call after the sale was announced that his company \u2018did not see eye-to-eye on a couple of things\u2019 with Barrick, including the timing for a feasibility study for Donlin and the amount of drilling to conduct at the property. <\/p>\n

Paulson Advisers, a longtime NOVAGOLD shareholder, is chaired by John Paulson, who is known for betting against the housing market during the great financial crisis. <\/p>\n

In an interview with Bloomberg this week, the American billionaire said gold is \u2018moving to a new level of valuation\u2019 as central banks continue to buy. <\/p>\n

CMOC to acquire Lumina<\/h4>\n

In other gold M&A news, CMOC Group (OTC Pink:CMCLF,HKEX:3993,SHA:603993) has agreed to buy Lumina Gold (TSXV:LUM,OTCQB:LMGDF) in a transaction worth C$581 million. <\/p>\n

The all-cash deal will see CMOC pay C$1.27 per Lumina share.<\/p>\n

Lumina is focused on its Cangrejos project, which it says is the largest primary gold deposit in Ecuador. A 2023 prefeasibility study outlines a 26 year mine life, with average annual payable production of 371,000 ounces of gold, plus average annual payable by-product output of 41 million pounds of copper.<\/p>\n

\u2018After advancing the Cangrejos project for over 10-years and taking it from no defined resources to being poised to be one of the largest gold projects globally, the Lumina Group is excited for the transition of the Cangrejos project to CMOC,\u2019 said Marshall Koval, CEO of Lumina Gold. <\/p>\n

Well-known mining industry figure Ross Beaty is Lumina\u2019s largest shareholder, while CMOC is a major producer of metals like molybdenum, tungsten, copper and cobalt.<\/p>\n<\/div>\n

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

It was quite a week for the gold price. The yellow metal continued its record-breaking streak early in the period, touching the US$3,500 per ounce level for the first time, but then saw a sharp pullback, even dropping briefly below US$3,300. What\u2019s behind gold\u2019s latest moves? Market watchers have pointed to US President Donald Trump\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":17194,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-17193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17193"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17194"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}