Gold price holds steady: planning implications for mine project economics
Reviewed by Joe Ashwell

First reported on MINING.com
30 Second Briefing
Gold steadied on Tuesday above $4,400/oz after falling as much as 2.7% in Asian trading, pausing a nine-day slide that has left bullion 21% below its all‑time high and 15% lower since the start of the Middle East war. Frank Monkam of Buffalo Bayou Commodities cites hawkish repricing of US rate expectations, a stronger dollar, and forced selling amid bond and equity declines, with deleveraging by retail investors and emerging‑market central banks liquidating reserves. Despite near‑term downside flagged by Standard Chartered and TD Securities, Ed Yardeni still targets $5,000/oz by end‑2026 and $10,000 by 2030.
Technical Brief
- Spot gold’s intraday swing reached 2.7% during Asian hours, indicating elevated short-term price volatility.
- US gold futures mirrored spot moves but closed marginally positive at +0.2% on the session.
- Liquidity stress from concurrent bond and equity declines is triggering forced bullion sales to meet margin calls.
- Frank Monkam (Buffalo Bayou Commodities) links the pullback to higher US yields and a stronger dollar environment.
- Emerging-market central banks are reported to be liquidating bullion reserves to bolster foreign-exchange cover amid high oil prices.
- Suki Cooper (Standard Chartered) notes gold often faces 4–6 weeks of downside after “extreme distress” episodes.
- Reference is made to 2022’s months-long post-Ukraine-invasion decline, driven by energy-price shocks and inflation concerns.
- Ed Yardeni maintains a $10,000/oz 2030 target but trims his end‑2026 forecast from $6,000 to $5,000.
Our Take
Liberty Gold’s $72.5M sale of the Goldstrike project in Utah stands out in our database as one of the few recent US gold asset disposals executed into a falling bullion tape, suggesting buyers are taking a longer‑dated view aligned with bank forecasts of roughly 15% upside by end‑2026.
BHP’s Jansen potash project appearing alongside gold and polymetallic nodules in this piece underlines how diversified majors in our coverage are leaning on potash’s 2–3% annual demand growth to offset earnings volatility from more price‑sensitive metals like gold.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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