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FXEmpire.com - Gold Gold 010524 Daily Chart Gold rebounds after yesterday’s sell-off as traders prepare for Fed decision, which will be released soon.

The World Gold Council (WGC) has released its latest gold demand trends report, highlighting a record quarterly average price of US$2,050 per ounce for the yellow metal on the back of strong demand. This represents a substantial 10 percent increase year-on-year and a notable 5 percent rise quarter-on-quarter, culminating in the precious metal reaching new heights and closing the three month period at US$2,214. “The upside potential has been really exciting to watch, but definitely something that is giving us a signal that there might be more than just strategic investment in play, likely some speculative investment playing out as well, whether that's in the Americas or actually overseas in Asia,” Joe Cavatoni, senior market strategist, Americas, told the Investing News Network (INN). “It's really something that we're keeping a close eye on, and as you can see, we have moments when big potential (and) opportunity develop, for example strong messaging around potential for rate cuts,” he added.The WGC's report highlights several notable trends in gold demand during the first quarter of 2024. Despite fluctuations in different segments, the period witnessed a robust gold market. Mine production saw a 4 percent year-on-year increase to reach 893 tonnes, setting a first quarter production record. Additionally, recycling responded to higher prices, surging by 12 percent year-on-year to 351 tonnes, marking the highest quarter of recycling supply since Q3 2020Western and eastern investors demonstrated contrasting behaviors, with western gold buying remaining strong but met with profit-taking, while eastern markets exhibited strong buying during the price surge.The report forecasts a positive outlook for the gold sector in 2024, driven by central banks and retail investment. Central banks continued their trend of net gold purchases, adding 290 tonnes (net) to official holdings in Q1. Moreover, retail investment is expected to remain robust, contributing to a strong year for gold. ​Q1 gold investment trends reflect global market volatility The first quarter of 2024 painted a complex picture marked by significant fluctuations in various sectors. Investment in gold during Q1, excluding over-the-counter (OTC) transactions, saw a notable decline of 28 percent year-on-year, totaling 199 tonnes. This drop was primarily driven by substantial outflows from gold exchange-traded funds (ETFs), which overshadowed modest growth in bar and coin demand.“It's about 6 percent of the investment market worldwide. So while it gets a lot of attention and it's very easy to track the net flows in the ETF market, it's just a small element that people need to pay attention to,” noted Cavatoni.Holdings of global gold ETFs experienced a sharp decline of 114 tonnes during the quarter, amounting to a decrease of US$6 billion. Despite this significant outflow, assets under management (AUM) reached their highest level in nearly two years, totaling US$222 billion, thanks to the robust performance of gold prices.Bar and coin investment, however, bucked the overall downward trend in gold investment, posting a modest 3 percent year-on-year increase to 312 tonnes. This increase was driven by buoyant demand for small gold bars, particularly in Asia, which offset a slump in demand for gold coins. The divergence in investment behavior between western and eastern markets was evident, with profit-taking by western investors contrasting with consistent investment demand in Asia.“Now, what's been playing out has been very clearly a lot of western investors anticipating and looking for that trend in terms of where rates are going to head and the dollar strength,” he added.Over-the-counter (OTC) investment, which includes transactions outside of traditional exchanges, remained a significant contributor to total demand and played a key role in driving gold prices to record highs in March. OTC investment totaled 136 tonnes in Q1, maintaining an average of 120 tonnes per quarter since the beginning of 2023. The opaque nature of OTC transactions makes estimating and attributing this investment challenging, but indicators such as net long positions held by money managers suggest substantial activity in this sector.Looking at specific regions, European gold ETFs lagged behind in Q1, experiencing a 4 percent decline in holdings. North America saw the largest tonnage decline in ETF holdings, primarily in January and February, with modest inflows observed in March. Similarly, European-listed ETFs saw outflows driven by adjustments in monetary policy expectations and rallying stock markets.In contrast, Asian-listed funds continued to attract inflows for the fourth consecutive quarter, with China leading the increase amid a weakening local currency and poorly performing domestic equity markets. China also witnessed a surge in bar and coin demand, reaching its highest quarterly total in over seven years. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

(RTTNews) - The Energy Information Administration released a report on Wednesday showing an unexpected rebound by U.S. crude oil inventories in the week ended April 26th.

FXEmpire.com - Natural Gas Technical Analysis Natural gas markets continue to meander in the same area that we’ve been in for a while. At this point, there’s not much to say other than we are going to continue to go back and forth. Underneath, we have the $1.50 level, which I thi

FXEmpire.com - US Natural Gas Prices Dip US natural gas prices continued their decline on Wednesday, extending Tuesday’s retreat. Lingering doubts surrounding Freeport LNG’s recovery and anticipation of bearish monetary policy news contributed to the market sentiment.

FXEmpire.com - Market Overview Oil prices declined for the third consecutive day, influenced by optimism over a potential ceasefire in the Middle East and rising U.S. crude i

Speaking to the Investing News Network, Craig Hemke, publisher of TFMetalsReport.com, shared his thoughts on what's behind gold's big price rise and current pullback, plus what could be next for the yellow metal. In his view, gold's move back below the US$2,400 per ounce level is completely normal — Hemke noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy.With that said, he does see strong upside potential for the precious metal in 2024. In his view, there are a lot of technical targets that line up with US$2,650 or US$2,700, and he said that's probably the next point to watch for. While those heights won't necessarily be achieved this year, Hemke thinks gold could finish the period at US$2,400 or US$2,500.Taking a step back to provide a look at the larger picture for gold as well as silver, he emphasized the importance of preparing for the inevitable collapse of the current debt-based system. "You reach a terminal phase, and I think we're finally now getting there, where the debt is growing exponentially and so quickly that the amount of new fiat money creation even just to service the debt — it all just begins to spin tighter and tighter and out of control," he explained during the interview. "Your protection against that sort of collapse has always been the ownership of physical gold and physical silver too."Watch the interview above for more from Hemke on gold and silver. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

The first quarter of 2024 began with copper prices remaining steadfast, staying within the US$8,000 to US$8,500 per metric ton (MT) range. However, the end of the quarter saw the red metal gain momentum on the LME and surge to a quarterly high of US$8,973 on March 18 before moving to set a two-year high on the London Metal Exchange of US$9,869 on April 30. The dramatic gains came on the back of tightening concentrate supply to Chinese smelters, who cut supply as competition between upgraders caused treatment charges to fall to their lowest point since 2010. While supply for refined copper was expected to shift into a deficit in 2025, the lowered output from smelters is looking to move that ahead to later this year. With higher copper prices affecting consumers, the effects have started to be felt by copper producers. So which companies have seen the biggest share increases on the TSX? Here are the Top 5.Data for this article was retrieved on April 24, 2024, using TradingView's stock screener, and only companies with market capitalizations greater than C$10 million are included. 1. Taseko Mines (TSX:TKO) {"@context":"http://schema.org","@type":"Corporation","name":"Taseko Mines Limited","url":"https://www.tasekomines.com","description":"Taseko Mines Ltd is a Canadian mining company. It is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada, and the State of Arizona, the United States. The Gibraltar, Aley, New Prosperity, and Harmony properties are located in British Columbia whereas Florence copper is in central Arizona.","tickerSymbol":"TSX:TKO","sameAs":[]} Press Releases Company Profile Year-to-date gain: 73.91 percent; market cap: C$944.77 million; current share price: C$3.20Taseko Mines is a copper producer and development company and holds a portfolio of assets in British Columbia, Canada and Arizona, US. Its primary asset is the Gibraltar mine located in Central BC. The mine is Canada’s second largest open-pit copper mine after Teck Resources' (TSX:TECK.A,TECK.B,NYSE:TECK) Highland Valley mine. Gibraltar boasts an 85,000 MT per day processing capacity and in 2023 produced 123 million pounds of copper. On March 25, Taseko acquired 100 percent ownership of the Gibraltar mine after it entered into an agreement with Dowa Metals and Mining (TSE:5714) and Furukawa (TSE:5715) to purchase the remaining 12.5 percent interest in the property. The company said the agreement was made as both Dowa and Furukawa are divesting themselves of their copper-mining investments. In addition to Gibraltar, the company is also working to advance its Florence copper project located near Florence, Arizona. The mine is expected to enter commercial production in 2025, and when fully operational will produce approximately 85 million pounds of copper per year. On January 16, the company provided an update for the project and announced it had secured an additional US$50 million in funding from Taurus Mining Royalty Fund in exchange for 1.95 percent of gross revenue from the sale of all copper from Florence. The company said the additional funds will allow it to accelerate construction at the site, with the build to begin in the second quarter.Shares in Taseko reached a quarterly high of C$2.99 on March 27. Buy now , 2. McEwen Mining (TSX:MUX) {"@context":"http://schema.org","@type":"Corporation","name":"McEwen Mining Inc.","url":"https://www.mcewenmining.com","description":"McEwen Mining Inc is a mining and minerals production and exploration company focused on precious and base minerals in Argentina, Mexico, and the United States. The company's overall revenue is principally derived from the production of gold and silver, each comprising roughly half of total sales. The company owns and operates the wholly-owned El Gallo 1 mine in Mexico, and has a minority shareholding in the company that operates the San Jose mine in Argentina. More than half the company's gold output is produced by the El Gallo 1 mine. The remaining gold production, and majority of silver production, is produced by the San Jose mine.","tickerSymbol":"NYSE:MUX","sameAs":[]} Press Releases Company Profile Year-to-date gain: 57.81 percent; market cap: C$721.14 million; current share price: C$14.96McEwen Mining is a mining company led by industry veteran Rob McEwen. It is working to advance its Los Azules copper project in San Juan, Argentina as well as the Fox Complex gold mines in Ontario, Canada, the Gold Bar mine in Nevada, United States and the San Jose gold mine in Argentina.Shares of McEwen Mining saw their largest gains at the end of February and the beginning of March. This rising share price coincided with positive news from the company's Q4 and full-year 2023 report, which was released on February 29. In the announcement, McEwen said it had 22 drills on site and was working toward delivering a feasibility study in Q1 2025. It also reported a 76 percent expected average copper recovery over a 27 year life-of-mine and projected after-tax net present value of US$262 million. Owned by subsidiary McEwen Copper, the joint project is a partnership between McEwen Mining which holds 48 percent, Rio Tinto (NYSE:RIO,LSE:RIO) which holds 14.5 percent and Stellantis (NYSE:STLA) which holds 19.4 percent. Shares in McEwen Mining reached a quarterly high price of C$13.36 on March 28. Buy now , 3. First Quantum Minerals (TSX:FM) {"@context":"http://schema.org","@type":"Corporation","name":"First Quantum Minerals","url":"https://www.first-quantum.com","description":"First Quantum Minerals Ltd is a diversified mining company. The company's principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Panama, Turkey, Spain, Australia and Mauritania. The Company's reportable operating segments are Cobre Panama, Kansanshi, Trident and Ravensthorpe. Majority of the revenue is generated from Cobre Panama.","tickerSymbol":"TSX:FM","sameAs":[]} Press Releases Company Profile Year-to-date gain: 47.32 percent; market cap: C$12.94 billion; current share price: C$15.94First Quantum Minerals is a copper mining and development company with a global portfolio of Assets. Its primary asset has been the Cobre Panama mine located west of Panama City, Panama. The mine boasts 3 billion MT of proven and probable reserves and represents 1 percent of the World’s copper supply. The mine was ordered to close down in November 2023 after the Panamanian Supreme Court invalidated an extension to the mine's license. In a December 2023 release, the company said it was working on developing a closure plan for the mine that it expects to present in June 2024, but also noted it is pursuing all appropriate legal avenues to protect its investment and rights. In the company’s Q1 2024 financial update, released on April 24, First Quantum said it was continuing to work on a preservation and safe management plan for Cobre Panama, and was also working to deliver the 121,000 MT of concentrates that remain on site. Due to the ongoing situation in Panama, the company noted that it has undergone a refinancing program to improve its balance sheet and improve liquidity. This program has included working out a prepayment agreement with Jiangxi Copper for US$500 million, the completion of a US$1.6 billion senior secured second-lien at 9.38 percent due in 2029, and the issuance of 139.93 million common shares to raise proceeds of US$1.15 billion. In addition to the updates on its mine in Panama, First Quantum reported the production of 100,605 MT of copper through Q1, a 59,595 MT decrease over Q4 of 2023, which were largely attributed to the closure of Cobre Panama. These declines were partially offset at its Sentinel mine in Zambia where a year-over-year increase of 25,993 MT limited the loss to 38,148 MT of copper from the same period a year ago. However, First Quantum noted that production may be impacted in 2024 as drought conditions in Zambia have led to the government declaring a national emergency. Due to El Nino, there have been reduced water levels in the Kafue and Zambezi Rivers and power generation throughout the country has been impacted.The company has been working to mitigate these challenges and has entered into offtake agreements with third-party traders for power sourced from the Southern African Power Pool for a total of 80 megawatts. The agreements are expected to cost US$25 million.Shares of First Quantum reached a quarterly high of C$15.01 on March 15. Buy now , 4. Hudbay Minerals (TSX:HBM) {"@context":"http://schema.org","@type":"Corporation","name":"Hudbay Minerals Inc.","url":"http://www.hudbayminerals.com","description":"Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company's revenue is attributable to the copper business. The company sells copper concentrates to smelters across Asia, America, and Europe, and sells Zinc metal, the next biggest source of revenue, to industrial customers across North America.","tickerSymbol":"TSX:HBM","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=30828200&width=980","logo":"https://investingnews.com/media-library/image.gif?id=30828200&width=210"} Press Releases Company Profile Year-to-date gain: 46.01 percent; market cap: C$3.70 billion; current share price: C$10.60Hudbay Minerals is a copper production and development company with assets in BC and Manitoba, Canada; Arizona, US; and Peru.The company has four producing mines. According to its management discussion and analysis (MD&A) for 2023, Constancia and neighboring Pampacancha mines in Peru produced 100,486 MT of copper. Copper Mountain in BC saw 12,154 MT of copper and Snow Lake in Manitoba produced an additional 19,050 MT of copper. In total, this represented a 27,518 increase in copper production for 2022. In addition to its mining assets, the company is also working to advance its Copper World project in Arizona. In the MD&A, the company indicated it is working on receiving the final state permits for the site and expects to receive them sometime in 2024. The company is also in the process of completing a three prerequisites plan that is required for sanctioning which it expects in 2025.When complete, the mine is expected to have a 20 year life span, and according to a mineral resource estimate included in a March 28 annual reserve and resource update, Hudbay reported proven and probable average grades of 0.54 percent copper from 385 million MT. The company is also working on its greenfield Mason project in Nevada. Hudbay says it is developing the project as a long-term future asset and expects it to have a 27 year lifespan. Resource estimates from the site show measured and indicated average grading of 0.29 percent from 2.22 billion MT of ore, with additional inferred grading of 0.24 percent from 237 million MT. Shares of Hudbay reached a quarterly high of C$9.48 on March 28. Buy now , 5. Ivanhoe Mines (TSX:IVN) {"@context":"http://schema.org","@type":"Corporation","name":"Ivanhoe Mines Ltd.","url":"https://www.ivanhoemines.com","description":"Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company's treasury offices.","tickerSymbol":"TSX:IVN","sameAs":[],"image":"https://investingnews.com/media-library/image.png?id=34666125&width=980","logo":"https://investingnews.com/media-library/image.png?id=34666125&width=210"} Press Releases Company Profile Year-to-date gain: 43.76 percent; market cap: C$23.03 billion; current share price: C$18.33Ivanhoe Mines is a copper production and development company that operates the Kamoa-Kakula copper mine, one of the largest in the world. Located in the Democratic Republic of Congo, the mine is a joint venture between Ivanhoe, which holds a 39.6 percent stake, China’s Zijin Mining Group (OTC Pink:ZIJMF), which holds another 39.6 percent stake, the Government of the Democratic Republic of Congo with a 20 percent share and Crystal River Global, which holds the remaining 0.8 percent. On April 3, Ivanhoe announced Q1 2024 production results for Kamoa-Kakula. In the report, Ivanhoe indicated that the mine had produced 86,203 MT of copper while achieving a quarterly mining record of 2.5 million MT of ore from Kakula and Kamoa 1 underground mines. The company also said that ore was being stockpiled ahead of the anticipated early commissioning of the Phase 3 concentrator, which is now scheduled to come online in May of this year. In addition, Ivanhoe said it is working to upgrade power generation at the site from 58 megawatts to over 200 megawatts ahead of the completion of the phase 3 smelter in Q4 2024. Once online, annual production at Kamoa-Kakula will increase to 650,000 MT of copper per year.Shares in Ivanhoe reached a quarterly high of C$16.24 on March 15. Buy now , FAQs for investing in copper Is copper a good investment in 2023? Copper's price trended downward throughout 2023. Although many experts have a positive long-term outlook for the red metal based on supply concerns and its growing role in the energy transition, recession worries in countries across the globe are creating short-term headwinds for copper, which is heavily used in industry. Investors who are interested in copper should make sure to perform their due diligence, as the volatility and unpredictability of markets and economies at the moment means that nothing is guaranteed. What is copper used for? Copper is used in many industries, from construction to electronics to medical equipment. In fact, in 2020, 32 percent of copper globally was used in equipment manufacturing and 28 percent in building construction. Two other growing sectors for copper are the burgeoning electric vehicle and green energy industries. Electric vehicles require a significant amount of the red metal per vehicle. How to invest in copper? Investors can get exposure to copper in a variety of ways. Holding physical copper is possible, but plenty of storage would be required to hold any significant value of the metal.For investors looking to invest in the metal without physically holding it, there are a few options. Copper stocks such as those on the TSX, TSXV and ASX are worth looking at. Additionally, there are copper exchange-traded funds and the copper options and futures markets on the London Metal Exchange. How to invest in a copper ETF? Copper exchange-traded funds (ETFs) can be a good way to diversify an investment portfolio, and they can be a more stable option compared to individual copper miners or explorers. There are multiple options available on the market, and they can usually be purchased in the same way one could purchase stocks through a broker or trading platform.In May 2022, Horizons launched Canada’s first copper equities ETF, the Horizons Copper Producers Index ETF (TSX:COPP), which is focused solely on pure-play and diversified copper-mining companies. There are two ETFs available on the US ARCA exchange as well. The Global X Copper Miners ETF (ARCA:COPX) tracks the Solactive Global Copper Miners Index, which includes copper miners, as well as copper explorers and developers. The other option is the United States Copper Index Fund (ARCA:CPER), which gives investors exposure to copper futures contracts by tracking the SummerHaven Copper Index Total Return (INDEXNYSEGIS:SCITR). How much is copper worth? The copper price is tracked in two ways: COMEX copper and London Metal Exchange (LME) copper. The COMEX and LME are both options and futures metal exchanges, with the former being headquartered in New York and the latter in London. COMEX copper is priced by the pound, while LME copper is priced per MT. Where is copper mined and how is it processed? Copper is mined throughout the world, with significant production found on every continent besides Antarctica. Chile was the top producer in 2022, putting out 5.2 million MT of the metal. Rounding out the top five are Peru and the Democratic Republic of Congo with 2.2 million MT each, China with 1.9 million MT and the US with 1.3 million MT.Once copper is mined, the ore goes through multiple steps to reach a market-ready state. First, the ore is ground to roughly separate the rock from the copper, as copper typically only makes up 1 percent of the mined rock. The resultant copper is then slurried with water and chemical reagents, after which air is used to float the copper to the top of the mixture. After the copper is removed from this, it is typically at 24 to 40 percent purity. Lastly, the copper is refined at a refining plant or smelter using one of two methods, pyrometallurgy and hydrometallurgy. Pyrometallurgy is employed for copper ore that is sulfide rich, while hydrometallurgy is used when the ore is oxide rich. The Investing News Network's guide on copper refining goes into further detail about how those processes work. Once these processes are complete, the copper is concentrated to up to 99.99 percent purity. Article by Dean Belder; FAQs by Lauren Kelly. Don’t forget to follow us @INN_Resource for real-time news updates! Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article. Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

Coming off a volatile 2023, copper started the new year trading in the US$8,000 to US$8,500 range in January and February. However, the red metal saw significant gains starting at the end of February and through March as news of production cuts from Chinese smelters began to make headlines. The cuts came as supply for concentrates became tight, sending treatment charges to their lowest point since 2010. The results of the cuts pushed the price of copper on the London Metal Exchange to a quarterly high of US$8,973 per metric ton (MT) on March 20. The price has continued to see gains and reached a two-year high of US$9,814 on April 24.With the demand for copper set to soar within the next several years, has this elevated pricing helped small-cap explorers on the TSXV? These are the five biggest gaining stocks since the start of 2024. Data for this article was gathered on April 24, using TradingView's stock screener, and all companies had market caps of over C$10 million at that time. Read on to see what's been moving their share prices. 1. Sandfire Resources (TSXV:SFR) {"@context":"http://schema.org","@type":"Corporation","name":"Sandfire Resources America Inc.","url":"http://www.sandfireamerica.com","description":"Sandfire Resources America Inc is engaged in the exploration, development, and mining of its 100% owned flagship property, the Black Butte Copper Project in central Montana, USA. The property contains sediment-hosted zones of massive sulfide mineralization. The drilling encountered significant zones of strata-bound copper sulfide with cobalt in multiple bedded pyrite zones in the lower part of the Precambrian Belt Super group.","tickerSymbol":"TSXV:SFR","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=29647894&width=980","logo":"https://investingnews.com/media-library/image.gif?id=29647894&width=210"} Company Profile Year-to-date gain: 211.11 percent; market cap: C$266.07 million; current share price: C$0.28Sandfire Resources America is a copper development company focused on its Black Butte copper project located east of Helena, Montana, in the US. In 2021, a state district court revoked the company's mine operating permit for Black Butte, halting construction activities of the underground mine.Sandfire describes the project as one of the highest grade undeveloped copper deposits in the world; a resource estimate for the project's Johnny Lee deposit completed in 2020 reported measured and indicated resources of 10.9 million MT grading 2.9 percent copper for a total of 311,000 MT contained copper.Shares of Sandfire soared following a February 26 decision by the Montana Supreme Court to reinstate the company's mine operating permit. The win is a crucial step for Sandfire to continue the construction of its mine.The company has not released any further updates about the project. Shares of Sandfire reached a quarterly high of C$0.29 on March 4. Buy now , 2. American Eagle Gold (TSXV:AE) {"@context":"http://schema.org","@type":"Corporation","name":"American Eagle Gold","url":"https://americaneaglegold.ca/","description":"Exploring a World-Class Gold Deposit in Nevada’s Cortez Trend\n","tickerSymbol":"TSXV:AE","sameAs":[],"image":"https://investingnews.com/media-library/accredited-investor-lead.png?id=27863835&width=980","logo":"https://investingnews.com/media-library/accredited-investor-lead.png?id=27863835&width=210"} Press Releases Company Profile Year-to-date gain: 171.7 percent; market cap: C$67.31 million; current share price: C$0.72American Eagle Gold is a copper and precious metals exploration company working to advance its NAK property in Central BC, Canada. Hosted within the Babine copper-gold district, the NAK property has seen historical exploration dating back to the 1960s. American Eagle completed the acquisition of the site in December 2021, and has drilled 17 holes for a total of 13,854 meters during 2022 and 2023 exploration programs. On January 8, the company announced results from the final hole of its 2023 program, which returned the highest grading. It reported a 302 meter intersection containing 0.53 grams per metric ton (g/t) gold, 0.4 percent copper, 1.27 g/t silver and 431.4 parts per million molybdenum. The company’s most recent update for the project came on March 15, when it announced it was fully funded to begin a 15,000 meter drill program that is scheduled to start in May. The program will focus on expanding and outlining near-surface potential and connecting the northern and southern targets at the property. Shares of American Eagle reached a quarterly peak of C$0.71 on March 28. Buy now , 3. Libero Copper (TSXV:LBC) {"@context":"http://schema.org","@type":"Corporation","name":"Libero Copper & Gold","url":"http://www.liberocopper.com","description":"Exploring and Developing Exciting Porphyry Copper-Gold Projects in the Americas\n","tickerSymbol":"TSXV:LBC","sameAs":[],"image":"https://investingnews.com/media-library/libero-copper.png?id=27864382&width=980","logo":"https://investingnews.com/media-library/libero-copper.png?id=27864382&width=210"} Press Releases Company Profile Year-to-date gain: 160 percent; market cap: C$24.24 million; current share price: C$0.52Libero Copper is an exploration company focused on its flagship Mocoa project located in Putumayo, Colombia. The site consists of six concession contracts that cover an 11,391 hectare land package. The deposit was first discovered as part of a 1973 geochemical survey backed by the United Nations and Colombian government. The site saw subsequent exploration between 1978 and 1983, then again by B2Gold (TSX:BTO,NYSE:BTG) from 2008 until 2012. The project was acquired by Libero in 2018 from B2Gold (TSX:BTO,NYSE:BTG), but has seen limited exploration. However, a resource estimate from November 2021 reported inferred values of 4.6 billion pounds of copper and 510.5 million pounds of molybdenum from 636 million MT grading 0.33 and 0.036 percent, respectively. In 2024, Libero has raised funds, announcing the closing of C$3 million private placement on February 15, followed by an additional C$2.86 million private placement on March 11. Shares of Libero reached a quarterly high of C$0.80 on March 13. Buy now , 4. Koryx Copper (TSXV:KRY) {"@context":"http://schema.org","@type":"Corporation","name":"Koryx Copper","url":"https://investingnews.com/stocks/tsxv-kry/koryx-copper/","description":"Deep-South Resources is a mineral exploration and development company.","tickerSymbol":"TSXV:KRY","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=52151330&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=52151330&width=210"} Company Profile Year-to-date gain: 155.56 percent; market cap: C$21.21 million; current share price: C$0.115Formerly Deep-South Resources, the company announced in November 2023 that it would be changing its name to Koryx Copper to better represent its core values.The company is focused on the advancement of copper exploration projects in Namibia and Zambia.Its flagship asset is the Haib copper project located in Southern Namibia near the border with South Africa. In an amended preliminary economic assessment released on January 8, the company indicated 20 million MT per year of ore processing with 85 percent copper recovery for a yearly production of 38,337 MT of copper and an additional 51,081 MT of copper sulfate.Since the start of 2024, Koryx has published a number of assay results from exploration at Haib, the most recent came on April 24. In the announcement, the company highlighted grades of 0.49 percent copper over 207 meters, including an intersection of 0.58 percent copper over 92 meters.The company said it was pleased with the results and they are demonstrating the average grade could be higher than previous resource estimates indicate. Koryx also said there were nine holes from the drill program that have yet to be reported.Shares of Koryx reached a quarterly high of C$0.80 on March 28. Buy now , 5. Chakana Copper (TSXV:PERU) {"@context":"http://schema.org","@type":"Corporation","name":"Chakana Copper","url":"https://investingnews.com/stocks/tsxv-peru/chakana-copper/","description":"Chakana Copper Corp is a Canada-based company focused on the exploration of the Soledad copper-gold-silver project located in Central Peru.","tickerSymbol":"TSXV:PERU","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=51087297&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=51087297&width=210"} Press Releases Company Profile Year-to-date gain: 133.33 percent; market cap: C$26.44 million; current share price: C$0.105Chakana Copper is a copper exploration company focused on developing its Soledad project in the Ancash region of Peru. The site hosts high-grade copper, silver and gold mineralization across 4,200 hectares. An initial inferred resource estimate released in February 2022 shows the site hosts 191,000 ounces of gold, 11.7 million ounces of silver and 59,200 MT of copper. On January 15, the company announced the closing of C$3 million in upsized funding with an investment from Gold Fields (NYSE:GFI) and former President and CEO of Sprott Holdings (TSX:SII,NYSE:SII) Rick Rule. At the time, the company said it would use the bulk of the proceeds to drill untested targets at the southern half of Soledad. Chakana followed up on April 5, announcing that a 3,000-meter drill program had commenced at the Mega-Gold, La Joya and Estremadoyro targets at Soledad. The new program will mark more than 62,000 meters of drilling at the site since 2017. Shares of Chakana reached a quarterly high of C$0.10 on March 28. Buy now , Don't forget to follow us @INN_Resource for real-time updates! Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

The first quarter of 2024 saw increasing trends in Brent Crude and West Texas Intermediate prices, attributed to ongoing tensions from the Russia-Ukraine conflict and global economic conditions. OPEC countries' production cuts and Russia's commitment to reduce exports also supported prices.Despite volatility, prices remained stable between US$70– US$87 per barrel. Natural gas prices, however, sank to multi decade lows due to warmer-than-expected weather and ample supply. Looking ahead, FocusEconomics panelists forecast a 10 percent decline in spot prices for oil over the next decade, while gas prices are expected to remain below highs set in 2022, with potential declines in Asia and Europe and steady prices in the US. Increased US LNG export capacity could lead to price convergence among regions by 2025.The price stability in the oil market also helped some oil and gas stocks register gains for the quarter. The five top oil and gas stocks on the TSX and TSXV listed below saw significant share price growth over the first three months of 2024. All year-to-date performance and share price data was obtained on April 25, 2024, using TradingView’s stock screener, and the top oil and gas stocks listed had market caps above C$10 million at that time. 1. Sintana Energy (TSXV:SEI) {"@context":"http://schema.org","@type":"Corporation","name":"Sintana Energy Inc.","url":"http://www.sintanaenergy.com","description":"Sintana Energy Inc is a Canada-based oil and gas exploration company. The company has interests in the Magdalena Basin, Colombia. Its geographical segments are United States, Canada, and Colombia.","tickerSymbol":"TSXV:SEI","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=30828853&width=980","logo":"https://investingnews.com/media-library/image.gif?id=30828853&width=210"} Company Profile Year-to-date gain: 222.7 percent; market cap: C$396.4 million; share price: C$1.07 Sintana Energy, an oil and gas exploration and development company, operates across five highly prospective onshore and offshore petroleum exploration licenses in Namibia and Colombia.Share prices saw early year tailwinds after the company released two updates on exploration activity in Namibia’s Orange Basin. During the exploration campaign of Petroleum Exploration License 83 (PEL 83) two significant light oil discoveries were made in January. February saw more share price growth when Sintana was listed on the TSX Venture 50 ranking as the top energy performer.In mid-March Sintana announced the results of its warrant exercise activity, revealing an approximate 99 percent exercise rate, which generated an additional C$22.5 million in cash resources for the company. A few days later the company reported a third light oil discovery for the quarter in the Orange Basin.Shares rose to a quarterly high of C$0.58 at the end of March. Buy now , 2. MEG Energy (TSX:MEG) {"@context":"http://schema.org","@type":"Corporation","name":"MEG Energy","url":"https://investingnews.com/stocks/tsx-meg/meg-energy/","description":"MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada.","tickerSymbol":"TSX:MEG","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=52151353&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=52151353&width=210"} Company Profile Year-to-date gain: 31.8 percent; market cap: C$8.6 billion; current share price: C$31.57MEG is an energy company with a focus on in situ thermal oil production in Alberta's southern Athabasca oil region. Utilizing innovative enhanced oil recovery projects, including steam-assisted gravity drainage extraction methods, the company aims to increase oil recovery responsibly while reducing carbon emissions.Shares of MEG spent the three-month session trending higher reaching a Q1 high of C$31.48 at the end of March.In late February MEG reported its fourth-quarter and full-year 2023 financial and operating results. Included in the results was record annual bitumen production and increased funds flow from operations.MEG's production outlook for 2024 remains positive, with plans to optimize operations and enhance capital efficiency. Additionally, the company announced a capital allocation strategy focused on debt reduction and returning capital to shareholders.On March 6, the energy company launched a share buyback program, aiming to repurchase up to 24,007,526 common shares between March 11, 2024, to March 10, 2025. This initiative is part of the company's strategy to enhance shareholder returns and reduce debt. Buy now , 3. Obsidian Energy (TSX:OBE) {"@context":"http://schema.org","@type":"Corporation","name":"Obsidian Energy Ltd.","url":"https://www.obsidianenergy.com","description":"Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin. The company generates the majority of the revenue from the Crude oil sale.","tickerSymbol":"TSX:OBE","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=33100122&width=980","logo":"https://investingnews.com/media-library/image.gif?id=33100122&width=210"} Company Profile Year-to-date gain: 29.4 percent; market cap: C$912.9 million; current share price: C$11.79Obsidian Energy is an intermediate-sized oil and gas producer, with a portfolio of assets that yield approximately 32,000 barrels of oil equivalent per day. The company's primary operations are in the Peace River, Cardium, and Viking regions of Alberta, Canada. In early January, Obsidian released its full year 2023 results which included a 6 percent year-over-year increase. Later in the month the Calgary-based company provided the results of a 2023 independent reserves evaluation.“We replaced 124 percent of 2023 production on a proved developed producing (PDP) basis, 157 percent on a total proved (1P) basis and 217 percent on a total proved plus probable (2P) basis,” the statement read.In February Obsidian announced the completion of the first half 2024 capital program, highlighting ongoing development in the Willesden Green/Pembina assets in Cardium and exploration and appraisal activity in the Clearwater and Bluesky formations in Peace River.Additionally, Optimization of Viking wells drilled in late 2023 yielded strong production results.“Current production has surpassed 36,500 barrels of oil equivalent per day (boe/d) based on field estimates. Despite production impacts from January's cold weather, operations have resumed normalcy, with production slightly exceeding planned targets year-to-date, aided by strong initial rates from wells brought online in February,” the company said.In March, Obsidian successfully completed a previously announced offer to purchase 2 million of its outstanding senior unsecured notes.Share reached a quarterly high on March 31 and were trading for C$11.26. Buy now , 4. Imperial Oil (TSX:IMO) Year-to-date gain: 27.25 percent; market cap: C$51.92 billion; current share price: C$96.91Calgary-based Imperial Oil is a prominent Canadian energy company involved in exploration, production, refining, and marketing of petroleum products. With a history spanning over 140 years, Imperial operates diverse assets across Canada, including oil sands, conventional crude oil, and natural gas assets.On February 2, Imperial released its Q4 2023 results which highlighted upstream production of 452,000 gross oil-equivalent barrels per day, “marking its highest level in over three decades.”Additionally, Imperial initiated steam injection at Cold Lake Grand Rapids, pioneering the industry's first deployment of a solvent assisted SAGD technology. Downstream operations performed strongly, with refinery capacity utilization reaching 94 percent, following the successful completion of the largest planned turnaround at the Sarnia site.The company returned more than C$2.7 billion to shareholders, including the completion of a substantial issuer bid. Additionally, Imperial increased its quarterly dividend by 20 percent, from C$0.50 to C$0.60 cents per share. Lastly, the company released its annual corporate Sustainability report, highlighting its sustainability focus areas and achievements.In March Imperial implemented temporary measures to ensure fuel supplies to Winnipeg during unplanned pipeline maintenance. The Winnipeg Products Pipeline, which transports gasoline, diesel, and jet fuel to the area, required preventative maintenance, including the replacement of a section under the Red River.The work that began in mid-March is expected to take three months.Shares marked a Q1 high of C$94.69 on March 31. 5. Condor Energies (TSX:CDR) {"@context":"http://schema.org","@type":"Corporation","name":"Condor Energies","url":"https://investingnews.com/stocks/tsx-cdr/condor-energies/","description":"Condor Energies is an internationally-focused, publicly traded energy company uniquely positioned on the doorstep of European and Asian markets.","tickerSymbol":"TSX:CDR","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=34639427&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=34639427&width=210"} Company Profile Year-to-date gain: 23.94 percent; market cap: C$99.4 million; current share price: C$1.76Condor Energies concentrates on the exploration, development, and production of natural gas resources across Turkey, Kazakhstan, and Uzbekistan. Notably, the company is currently building Central Asia's inaugural liquefied natural gas facility.Furthermore, in mid-2023, it disclosed the procurement of a lithium brine mining license in Kazakhstan.In late January Condor secured a natural gas allocation from the Government of Kazakhstan for its maiden modular liquefied natural gas (LNG) production facility. The gas allocation will be instrumental in liquefying feed gas to produce up to 350 tonnes per day of LNG, equivalent to about 210,000 gallons per day, the company said.Condor shares rose to a quarterly high of C$2.76 on February 20.In March, the energy company began a production enhancement operation for eight natural gas-condensate fields in Uzbekistan. Gas output will be directed to the domestic market through state entity agreements. Condor has agreed to cover project costs and receive a share of the generated revenues. The production increase plans will be facilitated through several measures including artificial lift and drilling programs, exploring deeper horizons, and conducting seismic reprocessing. Buy now , Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural gas exceeded its first target today at the completion of a rising ABCD pattern. The high for Tuesday is 2.09 and the pattern target was 2.07. Resistance was seen off the high and trading is happening at the lows of the day at the time of this writing. It lo

FXEmpire.com - Natural Gas Natural Gas 300424 Daily Chart Natural Gas is losing ground after an unsuccessful attempt to settle above the $2.00 level.

FXEmpire.com - Gold Gold 300424 Daily Chart Gold is under strong pressure as traders focus on rising Treasury yields and prepare for hawkish comments from Fed Chair Jerome Powell. The Fed will announce its Interest Rate Decision tomorrow.

In a bid to expand its electric vehicle (EV) capabilities, Honda Motor (NYSE:HMC) has announced plans to invest approximately C$15 billion to establish a comprehensive EV value chain in Ontario, Canada. The investment reflects Honda's efforts to meet the increasing long-term demand for EVs in North America.“Today's announcement is a historic investment by a manufacturer in the Canadian auto industry,” said Honda Canada President and CEO Jean Marc Leclerc in a company announcement on April 25. “It proudly honors the highly skilled associates who have earned a global reputation for manufacturing excellence and represents Honda’s recognition of the long-term attractiveness of the Canadian electric vehicle manufacturing ecosystem.”The proposed EV value chain will include the construction of an innovative EV assembly plant and a standalone battery manufacturing facility in Alliston, Ontario. Additionally, Honda plans to build a cathode active material and precursor (CAM/pCAM) processing plant and a separator plant through joint venture partnerships.Once operational, the EV assembly plant is expected to produce up to 240,000 vehicles per year, with the battery manufacturing facility boasting a capacity of 36 gigawatt hours annually. The project is anticipated to create over 1,000 new manufacturing jobs in Ontario, while also generating significant spinoff employment opportunities across various sectors."Today’s announcement is a game changer for manufacturing in Canada,” said Justin Trudeau, Canada’s prime minister. “Honda’s investment is a vote of confidence in Canada, in Canadian auto workers, and in our manufacturing sector. Together, we’re creating good-paying jobs, growing our economy, and keeping our air clean."Honda's investment aligns with its transition toward carbon neutrality, with a target to achieve 100 percent zero-emission EV sales by 2040. The move also involves supplementary investments such as retooling existing facilities and establishing a joint venture EV battery plant with LG Energy Solution (KRX:373220), with an expected investment of US$4.4 billion.The company views the establishment of the EV value chain in Ontario as a strategic step toward achieving this goal, leveraging the region's skilled workforce and supportive business environment.Collaboration with the Canadian and Ontario governments will also play a crucial role in driving innovation and providing incentives to support the project. The federal government's new investment tax credits and provincial incentives aim to promote low-emission manufacturing and attract investments in EV supply chain segments. North America's EV landscape The North American EV market is slated for substantial growth, driven by increasing EV adoption and supportive government initiatives, according to a forecast from Fortune Business Insights.As the third largest region in the global EV market, the area is projected to experience a CAGR of 16.1 percent during the forecast period. The market size is expected to soar from US$62.73 billion in 2022 to US$228.47 billion by 2030.In the US, both consumers and the government are increasingly investing in electric mobility. The US Department of Transportation's approval of EV charging network plans for all states, covering approximately 75,000 miles of highways, underscores the nation's commitment to expanding EV infrastructure.Canada also boasts untapped potential in the production of essential materials for EV components. As one of the top five countries producing cobalt, copper, graphite, precious metals, nickel and uranium, Canada's expansion into lithium, magnesium and rare earths production further strengthens its EV market position. Don't forget to follow us @INN_Technology for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Endeavour Mining (TSX:EDV,OTCQX:EDVMF) reported its first gold pour at the Sabodala-Massawa BIOX expansion in Senegal just 24 months after construction of the project commenced. “We are proud to have achieved our first gold pour at the Sabodala-Massawa BIOX Expansion with over 3.5 million man hours worked with no lost time injuries,” commented CEO Ian Cockerill in the company’s announcement. “We have commissioned the project and delivered first gold in only 2 years, marking the fourth capital project that we have completed in the last 10 years. All of these have been completed in two years or less, and have been delivered on schedule, on budget and with no lost time injuries. This is a testament to the quality of our projects team and the competitive advantage we have in West Africa,” he added.The operation is expected to achieve commercial production in late Q2 of this year, ramping up to its nameplate capacity of 1.2 million metric tons annually in Q3. Since the start of wet commissioning in February, approximately 50,000 metric tons of ore have been processed through the project, with operations meeting expectations so far.The gravity circuit's first gold pour came on April 18, followed by the first gold pour from the BIOX circuit on April 28. Endeavour planning "aggressive" exploration campaign The Sabodala-Massawa expansion, which began in early 2022, is anticipated to yield incremental production of 1.35 million ounces of gold at an all-in sustaining cost (AISC) of US$576 per ounce over the life of the project.When it was announced, the company said the work would elevate Sabodala-Massawa to expected average annual production of 373,000 ounces over the next five years at an average AISC of US$745 per ounce.With an upfront capital requirement of US$290 million, the expansion project was also expected to be self-funded by the existing Sabodala-Massawa operation. Endeavour acquired Sabodala-Massawa from Teranga Gold in February 2021. The asset was formed through Teranga's acquisition of the Massawa project from Barrick Gold (TSX:ABX,NYSE:GOLD) in early 2020, which combined the Sabodala mill and deposits with the nearby Massawa deposits.The mine is comprised of two mining licenses, with Endeavour holding a 90 percent stake in each license, and the government of Senegal holding the remaining interest.Looking ahead, Endeavour plans to focus on an aggressive exploration program at Sabodala-Massawa, targeting resource-to-reserve conversion and adding near-mine refractory and non-refractory resources. Proven and probable reserves currently amount to 3.5 million ounces of gold, with measured and indicated resources reaching a figure of 5.4 million ounces. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural Gas Technical Analysis We’ve been in a consolidation phase for some time in the natural gas markets and judging by the early action on Tuesday, we are going to stay there. The market could very well pull back from here, but I don’t necessarily think that it

FXEmpire.com - Market Overview Natural gas futures held above $2 on Tuesday, extending gains from the previous session. The rally was fueled by several factors, including the full restart of Freeport LNG’s third train, supply interruptions in the Permian Basin, and forecasts indi

FXEmpire.com - Market Overview In Tuesday’s early trade, oil prices modestly fell as progress in Israel-Hamas ceasefire talks eased tensions in the Middle East, potentially i

Prices for Brent Crude and West Texas Intermediate trended higher during the first quarter of 2024, following a volatile 2023 which saw prices make broad fluctuations but end the year range bound at their start levels.Ongoing tensions stemming from the Russia-Ukraine conflict led to concerns about potential disruptions to global oil supplies, contributing price support. Global economic conditions, such as inflation concerns, monetary policy decisions, and geopolitical tensions in oil-producing regions, played a significant role in shaping oil price movements during the quarter with both benchmarks registering a 14 percent and 18 percent (WTI) increase over the 90-day session.Prices were also supported by several OPEC countries, including Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, extending voluntary production cuts totaling 2.2 million barrels per day to support oil market stability.Additionally, Russia also committed to a voluntary production cut of 471 thousand barrels per day for the second quarter of 2024, alongside reductions in exports.OPEC’s decision to curb output in the name of stability was a factor Eric Nuttall partner and senior portfolio manager at Ninepoint Partners pointed to as a Q1 catalyst.“Oil volatility has actually fallen,” said Nuttall during an April 5 interview. “You wouldn't know it necessarily when looking at the oil price, but volatility is low. I think you can attribute that to the OPEC cut, that was one of the biggest goals of OPEC’s intervention into the market was to reduce volatility.”As Nuttall explained, the effort to minimize volatility was successful and helped keep the benchmarks between US$70 – US$87 per barrel throughout the 90-day session. ​Oil market update: Rebounding prices Chart via TradingEconomicsAfter reaching a 2023 high of US$93.10 (Brent) on September 11, prices spent the remainder of the year sliding until bottoming at US$75.80 on December 4.WTI followed a similar trajectory displaying slightly more volatility, reaching a yearly high of US$91.43 in late September, then slipping to US$68.71 in early December. Chart via TradingEconomicsThe subsequent upswing in prices can be attributed to several factors, according to Nuttall, Firstly, values are rebounding from a period of low activity, driven by unfounded concerns about weak demand and exaggerated fears of increased US shale production.Secondly, OPEC's production cuts which played a significant role in reducing oil inventories.He explained that typically, demand is weakest at the beginning of the year, but this time, inventories have only seen a minimal increase compared to the substantial buildup last year. This underscores the effectiveness of OPEC's cuts in counteracting the impact of strategic petroleum reserve releases and stabilizing oil prices.“Lastly, we do have a geopolitical risk premium and the oil price now, I'm guessing US$5 a barrel,” said Nuttall.He continued: “We haven't had a risk premium in quite a while. But what we're seeing in the Middle East, what we're seeing [with] Russia, Ukraine, it just fast forwarded where I thought we were going to be, I thought we'd be at US$90bbl in the summertime, we’re there a few months earlier than I thought.” ​Oil market update: Strategic reserves At the end of January oil prices dipped below US$77bbl (Brent) following a rally that took futures into overbought territory. Despite military tensions escalating in the Middle East, abundant supplies contributed to the decline, with OPEC+ exports exerting additional pressure on prices.Prices began to recover in early February, breaking through the US$80bbl level on February 5, and remaining above the threshold for the remainder of the quarter.On February 26, The US Department of Energy released a solicitation to purchase up to 30 million barrels of crude oil for the Strategic Petroleum Reserve (SPR), aimed at enhancing the nation's energy security.In 2022 the Biden administration withdrew 32.3 million barrels from the SPR for domestic consumption.“Analysis from the Department of the Treasury indicates that SPR releases in 2022, along with coordinated releases from international partners, reduced gasoline prices by as much as 40 cents per gallon,” the government announcement noted.Less than a week later the administration scrapped a purchase that would have added 3 million barrels back to the SPR, citing high prices.While Ninepoint’s Nuttall doesn’t think SPR restocking will impact broader oil prices, he was surprised by the government’s decision to restock.“The biggest threat to his re-election is inflation. And the biggest input to inflation is energy pricing, specifically oil and gasoline,” said Nuttall. “So, it was counterintuitive to me, and I think it was purely for political theater, that he started to refill it.”By the end of March prices had breached US$85bbl and closed the three-month period above US90bbl. ​Oil market update: Long term bullishness In a special report from FocusEconomics, panelists are forecasting a 10 percent decline in spot prices for Brent and WTI crude oil over the next decade compared to 2023 levels.However, prices are anticipated to remain historically high in the near term due to increased demand from China and India.The consensus among the FocusEconomics panelist is for Brent crude oil prices toaverage around US$85 per barrel for the remainder of the year.Nuttall is taking a more bullish stance, supported by an increase in demand while global inventories are already at multi-year lows.Using the Days of Supply metric, a calculation that estimates how many days current inventory levels will last, based on the current consumption rate, Nuttall expects inventories to reach the “lowest level in history later this year.”“That's very supportive of a high price,” he said.Similar to FocusEconomics’ analysis, Nuttall sees oil prices remaining in the US$90bbl range.He noted that geopolitical events have accelerated the approach to this price target, and the subsequent trajectory of prices will depend on when Saudi Arabia decides to return barrels, the pace of that return, and developments in the Middle East and Russia.While there are uncertainties, such as potential infrastructure damage and the impact on oil flow, factors like stronger US demand, better-than-expected European performance, and solid demand from India contribute to his bullish outlook.“But we're not calling for US$150 oil, we just don't think that's reasonable right now.” ​Gas market update: Q1 2024 in review While oil prices remained relatively stable throughout Q1 2024, gas prices sank to multi decade lows, hitting US$1.55 per Metric Million British Thermal Unit (MMBtu).The decline was attributed to a warmer than expected winter in the Northern Hemisphere and ample supply. Chart via TradingEconomics“Higher LNG production (up by 3 percent y-o-y), together with stronger piped gas deliveries to Europe and China, further eased supply fundamentals and supported demand growth,” the International Energy Agency’s (IEA) latest gas report stated.The market overview also noted that global demand was up 2 percent for the quarter but was more than offset by the production uptick. ​Gas market forecast: Geopolitical fragility Looking forward prices are expected to remain well below the highs set in 2022 when values neared US$10MMBtu, propelled by market uncertainty brought on by Russia’s invasion of Ukraine and fears around supply security.After a steep decline in late 2022, prices have remained below US$5MMBtu throughout 2023. Although concerns about the Panama Canal and Red Sea disruptions led to speculation about a geopolitical premium, the uptick has yet to materialize in the gas market.For the remainder of the year, FocusEconomics panelists expect natural gas prices to decrease in Asia and Europe compared to 2023 averages, while remaining steady in the US, staying below the pre-pandemic 10-year average.Prices could see declines brought on by an abundance in gas inventories in all regions, attributed to mild weather conditions from the El Niño pattern and subdued industrial activity.Europe will continue to be the region to watch as ongoing sanctions on Russian gas, conflict in Ukraine and supply security trends could add tailwinds to prices.“The structural deficit in European natural gas has yet to be fully resolved with increased LNG supply not yet fully making up for lost Russian imports. Thus, European gas prices remain vulnerable to supply interruptions or increases in demand,” a Goldman Sachs (NYSE:GS) analyst said. “This is especially the case during winter, when weather-dependent heating comprises the bulk of demand and bouts of cold weather can lead to rapidly falling stocks and higher prices.”Moving into 2025, increased US LNG export capacity could facilitate a price convergence among regions by the end of the year.“In 2025, US natural gas prices are expected to surpass the pre-pandemic average, with Europe seeing a slight increase and Asia maintaining stability,” FocusEconomics Natural Gas Market Outlook read.” The absence of El Niño is predicted to boost heating demand, while industrial output growth will drive up consumption.” Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

The gold price started 2024 coming off December's record highs. A combination of central bank buying and geopolitical uncertainty helped gold remain above US$2,100 per ounce for the first eight weeks of the year.However, a rally in early March gave gold renewed momentum. Support came on the back of contracting US manufacturing numbers, which caused investors to speculate that the US Federal Reserve would start rate cuts in June. This belief gained further strength when the central bank met on March 19 and 20, and indicated that it was done with rate hikes and was expecting to make three cuts before the end of 2024.This news caused the gold price to see significant gains, setting a quarterly high of US$2,264.52 on March 31.How have these gains affected gold stocks on the ASX? Read on to learn about the biggest gainers in Q1. Data for this article was retrieved on April 2, 2024, using TradingView's stock screener, and only companies with market capitalisations greater than AU$50 million are included. 1. WIA Gold (ASX:WIA) {"@context":"http://schema.org","@type":"Corporation","name":"Wia Gold","url":"https://investingnews.com/stocks/asx-wia/wia-gold/","description":"Wia Gold Ltd is a gold focused explorer with advanced exploration projects in Cote d'Ivoire and a highly prospective land package in Namibia.","tickerSymbol":"ASX:WIA","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=52142976&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=52142976&width=210"} Company Profile Year-to-date gain: 85.71 percent; market cap: AU$75.5 million; current share price: AU$0.08WIA Gold is an exploration company focused on developing projects in Africa.The company's primary goal is to advance the Kokoseb deposit at its Damaran gold project. Kokoseb is located on WIA's Okombahe exploration licence, which consists of 12 tenements across a 2,700 square kilometre area within the Damaran Belt in Northwest Namibia. WIA Gold holds an 80 percent stake in the exploration licence, with the remaining 20 percent owned by Namibian state-owned mining company Epangelo.WIA Gold began exploration at the site in late 2021, with drilling commencing during the second quarter of 2022. On April 16, the company released an updated resource estimate for Kokoseb, reporting 2.12 million ounces of gold from 66 million tonnes at 1 gram per tonne (g/t) gold with a cut off of 0.5 g/t gold.The company also owns the early stage Bouafle project in Côte d'Ivoire, which has been granted two exploration permits, with a third under application. On January 22, the company reported the discovery of mineralised trends at the site following the drilling of 142 aircore holes. Results returned a highlighted intercept of 6.04 g/t gold over 10 metres.Shares of WIA Gold reached a quarterly high of AU$0.082 on March 21 alongside a rally in the gold price. Buy now , 2. Southern Cross Gold (ASX:SXG) {"@context":"http://schema.org","@type":"Corporation","name":"Southern Cross Gold","url":"https://investingnews.com/stocks/asx-sxg/southern-cross-gold/","description":"Southern Cross Gold Ltd is a mining exploration company focused on gold exploration with projects in Victoria and Queensland, Australia.","tickerSymbol":"ASX:SXG","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=52142995&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=52142995&width=210"} Company Profile Year-to-date gain: 46.61 percent; market cap: AU$341.4 million; current share price: AU$1.84Southern Cross Gold is an exploration company that is working to advance its flagship Sunday Creek project located north of Melbourne, Australia. The property covers an area of 19,385 hectares and hosted previous gold mining between 1880 and 1920. More recently, it has seen exploration work during the 1990s that was focused on shallow, previously mined workings. Since being spun out by Mawson Gold (TSXV:MAW,OTC Pink:MWSNF) in 2021, Southern Cross has drilled 110 holes for a total of 44,083 metres along 1,200 metres of strike.To date, the company has not prepared a resource estimate for Sunday Creek, but exploration at the site has revealed high-quality assays. On March 5, the company reported the best hole drilled so far, with an interval of 7.2 g/t gold over 455.3 metres, including an intersection of 2,318 g/t gold over 1 metre.The most recent exploration results from Sunday Creek came on April 15, when the company reported eight intervals over 50 g/t, including 327.7 g/t gold over 0.9 metres. Southern Cross said exploration at the site will continue as it works on an additional 10 holes focused on demonstrating the district-scale potential of Sunday Creek.Shares of Southern Cross reached a quarterly high of AU$2.05 on March 11. Buy now , 3. Theta Gold Mines (ASX:TGM) {"@context":"http://schema.org","@type":"Corporation","name":"Theta Gold Mines","url":"http://www.thetagoldmines.com","description":"Theta Gold Mines Ltd is an Australian gold development company that holds gold assets in the South African gold mining region.","tickerSymbol":"ASX:TGM","sameAs":[],"image":"https://investingnews.com/media-library/image.png?id=51524897&width=980","logo":"https://investingnews.com/media-library/image.png?id=51524897&width=210"} Company Profile Year-to-date gain: 45.83 percent; market cap: AU$124.52 million; current share price: AU$0.18 Theta Gold Mines is an Australian gold development and exploration company with operations focused on the Eastern Transvaal gold fields northeast of Johannesburg, South Africa. Its core project is a 74 percent stake in the Transvaal Gold Mining Estate (TGME), South Africa’s first mining company; the minority 26 percent stake is owned by Black Economic Empowerment, which includes a group of local community and employee trusts along with a strategic partner. The TGME gold mine site hosts four planned mines. Theta announced on February 14 that it had selected Yellow River, a subsidiary of Power Construction Corporation of China (SHA:601669), as its preferred partner to build the first stage of the mining facility at the TGME gold plant. The two companies are now working on the contract, which it anticipates will be finalised in Q2. A month later, on March 14, Theta announced it was fully permitted for three of the four mines at TGME. It said its plan moving forward was to focus on finalising funding packages and work with Power Construction to build the gold plant. The company said it is a major development and will pave the way for the commencement of mining operations. Shares of Theta reached a quarterly high of AU$0.175 on March 28. Buy now , 4. Tribune Resources (ASX:TBR) {"@context":"http://schema.org","@type":"Corporation","name":"TRIBUNE FPO [TBR]","url":"https://investingnews.com/stocks/asx-tbr/tribune-fpo-tbr/","description":"Tribune Resources Ltd develops and produces mineral properties in Australia. It explores for gold deposits. The company focuses on the East Kundana and West Kundana joint venture tenements.","tickerSymbol":"ASX:TBR","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=51524815&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=51524815&width=210"} Company Profile Year-to-date gain: 33.9 percent; market cap: AU$199.38 million; current share price: AU$3.95ASX-listed Tribune Resources is a gold exploration and production company with exploration assets in Ghana and the Philippines, as well as a stake in mining operations in Australia.Tribune’s primary focus has been on the East Kundana joint venture, which includes two underground mines: Raleigh and Rubicon-Hornet-Pegasus. Tribune owns 36.75 percent of East Kundana alongside its partners Gilt Edge Mining, a subsidiary of Northern Star Resources (ASX:NST,OTC Pink:NESRF), at 51 percent, and Rand Mining (ASX:RND), which owns the remaining 12.25 percent. The joint venture partners are also further exploring and developing East Kundana.The company also has two wholly owned exploration projects. The Japa gold project is located in Western Ghana's Akropong Belt, an offshoot of the Ashanti Belt, and hosts indicated and inferred resources totaling 1.81 million ounces of gold.Tribune’s other exploration project is the Diwalwal gold project, located 120 kilometres northeast of Davao City, Philippines. The site consists of several targets, including the Balite and Buenas Tinago veins, which have seen previous small-scale mining and host numerous access tunnels. The company has worked to refurbish these while exploring other targets.Shares of Tribune have seen modest gains in 2024 following the January 31 release of the company’s report for the quarter ending in December 2023. In the announcement, it said its share of gold produced from East Kundana was 3,488 ounces for the period. Aside from that, the company discussed ongoing work at the main vein at Raleigh, including resource definition drilling, which was completed during the quarter.The company also announced it was initiating a share buyback that would see Tribune purchase 5,246,807 shares between February 21, 2024, and February 20, 2025. This represents 10 percent of its total shares.Tribune shares reached a quarterly high of AU$3.80 on March 28. Buy now , 5. West African Resources (ASX:WAF) {"@context":"http://schema.org","@type":"Corporation","name":"WESTAFRICA FPO [WAF]","url":"https://investingnews.com/stocks/au-waf/westafrica-fpo-waf/","description":"West African Resources Ltd is engaged in mineral exploration in Burkina Faso. It focuses on the development of the Sanbrado Gold Project.","tickerSymbol":"AU:WAF","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=52142998&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=52142998&width=210"} Company Profile Year-to-date gain: 33.51 percent; market cap: AU$1.23 billion; current share price: AU$1.28West African Resources is a mid-tier gold-mining and exploration company with operations in Burkina Faso.The company’s principal operation is the Sanbrado gold mine, located 90 kilometres east-southeast of the capital of Ouagadougou. West African holds a 90 percent stake in the mine, with the remaining 10 percent being owned by the Burkina Faso government. The mine is comprised of both open-pit and underground mines.In an announcement on January 10, the company reported that it had achieved its 2023 guidance. It produced 226,823 ounces of gold at Sanbrado and saw sales of 224,970 ounces. In addition to its mining operations at Sanbrado, the company has also been working to expand the underground resources at the site. West African reported results from exploration at the M1S deposit at Sanbrado on March 15 and April 16. The two press releases show highlighted assay results of 133.1 g/t over 2 metres and 55.79 g/t over 24 metres, respectively.West African has also been working to advance its Toega gold deposit. On March 22, the Burkina Faso Council of Ministers recommended the approval of a mining permit for the site. Under the terms of the country’s mining code, this will give the company 90 percent ownership of the mine, with the remaining 10 percent held by the state.According to the company, the deposit hosts a resource of 1.27 million ounces of gold with reserves of 569,000 ounces. It is expected to begin delivering ore to the Sanbrado processing plant starting in 2025.Shares of West African reached a quarterly high of AU$1.20 on March 28. Buy now , FAQs for ASX gold stocks How to invest in gold on the ASX? As Australia is a top gold-mining jurisdiction and the country's government is supportive of mining, there are plenty of options for investing in gold on the ASX. Between gold miners operating major projects and gold explorers hunting for the next significant gold discovery, investors can choose what kind of company matches their risk appetite and portfolio.When looking for a gold company to invest in, be sure to do your due diligence and learn about the company's key characteristics, including its leadership team, its finances and the geology of its projects. How to buy gold on the ASX? Once you’ve selected a company or multiple companies to invest in, you can buy gold stocks using trading apps with access to ASX stocks, or you can get the help of a stock broker. How to buy gold ETFs on the ASX? For investors who prefer broader exposure to a sector, exchange-traded funds (ETFs) are a good option, and the ASX is home to multiple gold-focused ETFs. Because they are traded on exchanges like stocks, you can buy ETFs using the same methods described above. ASX-listed gold ETFs to consider include:ETFS Physical Gold (ASX:GOLD), which promises "low-cost access to physical gold via the stock exchange" and can be redeemed for physical gold.Perth Mint Gold (ASX:PMGOLD), which tracks the international price of physical gold.BetaShares Gold Bullion (ASX:QAU), which also tracks the physical bullion price.The Van Eck Gold Miners ETF (ASX:GDX), which tracks the NYSE Arca Gold Miners Index (INDEXNYSEGIS:GDMNTR). Don’t forget to follow us @INN_Australia for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.