Neometals (OTCPK:NMTA.Y) 2026 Conference February 18, 2026 09:15 PM ET Company ParticipantsChris Reed - Managing DirectorOperatorThis is Neometals, and this is Chris Reed, and he will explain why. Please make him welcome.Chris ReedThank you very much, Chrissy. Thanks to RIU, and good morning, ladies and gentlemen. The first thing I'd like to say is, the greatest asset at Neometals is its people, and today I'd like to shout out to our technical team on the gold, Darren Townsend and Clay Gordon. I stood up he ...

Market Overview - The S&P 500 and Nasdaq experienced declines for the third consecutive session, with the S&P 500 down 1% and the Nasdaq down 1.4%, putting both indices in negative territory year-to-date [1][1] - Bitcoin and silver prices fell significantly, while investors shifted towards bonds for safety [1] Company Performances - Bristol Myers Squibb reported strong earnings, leading to a nearly 3.5% increase in its stock [1] - Procter & Gamble also saw a gain of 1% during the session [1] - Salesforce's stock dropped 4.5% amid concerns that AI tools could replace enterprise software solutions [1] - Alphabet shares were down more than 1.5% but recovered from earlier lows after reporting strong cloud growth and AI investments [1] Boeing and Airbus Developments - Boeing shares rose nearly 2% following reports of talks with Saudi Arabia's flagship carrier for a potential record-breaking order of at least 150 jets [1] - Citi analysts have a bullish outlook on Boeing, citing improved deliveries and reiterating a buy rating [1] - Jefferies forecasted potential new orders from China for Boeing, linked to trade negotiations [1] Costco Sales Growth - Costco's stock advanced more than 1%, contributing to a 15% gain year-to-date after reporting a 6.4% increase in core comparable sales for January, surpassing the consensus of 5.1% [1] - The growth was driven by strong sales in non-food items and favorable weather conditions [1] Upcoming Earnings Reports - Amazon is set to release earnings, with expectations on how it will leverage AI to enhance its business [1] - Fortinet's earnings release could impact related cybersecurity stocks like Palo Alto Networks and CrowdStrike, which have been affected by the enterprise software downturn [1]

Market Overview - Gold and silver experienced significant declines, with spot gold falling as much as 6.3% and silver plunging up to 11.9% during Asian trading hours on Monday [1] - The previous session saw the steepest intraday loss on record for silver, indicating extreme volatility in the precious metals market [1] Investor Sentiment - Robert Gottlieb, a former precious metals trader, noted that market liquidity is constrained due to a reluctance to take further risks, suggesting that the market is currently crowded with trades [2] - The surge in precious metals prices was driven by geopolitical concerns, currency debasement, and the Federal Reserve's independence, with significant buying from Chinese speculators contributing to the rally [2] Chinese Market Dynamics - The behavior of Chinese investors in buying dips will be crucial in determining market direction following the recent selloff [3] - Despite a fall in the Shanghai benchmark price, it continues to trade at a premium over international prices, with increased retail demand expected ahead of the Lunar New Year [3][4] Price Movements and Economic Factors - The selloff was triggered by the nomination of Kevin Warsh to lead the Federal Reserve, which strengthened the dollar and negatively impacted gold and silver prices [5] - Precious metals were already facing extreme volatility, with a record wave of call option purchases reinforcing upward price momentum [6] Supply and Demand Factors - In the silver market, hot money inflows in China have led to domestic supply tightness, but this may ease as investment demand diminishes due to the recent price rout [7] - As of 12:15 p.m. Singapore time, gold was priced at $4,671.53 per ounce, down 4.6%, while silver declined to $78.86, a drop of 7.4% [8]

Group 1 - The global precious metals market experienced a panic sell-off, with silver prices dropping over 34% from above $110/oz to around $75/oz, and gold prices falling over 12% from $5400/oz to approximately $4700/oz, marking the largest single-day drop since 1983 [1] - The decline in precious metals is attributed to profit-taking by investors after record gains and a rebound in the US dollar, alongside the news of Kevin Walsh being nominated for the next Federal Reserve Chairman, which negatively impacted gold and silver prices [4] - Analysts predict that the Federal Reserve may slow down its easing measures due to rising inflation and improving economic growth in the US, which could exert temporary pressure on gold prices [4] Group 2 - In Beijing, gold recycling prices dropped nearly 70 yuan per gram overnight, with significant fluctuations observed throughout the day, leading to a potential loss of around 800 yuan for sellers due to rapid price changes [5] - Consumers expressed frustration over the rapid decline in gold prices, with some reporting significant losses shortly after purchasing gold [5] - Retailers have implemented strict return policies for gold products, with many not accepting returns for investment gold items, and some brands charging fees for returns, which has led to consumer complaints about high fees and lack of clear communication regarding return policies [9][11]

Group 1: Gold Price Movement - Gold futures opened at $5,179 per troy ounce, marking a 1.1% increase from the previous closing price of $5,120.60, and surged over $5,300 in early trading [1] - The one-year gain of gold is 89.2%, representing its largest one-year gain in 2025 and 2026 [4][7] Group 2: Factors Influencing Gold Demand - A weaker U.S. dollar, which has declined over 2% in the last five days and nearly 11% in the last year, makes gold more affordable and boosts demand [2][3] - Evolving U.S. foreign relations and domestic political pressures, including tariff threats and investigations into the Federal Reserve Chair, may be contributing to a shift away from U.S. dollar reserves, benefiting gold [2] Group 3: Investment Options in Gold - Common ways to invest in gold include physical gold, gold mining stocks, gold ETFs, and gold futures [5][8] - Each investment option has its pros and cons, such as liquidity, volatility, and storage requirements [10][12][19][20]

Core Insights - Costco has started selling 1-ounce gold bars, with prices for the PAMP Suisse and Rand Refinery bars at $1,979.99 and $1,949.99 respectively in late 2023, indicating strong initial demand [2] - By December 2025, the price of the PAMP Suisse bar surged to $4,119.99, reflecting a 108% increase, while the broader gold market rose approximately 65% during the same period [3] - The demand for gold remains robust, with Costco implementing purchase restrictions of one transaction per membership and a maximum of four units per 24 hours [4] Industry Trends - Gold is increasingly viewed as a means to preserve purchasing power and a safe haven during economic and geopolitical uncertainties, leading to heightened investor interest [5] - Current market conditions, characterized by tariff uncertainties and rising deficits, have contributed to gold's status as a strong investment option [6] - Experts, including Ray Dalio, emphasize the importance of gold in investment portfolios, especially during turbulent times, with gold prices peaking at $4,371.78 per ounce in October [7]

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Core Insights - The article highlights the fear surrounding counterfeit bars in major vaults, suggesting that the real danger lies elsewhere [1] Group 1 - The concern over counterfeit bars is prevalent in the industry, indicating a significant risk perception among stakeholders [1]

Core Insights - Gold futures opened at $3,939.50 per ounce, down 0.5% from the previous close of $3,960.50, marking the lowest opening since October 28 [1][4] - The price of gold has fluctuated around $4,000 after a recent pullback from all-time highs, influenced by economic uncertainties, a weakening dollar, and a trade agreement with China [2] - Stock prices have declined, potentially increasing demand for gold as a safe-haven asset [3] Current Price Trends - The current opening price of gold futures reflects a decrease of 0.5% from the previous day, with a notable increase of 62.4% from one year ago as of October 17 [1][4][8] - Weekly change shows a decline of 1.1%, while the monthly change indicates a slight increase of 0.8% [8] Investment Options in Gold - Various methods to invest in gold include physical gold, gold mining stocks, gold ETFs, and gold futures [9] - Physical gold is tangible and easily accessible, but it has risks such as theft and lower liquidity [10][16] - Gold mining stocks can be volatile due to their dependence on gold prices and geopolitical risks, leading many investors to prefer diversified funds [11][17] - Gold ETFs track gold prices and offer greater liquidity, but they come with fund fees that can dilute returns [15][20] - Gold futures allow for leverage and convenience but carry high risks and complexity [19][21]

Core Insights - Gold prices remained stable in Asia as investors awaited the U.S. Federal Reserve's policy decision and monitored the Israel-Iran conflict [1] - The demand for gold in India surged during Diwali, with a notable shift towards purchasing gold coins and bars rather than jewelry [2][4] Industry Trends - Over 40 tons of gold were sold in India on the first day of Diwali, indicating strong consumer interest [2] - Total gold sales during the five-day Diwali festival were estimated between 700 billion rupees ($8 billion) and 1 trillion rupees ($11 billion) [3] - The jewelry sector experienced a decline in sales, with a reported 30% drop in jewelry purchases compared to the previous year [4] Investment Sentiment - The increase in gold purchases is driven by a search for returns, with gold prices rising 66% by mid-October and remaining up 55% as of the latest report [5] - Industry experts predict that gold prices could reach $5,000 per ounce by 2026, following a recent peak of over $4,000 [5] Market Position - India ranks as the second-largest gold purchaser globally, following China, with consistent demand driven by cultural practices during festive and wedding seasons [6]