TOKYO/SEOUL, March 14 (Reuters) - Japan and South Korea expressed concern on Saturday about the rapid declines in their currencies, saying they were ‌ready to act against excessive foreign-exchange volatility. Finance Ministers Satsuki Katayama of ‌Japan and Koo Yun-cheol of South Korea "expressed serious concern over the recent sharp depreciation of the ​Korean won and the Japanese yen," they said in a statement after their annual meeting in Tokyo. The yen and won have slid as mounting tensions from t ...

Core Viewpoint - Newmont Corporation's shares have surged 154.5% over the past year, driven by record gold prices and strong operational performance [1][7]. Stock Performance - NEM stock has outperformed the Zacks Mining – Gold industry's rally of 131.2% and the S&P 500's increase of 26.1% [2]. - Among peers, Barrick Mining Corporation, Agnico Eagle Mines Limited, and Kinross Gold Corporation have seen stock increases of 142.6%, 117%, and 185.6%, respectively [2]. Technical Analysis - NEM has been trading above its 200-day simple moving average (SMA) since April 9, 2025, indicating a long-term uptrend [5]. - A recent slip below the 50-day SMA occurred amid a pullback in gold prices, but the 50-day SMA remains above the 200-day SMA, suggesting a bullish trend [5]. Growth Initiatives - Newmont is expanding production through projects like Cadia Panel Caves and Tanami Expansion 2, which are expected to enhance production capacity and extend mine life [9]. - The Ahafo North project achieved commercial production in October 2025, with an expected annual output of 275,000 to 325,000 ounces of gold over a 13-year mine life [10]. Financial Performance - Newmont generated $3.6 billion from asset sales and returned $3.4 billion to shareholders through dividends and buybacks in 2025 [7][12]. - The company reported robust liquidity of approximately $11.6 billion at the end of 2025, with free cash flow nearly doubling year over year to a record $2.8 billion in Q4 [13]. Strategic Focus - Newmont has divested non-core businesses to concentrate on Tier 1 assets, completing its divestiture program in April 2025 [11]. - The company executed agreements to sell shares in Greatland Resources Limited and Discovery Silver Corp for total cash proceeds of around $470 million [11]. Market Conditions - Gold prices have been influenced by geopolitical tensions, trade policies, and central bank buying, reaching record highs of nearly $5,600 per ounce in late January [17][18]. - Recent fluctuations in gold prices have been attributed to profit-booking and changes in the U.S. dollar value, with current prices hovering above $5,100 per ounce [20]. Earnings Outlook - Newmont's earnings estimates for 2026 have increased, with the Zacks Consensus Estimate currently at $8.79, indicating a year-over-year growth of 27.6% [23]. - The company is trading at a forward price/earnings ratio of 12.99X, slightly below the industry average of 13.1X [24]. Investment Recommendation - Newmont is positioned for growth with a strong portfolio of projects and favorable market conditions, making it a compelling investment opportunity [25].

Core Insights - Hycroft Mining (HYMC) shares increased by approximately 12%, approaching $46, while Silvercorp Metals (SVM) stock rose about 7%, surpassing $12, driven by a rally in the precious metals sector due to geopolitical tensions and rising prices [1] - The VIX, a measure of market volatility, surged 43.6% over the past month, indicating increased risk perception among investors, which typically leads to higher demand for gold and silver as safe-haven assets [1] Group 1: Hycroft Mining - Hycroft Mining is a leveraged play on precious metals prices, holding one of the largest gold and silver deposits in the U.S. at its Hycroft Mine in Nevada, but has not yet generated revenue [1] - The stock has increased 70.8% year-to-date and an extraordinary 1,449.62% over the past year, with billionaire investor Eric Sprott accumulating shares [1] - The company is conducting a drill program targeting 14,500 meters across various zones, with a technical study for a sulfide milling operation expected in Q4 2025 [1] Group 2: Silvercorp Metals - Silvercorp Metals reported record quarterly revenue of $126.1 million in Q3 FY2026, a 51% year-over-year increase, with silver prices reaching $49 per ounce, an 80% increase year-over-year [1] - The company generated $132.9 million in operating cash flow and holds $462.8 million in cash and short-term investments, indicating a strong balance sheet [1] - Silvercorp's adjusted net income was $47.9 million or $0.22 per share, compared to $22 million or $0.10 per share in the prior year, and the stock is up 38.73% year-to-date and 201.12% over the past year [1]

Group 1: Dollar Index and Economic Indicators - The dollar index initially traded higher but fell back after President Trump's comments on the Iran war, indicating it might soon end [1] - Early support for the dollar came from a spike in oil prices above $100 per barrel, which is favorable for Fed policy and the US economy as the largest oil producer [2] - The dollar was negatively impacted by weak US economic data, including a decline of 92,000 in February payrolls and a 0.2% month-over-month decline in January retail sales [3] Group 2: Interest Rate Outlook - The outlook for interest rate differentials is poor for the dollar, with expectations of a 25 basis point cut by the FOMC in 2026, while the BOJ and ECB are expected to raise rates by at least 25 basis points [4] - Swaps markets are pricing in a 1% chance of a 25 basis point rate hike by the ECB at its next meeting [5] Group 3: Precious Metals Market - Gold prices decreased due to early strength in the dollar and reduced safe-haven demand following President Trump's comments about the Iran war [6] - Despite the decline, precious metals still have underlying support from safe-haven demand due to ongoing concerns about the US and Israeli conflict with Iran [7]

Core Viewpoint - Gold has not followed the typical pattern of rising during geopolitical tensions, particularly since the onset of the Iran war, with analysts attributing this to a stronger U.S. dollar and liquidity concerns rather than a decline in safe-haven demand [1][8]. Price Movements - Following the start of the Iran war, spot gold initially surged to $5,260 per ounce but then experienced a sharp pullback, dropping nearly 3.6% to around $5,137 per ounce on March 3 [2]. - As of the latest data, gold was priced at approximately $5,165.63 per ounce, translating to about $166.08 per gram and $166,078.74 per kilogram [2]. Analyst Forecasts - Morgan Stanley has raised its long-term gold price forecast to $4,500, maintaining a bullish year-end 2026 target of $6,300 [3]. - Other major banks have set various targets for gold prices, with Morgan Stanley predicting $5,700 per ounce in a bull case scenario for the second half of 2026, while Goldman Sachs anticipates $5,400 by December 2026 [7]. Influencing Factors - Analysts from Morgan Stanley highlight that expectations around Federal Reserve rate cuts, currency market dynamics, geopolitical tensions, and liquidity issues are currently shaping gold's price trajectory [4]. - The bank suggests that if geopolitical tensions persist, gold prices are likely to rise in the future [5].

Market Overview - Asian markets rebounded, with South Korea's KOSPI rising nearly 10% and Japan's Nikkei increasing by almost 2% [1] - U.S. and European stocks also saw gains, driven by investor optimism regarding potential easing of geopolitical tensions [2] Global Market Dynamics - Global markets are experiencing a pause, with the Nasdaq increasing by 1.29% and the S&P 500 rising by 0.78%, supported by positive macroeconomic indicators [4] - Factors contributing to this market recovery include reports of Iranian intelligence reaching out to the CIA for resolution and U.S. plans to secure the Strait of Hormuz [5] Economic Indicators - Positive labor market data was reported, with U.S. private payrolls showing a higher-than-expected increase for February and ISM's non-manufacturing PMI reaching a three-year high [6] Geopolitical Risks - The ongoing Middle East conflict poses significant uncertainty, with analysts suggesting that Iran could maintain drone harassment in the Strait of Hormuz for an extended period [7] - The U.S. Senate's failure to block military actions against Tehran indicates a prolonged conflict may be anticipated [7] Commodity Market Reactions - Oil prices increased, with both U.S. and Brent crude rising over 2%, Brent crude surpassing $83 per barrel [8] - Gold prices also rose due to safe-haven demand, while the dollar strengthened after a previous decline [8]

Group 1 - Jim Wyckoff has over 25 years of experience in stock, financial, and commodity markets, including roles as a financial journalist and reporter on commodity futures trading floors in Chicago and New York [1] - He has covered every futures market traded in the U.S. at various times throughout his career [1] - Jim is the owner of the "Jim Wyckoff on the Markets" analytical, educational, and trading advisory service [2] Group 2 - He has worked as a technical analyst for Dow Jones Newswires and as a senior market analyst with TraderPlanet.com [2] - Jim is a consultant for the respected "Pro Farmer" agricultural advisory service and was the head equities analyst at CapitalistEdge.com [2] - He holds a degree in journalism and economics from Iowa State University [2] Group 3 - Daily updates and analyses are provided by Jim on Kitco.com, including AM and PM roundups and a daily Technical Special [3]

Group 1: Gold Price Movement - Gold futures opened at $5,155.70 per troy ounce, reflecting a 0.4% increase from the previous closing price of $5,134.70 [1] - The one-year gain for gold was reported at 95.6% as of January 29 [3] - The price of gold has changed as follows: down 0.4% from one week ago, up 2.9% from one month ago, and up 76.8% from one year ago [7] Group 2: Market Influences - Strong safe-haven demand for gold is noted due to ongoing conflicts in the Middle East, with Iran escalating its attacks [2] - An extended conflict could lead to increased gold demand, although higher oil prices may pose inflation risks [3] - Lingering high interest rates support yields on cash and other income-bearing assets, which represent opportunity costs for gold [3] Group 3: Investment Opportunities - Establishing a gold IRA can provide tax benefits while diversifying retirement wealth [5] - A gold IRA is a specialized self-directed IRA designed for holding gold and other precious metals [5] - Gold IRAs must comply with IRS restrictions, including storage in approved facilities and meeting purity requirements for the metals held [8]

Group 1: Gold Price Movement - Gold futures opened at $5,393 per ounce on Monday, reflecting a 2.8% increase from Friday's closing price of $5,247.90, marking the largest close-to-open gain since November 28, 2025 [1] - The one-week gain for gold prices is 5.3%, while the one-month gain is 12.2%, and the one-year gain stands at 87.4% [8] Group 2: Market Influences - The recent surge in gold prices is attributed to the outbreak of violence in the Middle East, including U.S. and Israeli airstrikes against Iran, which have reportedly resulted in casualties [1][2] - The ongoing conflict has negatively impacted stock futures while causing oil prices to rise, which could influence inflation and subsequently affect Federal Reserve interest-rate decisions [2] Group 3: Gold Price Tracking - The current price of gold can be monitored continuously through platforms like Yahoo Finance, which provides 24/7 tracking of gold prices [3]

Group 1: Gold Price Movement - Gold futures opened at $5,393 per ounce on Monday, reflecting a 2.8% increase from Friday's closing price of $5,247.90, marking the largest close-to-open gain since November 28, 2025 [1] - The one-week gain for gold prices is 5.3%, while the one-month gain is 12.2%, and the one-year gain stands at 87.4% [8] Group 2: Market Influences - The recent surge in gold prices is attributed to the outbreak of violence in the Middle East, including U.S. and Israeli airstrikes against Iran, which have reportedly resulted in casualties [1][2] - The ongoing conflict has negatively impacted stock futures while causing oil prices to rise, which could influence inflation and subsequently affect Federal Reserve interest-rate decisions [2] Group 3: Gold Price Tracking - The current price of gold can be monitored continuously through platforms like Yahoo Finance, which provides 24/7 tracking of gold prices [3]