• The best performing precious metal for the week was palladium, up 6.3%, as hedge funds aggressively close short positions. According to Scotia, SilverCrest Metals reported fourth-quarter earnings per share of $0.25, significantly ahead of the consensus of $0.13, based on pre-reported silver and gold sales of 1.27 million ounces and 16.1 thousand ounces, respectively.
• Bloomberg reported that the board of Gold Fields approved a $195 million renewable energy project at the St. Ives mine in Western Australia. The project, the largest in the Gold Fields portfolio to date, will supply 73% of the mine's electricity requirements. Construction will start in May and is expected to be operational by the end of 2025.
• Bloomberg reported that the ever-higher prices reached by gold are turning Dubai’s traditional bazaar into more of a window-shopping experience, with purchases plummeting at the Gold Souk, according to salespeople at numerous shops. All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. Foreign and emerging market investing involves special risks such as currency fluctuation and less public disclosure, as well as economic and political risk.