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Gold and Silver fell again

ByVictoria

Gold fell 2% on Thursday, hitting a near one-month low, after a U.S.-China trade agreement boosted risk appetite and diminished bullion’s appeal as a safe-haven asset.

Spot gold fell 2% to $3,261.28 per ounce by 0934 a.m. EDT (1334 GMT), its lowest level since May 29. Bullion was down for a second straight week, slipping 3.2% so far

U.S. gold futures dropped 2.2% to $3,272.90.

Spot silver slipped 2% to $35.88 and was set to fall for the week.

Palladium fell 0.8% to $1,122.77, but was headed for weekly gains. Platinum eased 6.5% to $1,325.48, and headed for a fourth consecutive weekly rise.

Source – Reuters

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    “To maintain and improve profitability, we need to raise the ratio of recycled raw materials and accelerate the shift to feedstock less vulnerable to TC/RC fluctuations,” the company said in a statement.

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    Silver Price Forecast – Silver Continues to Look Sideways Overall

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    China copper imports fall

    ByVictoria
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    China’s unwrought copper imports declined by 7.2% year-on-year to 837,000 metric tons in the first two months of 2025, customs data on Friday showed, due to increased domestic smelting capacity that reduced the need for additional imports.

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    Gold higher today rising to .3%

    ByVictoria
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    Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite.

    Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session.

    “There is less of a ‘doom and gloom’ outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets,” KCM Trade Chief Market Analyst Tim Waterer said.

    “The dollar remains pressured which is limiting the extent of the slide for gold. However, the $3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the $3,200 level,” Waterer said.

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    Copper from Codelco jumped 17% in November

    ByVictoria
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    Copper production from Chile’s state-run miner Codelco, the world’s largest producer of the metal, jumped nearly 17% in November, helping to boost overall output of the metal in the mineral-rich nation by some 10%, data from copper commission Cochilco showed on Friday.

    Taking Friday’s results into account, Chile’s total production in November was up 9.8% to 486,200 tons, Cochilco said.

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