precious metals News & Analysis
2 articles
Market Mood
Singapore (SGD) to Begin Gold Clearing in 2023 for Market Hub
Singapore plans to initiate gold clearing services within the year as part of its strategy to establish itself as a key market hub for precious metals. This move is expected to enhance trading efficiency and transparency for gold transactions, attracting more global players. Key figures include the expected increase in gold trading volumes and a potential uplift in Singapore's position in the global gold market. The initiative reflects a broader trend in the region towards diversifying financial services and could impact gold pricing dynamics.
Read More: Singapore (SGD) to Begin Gold Clearing in 2023 for Market Hub
Buenaventura (BVN) Price Target Raised to $45 by Morgan Stanley
On April 9, Morgan Stanley upgraded Compañía de Minas Buenaventura S.A.A. (BVN), raising its price target from $32 to $45 while maintaining an Overweight rating. The upgrade was attributed to improving operational performance and a positive outlook for precious metals. Buenaventura announced a significant dividend distribution of $272.99 million during its annual shareholders' meeting on March 30, indicating confidence in its financial position. The company's diversified portfolio in precious metals and operational improvements position it favorably amid rising commodity prices.
Read More: Buenaventura (BVN) Price Target Raised to $45 by Morgan Stanley