• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login

    Investing News NetworkYour trusted source for investing success

    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Gold Market
    Gold News
    Gold Stocks
    • Gold Market
    • Gold News
    • Gold Stocks
    1. Home>
    2. ResourcePrecious MetalsGold Investing>
    Loading...
    0

    Top 5 Most-popular Gold News Stories of 2024

    Giann Liguid
    Dec. 30, 2024 01:50PM PST

    We round up our most-popular gold news stories of 2024, from a brazen gold heist to the fallout from the Eagle gold mine's failure.

    Table with gold bullion bars in varying sizes, a scale and a judge's gavel. A person holds one bar in each hand above the table.
    Witoon / Shutterstock

    As the year closes, we're taking a look back at our most popular gold news articles of 2024.

    The gold mining industry in 2024 has been marked by turbulence and transformation, reflecting the sector's resilience amid environmental challenges, regulatory shifts and fluctuating market conditions. The year has underscored the complexities of sustainable mining and its implications for communities and investors alike.

    The value of gold rose significantly in 2024, with the gold price setting a long series of new all-time highs throughout the year.


    As the year closes, we have revisited our most popular gold news stories from 2024, including updates on what has happened since the news broke.

    1. Victoria Gold Placed into Receivership After Heap Leach Pad Failure at Eagle Gold Mine

    Victoria Gold's collapse into receivership following a heap leach pad failure at its Eagle mine in Yukon marked one of the gold sector's most consequential stories of 2024, and our coverage of the August receivership order was our most popular gold news piece of the year.

    The environmental fallout from the June incident has been severe, with cyanide contamination detected in local waterways and reports of fish deaths.

    The Na-Cho Nyäk Dun First Nation, whose traditional territory hosts the mine, criticized Victoria Gold's cleanup efforts, demanding a halt to all mining activities in the region. The Yukon government also took legal steps to assert control over environmental mitigation, citing the company’s noncompliance with directives.

    This culminated in an Ontario court approving receivership in August, with PricewaterhouseCoopers (PwC) becoming the receiver and manager of Victoria Gold's assets. The firm is now overseeing cleanup operations.

    On December 9, Ontario Superior Court Judge Barbara Conway approved a US$55 million increase to the receivership budget, bringing the total to US$105 million to fund environmental mitigation through March.

    Additionally, PwC has been granted expanded authority to sell non-core assets and appoint technical advisors, further solidifying its role in managing the aftermath of this environmental disaster.

    2. Goldman Sachs Bullish on Commodities, Shares 2024 Price Calls for Gold and Copper

    In late March, we reported on Goldman Sachs' (NYSE:GS) outlook on commodities in 2024, in which it cited strong structural and cyclical demand as the main drivers of an anticipated positive market.

    The US investment bank projected raw materials would deliver a 15 percent return by year’s end, with particular optimism for gold and copper.

    Analysts forecast gold prices to reach US$2,300 per ounce and copper to surpass US$10,000 per metric ton by the end of the year, supported by expected interest rate cuts in the US and Europe. Gold and copper, already performing strongly in Q1, went on to break through those targets in April and May respectively.

    Goldman Sachs reiterated its bullish position in September, increasing its price target for gold to US$2,700 per ounce by early 2025. This optimism stemmed from central bank demand and anticipated US Federal Reserve rate cuts.

    Gold peaked at US$2,788 per ounce on October 30, one day after the analyst firm predicted that the precious metal would reach US$3,000 per ounce by the end of 2025.

    However, gold has experienced volatility in the time since, pulling back on factors such as the November 5 US election, and the US Fed's December 18 announcement of slowed rate cuts for 2025.

    The spot gold price fell by over 2 percent to US$2,585 per ounce following the Fed announcement as the market buzzed with concerns about inflation and tighter monetary policy under the new Trump administration.

    3. Metals Focus: Gold Price to Average US$2,250 in 2024, Setting New Record

    In the firm’s annual Gold Focus report, released in June, independent consultancy Metals Focus forecast an average gold price of US$2,250 per ounce in 2024, which would be a new record average price for the precious metal.

    The report highlights key drivers for gold's performance, including looming US debt issues, a contentious election season and uncertainty over China’s economic recovery.

    Central bank demand, led by Turkey, China and India, remained robust, contributing to gold's momentum. Geopolitical risks, particularly in the Middle East, also bolstered investor sentiment.

    As we know now, gold experienced a historic run in 2024. Gold prices hit a 39 new all-time highs in dollar terms during the year, marking the most record highs in 45 years. Its latest occurred on October 30, when the metal closed at US$2,788.54 per ounce.

    Ultimately, the average gold price in 2024 came in well above Metals Focus' bullish forecast. As of December 30, 2024's average closing price for spot gold is US$2,388.09, up by 26.5 percent over 2023's average of US$1,943.

    4. Gold from Canada's Biggest Heist Reportedly Smuggled to India, Dubai

    On July 8, 2024, we updated readers on the latest development on the theft of 400 kilograms of gold stolen from Toronto's Pearson International Airport in April 2023.

    At that time, Canadian police revealed they believed a significant portion of the gold had been smuggled to India and Dubai. Peel Region police identified these destinations as primary markets for illicit gold, where it can be melted down and re-enter the global supply chain.

    The gold, valued at over C$20 million at the time of the theft, was part of a shipment from Zurich, Switzerland, destined for a Canadian refinery.

    The heist has since been dubbed Canada’s largest gold theft and the sixth largest in the world.

    Nine arrests had already been made in connection with the theft, with suspects facing more than 19 charges. The police said that the suspects reportedly used a 5 metric ton truck and rudimentary smelting equipment to transport and process the stolen gold.

    While not much has come out since, Air Canada (TSX:AC,OTCQX:ACDVF) and secure transit company Brink's (NYSE:BCO) are embroiled in a lawsuit over who is at fault and who should cover the cost of the lost gold.

    5. NYSE Resolves Glitch That Showed 99 Percent Drops for Barrick Gold, Other Stocks

    The New York Stock Exchange (NYSE) addressed a technical issue on June 3 that caused misleading price displays for around 50 companies listed on the exchange, including Barrick Gold (TSX:ABX,NYSE:GOLD) and Warren Buffett's Berkshire Hathaway (NYSE:BRK.A).

    The problem stemmed from a malfunction in the exchange's limit up limit down (LULD) bands, which are designed to curb extreme market volatility by preventing trades outside predefined price ranges.

    As a result, some stocks temporarily appeared to experience nearly 100 percent losses during morning trading. NYSE resolved the glitch and the companies were back to trading normally after a brief pause of about 30 minutes.

    While it was resolved quickly, there has been fallout from the event, which saw stock traders placing buy orders at the rock-bottom prices during the trade pause that filled at the stock's usual price or higher when trading resumed.

    For example, Reuters reported that Interactive Brokers (IBKR) is down US$48 million after it covered losses for its clients who placed orders for Berkshire Hathaway's class A shares at US$185 that filled at prices of up to US$741,971, more than US$100,000 higher than its pre-glitch price. The exchange denied Interactive's request to bust the trades that were completed at "anomalously" high prices.

    Don’t forget to follow us @INN_Resource for real-time updates!

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    From Your Site Articles
    • Gold Price 2024 Year-End Review ›
    • Top Stories This Week: Gold Reacts to Fed's Final 2024 Cut, Paladin/Fission Deal Gets Okay ›
    • 3 Things Warren Buffett Has Said About Gold (Updated 2024) ›
    • Doug Casey and Rick Rule Talk Gold, Cryptos and Top Stocks ›
    • Gold Price Forecast: Top Trends That Will Affect Gold in 2025 ›
    Related Articles Around the Web
    • Gold - Price - Chart - Historical Data - News ›
    TSX:ABX
    https://x.com/giannliguid
    https://www.linkedin.com/in/giannliguid/
    The Conversation (0)
    Go Deeper
    AI Powered
    Three gold bars on price chart with magnifying glass.

    What Was the Highest Price for Gold?

    Gold bars on financial chart showing upward trend.

    Gold Price Update: Q2 2025 in Review

    Giann Liguid

    Giann Liguid

    Writer

    Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.

    When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.

    Latest News

    Pinnacle Increases Non-Brokered Private Placement

    Metals & Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

    Quarterly Activities/Appendix 5B Cash Flow Report

    Music Well Heritage Protection Agreement Signed

    Aurum hits 1.43m at 234.35 g/t gold from 107m at BMT3

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Gold Investing Stocks

    LaFleur Minerals

     
    LFLR:CNX

    Pacgold

     
    PGO:AU

    Surface Metals

     
    SUR:CC

    Maritime Resources

     
    MAE:CC

    Triumph Gold

     
    TIG:CA

    Quimbaya Gold

     
    QIM:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×
    Giann Liguid

    Giann Liguid

    Writer

    Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.

    When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.

    Full Bio

    Follow

    Learn about our editorial policies.