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A historic price for the world’s oldest safe-haven asset signals waning confidence in the dollar and mounting pressure on the Fed.

SURPRISINGLY, one of the best-performing metal this year is not gold but ruthenium. This is especially relevant for South Africa as it will supply 71% of global primary ruthenium in 2025, according to Johnson Matthey, a global leader in sustainable technologies.

TANAKA Holds Press Conference to Commemorate Its 140th Anniversary Group CEO Koichiro Tanaka and Other Speakers Share TANAKA's Future Outlook and Diverse Range of Products and Solutions also Exhibited

One-kilo bars are the most common form of gold traded on Comex, the world’s largest gold futures market, with a majority coming from Switzerland, the world’s largest gold refiner and a major gold exporter to the U.S. that now faces U.S. tariffs of 39%.

“When a market tightens like this — whether it’s for good reasons, bad reasons, idiosyncratic reasons — it should pull material out of the shadows,” said Jay Tatum, who runs a metals fund at commodities-focused Valent Asset Management and has been bullish on platinum for about two years. Lease rates suggest the “acute tightness” isn’t over, he said.

The platinum price rally during the first half of 2025 has helped most mines recover from loss-making positions but the industry is still far from adding new production, Valterra Platinum CEO Craig Miller said on Monda

Johannesburg, South Africa-based precious metals mining and production firm Sibanye-Stillwater Group says it has entered into a purchase agreement to acquire Metallix Refining Inc., Shrewsbury, New Jersey, for $82 million.

SIBANYE-Stillwater announced on Monday it agreed to buy US-based precious metals recycling business Metallix Refining for $82m (R1.5bn) in cash. Metallix Refining, a profitable company in business for 60 years, would complement Sibanye-Stillwater’s Reldan which it acquired last year for $155.9m.

The platinum group metal is prized for its exceptional hardness and versatility across electronics, energy storage, and chemicals manufacturing. But it’s the AI revolution — particularly in hard disks — that’s driven recent gains, according to SFA (Oxford), a critical minerals consultancy, the report said.

Platinum soared nearly 50%, followed by gold (+26%), silver (+25%) and palladium (+21%). Meanwhile, copper had its own standout run, driven by rising industrial demand and geopolitical catalysts.