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Gold made another run toward record highs on Thursday as U.S. banking concerns accelerated a flight to the safe-haven asset and sustained its stellar rally driven by bets for a pause in U.S. rate hikes.

Joe McElroy got into his Honda sedan one morning in late 2020, turned the key, and heard a loud screech. “Gotdamn,” he said. As a mechanic, he knew instantly that his car’s catalytic converter — a football-sized device on the undercarriage between the engine and muffler that reduces environmentally harmful exhaust emissions — had been stolen, sawed off overnight while the car sat in the driveway ...

The board of Australia's Newcrest Mining has recommended the latest takeover offer of bigger sector player Newmont, which last month valued the target company at $19.5 billion. "The latest offer is one that the board would be prepared to recommend subject to successful due diligence during the period," interim Newcrest chief executive Sherry Duhe said this week, as quoted by Bloomberg.

Comex gold futures prices are up and overnight hit a new record high of $2,085.40 an ounce, on safe-haven demand amid a jittery U.S. banking system and worries about a U.S. and/or global economic recession. Silver prices are also higher. June gold was last up $13.80 at $2,050.90 and July silver was up $0.234 at $25.915.

Gold prices fell 0.5% to $1,980.78 per ounce on May 3 due to the strengthening of the US dollar ahead of an interest rate hike decision to be made later in the week by the Federal Reserve. Meanwhile, JPMorgan acquired a majority of assets and liabilities of First Republic Bank. "If we see a meaningful downturn in US economic data that expanded rate cut expectations for the back half of this year ...

South Africa’s Sibanye Stillwater has resumed output at its Stillwater West mine in Montana, United States, and production should be back to normal around the end of April, the company said on Monday, after repairs to shaft infrastructure.

The theft of $20 million in gold and other high-end items from Pearson International Airport was likely a well-planned professional job and if authorities don’t get the gold back quickly, it’s likely gone forever.

The gold market is clinging to $2,000 an ounce heading into the weekend; however, strong neutral sentiment in the marketplace suggests that the precious metal is in no hurry to go anywhere anytime soon.

The US is considering tough new rules that would require two-thirds of new vehicles to be electric by 2032. The proposed regulations - revealed by the Biden Administration’s Environmental Protection Agency yesterday - would set tough greenhouse gas emissions limits on the car industry.

In November 2022 the European Commission proposed new Euro 7 standards to reduce pollutant emissions from vehicles and improve air quality. Their stated aims were to ensure cleaner vehicles on the road and improved air quality, protecting the health of citizens and the environment.