UBS Bullish On Gold, Silver In 2024; Global Mining Supply Market Hits New Highs; South Africa’s President Calls For End To Abuses In Mining, Metals Sectors

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Top Mining Stories For Feb. 5, 2024: 1. UBS projects a bull market for gold and silver in 2024, thanks largely to the strong likelihood of the Federal Reserve cutting interest rates. Of the two metals, it’s gold that enjoys a real moment in the sun here. According to the bank’s strategist Joni Teves, gold is likely to reach $2,200 per ounce by the end of the year. The projection does not come totally out of the blue; rather, it follows on the heels of gold having reached a record $2,100 per ounce at the end of 2023.The UBS analyst attributes the impressive forecast to a weaker dollar resul…

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