US tariffs on copper imports may be coming within weeks, months earlier than Donald Trump’s original deadline for a decision, according to people familiar. He’s previously threatened a duty of 25% on one of the world’s most important metals—and it’s hurting American factories already. The price of copper traded in New York jumped to a record high. Keep on top of the latest with our tariff tracker.
Source – Bloomberg
Australia-based Kaiser Reef has entered into a definitive agreement with Catalyst Metals to acquire the Henty gold mine and associated exploration tenements in north-western Tasmania in a deal valued at A$31.6m.
Under the deal, Kaiser will make an upfront payment of A$15m and issue A$16.6m in shares, offering Catalyst a 19.99% stake in the company.
Following the acquisition, Kaiser’s enterprise value will reach A$67m, encompassing three gold mines, including one under care and maintenance and two gold processing plants.
“Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst’s continued involvement and exposure to the upside at Henty, both as Kaiser’s major shareholder and through their board representation.”
Source – Yahoo! Finance
Analysts led by Lina Thomas moved their gold forecast for the end of 2025 to $3,300 an ounce, from $3,100.
Gold futures rose 1.3% to $3,060.70 an ounce, buoyed by uncertainty over new auto tariffs announced by the White House on Wednesday.
On Tuesday, Bank of America lifted its gold-price forecast to $3,500 from $3,000. As with Goldman, their analysts cited central bank and ETF demand, but also pointed out that China’s insurance industry is getting a regulatory push to buy more.
Source – Market Watch
Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments. The result was a 3.0% gain for gold this past week and a close at the magical $3,000.
Other precious metals rose this past week. Silver was up 4.9%, while platinum gained 4.8% and is back over $1,000. Near precious metals saw palladium up 1.9% and copper gaining 4.0% as it marches towards $5.00.
Source – Silver Seek
“What we have seen is the change in the motive for safe-haven buying – from being driven by the Middle East uncertainty to the threat and realisation of tariffs,” said Philip Newman, managing director at consultancy Metals Focus.
“Strikingly, gold was rallying as inflation eased, and it looked as though all of our understanding of how gold prices behaved was being challenged,” said independent analyst Ross Norman.
Nicky Shiels, head of metals strategy at MKS PAMP SA, said that while prices could break out towards $3,200, resolution of physical gold dislocations attributed to tariffs and potential structural changes including reduced risk appetite, reduced participation and reduced liquidity are increasingly bearish.
Source – Reuters
Bear (in finance) – is an investor who believes that a particular security or the broader market is headed downward and my attempt to profit from a decline in stock prices. Bears are typically pessimistic towards a state of any given market or underlying economy.
Gold
Gold remains stuck near the resistance at $2930 – $2940 as traders continue to take profits off the table near historic highs.
Silver
Silver declined below the $32.50 level as gold/silver ratio climbed above the 91 level.
Platinum
Platinum tests new lows as traders react to the strong sell-off in palladium markets, which are down by 3.4%.
Source – FXEMPIRE
