by Frank Holmes, Gold Seek:
Strengths
- The best performing precious metal for the week was palladium, up 7.67%, followed by platinum, which rose 6.00%. The metals rallied this week on President Trump’s comments that the war could be winding down soon. Palladium was down 24% by March 26th, the worst performance among precious metals since the war began, and therefore had the most potential to move higher with the change in sentiment.
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- It was a strong week for precious metals. The gains reflect that there is still positive sentiment toward owning gold, with investors waiting for some kind of resolution in the war with Iran. In general, investors stepped in to take advantage of prices that had been dragged down by the war over the past month as inflation worries rose and prospects for interest rate cuts faded, according to Bloomberg.
- Endeavour Mining delivered solid results for 2025 in Canaccord’s view, with production above the midpoint of guidance and costs in line when adjusted for the increase in the gold price. The company produced 1.21 million ounces of gold in 2025, up 10% year over year, driven by a full year of production at Lafigué. Endeavour announced a record H2 2025 dividend of $200 million and reiterated 2026 production guidance of 1.09 to 1.27 million ounces. Endeavour performed in line with the GDXJ for the week.
Weaknesses
- Gold and silver were neck and neck in finishing as the worst performing precious metals for the week, though they still finished up 3.81% and 4.41%, respectively. Falling interest rates, by nearly 20 basis points for the 2-year Treasury and almost 10 basis points for the 10-year Treasury, were the key drivers of the rise in precious metal prices this week.
- Turkey sold or swapped nearly 70 tons of gold in the week to March 27, according to data published by its central bank, Bloomberg reported. The transactions come as Turkey intensifies its defense of the lira amid the ongoing war with Iran. Turkey has been one of the world’s most aggressive buyers of gold over the past decade. Since the start of the war, it has sold about 120 tons, lowering its holdings to approximately 702 tons.
- Gunmen killed more than 70 people in South Sudan over a gold mining dispute on the outskirts of the capital. The attack occurred at the Jebel Iraq mining site in Central Equatoria State, highlighting the violence linked to unregulated resource extraction. The site has been the scene of violent clashes in the past between illegal miners and mining companies, according to the Associated Press.
Opportunities
- Barrick Mining has formed an executive leadership team for its North American operations as the gold producer advances plans to pursue an initial public offering for the business. The new management team will oversee Barrick’s mines in Nevada and the Dominican Republic and consists of seven positions, according to a Tuesday memo seen by Bloomberg News. Tim Cribb will serve as COO and Wessel Hamman as CFO. The spinoff, which could be worth more than $60 billion, is expected to be completed by late 2026.
