Copper giant Peru foresees another production plateau in 2025

ByVictoria

Peruvian copper production is expected to remain flat in 2025 for the third straight year, according to the country’s top mining association and industry analysts, as declining ore grades and a lack of new projects cap output.

Peru’s top mining association SNMPE expects the country’s 2025 copper output to hit around 2.8 million metric tons, matching 2023 and what is expected for 2024, as miners contend with poorer-quality resources and development bottlenecks for new projects.

“By 2025, Peruvian copper production is expected to be similar to this year’s expected 2.8 million tons,” said Victor Gobitz, SNMPE’s head, in an interview last week.

Source – Reuters

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Arizona Sonoran Copper makes big announcement valued at C$19.9m ($13.83m) with Hudbay Minerals

ByVictoria
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Under this agreement, Hudbay will subscribe for 11,852,064 common shares of Arizona Sonoran at C$1.68 per share.

Arizona Sonoran president and CEO George Ogilvie said: “We are pleased and appreciative to welcome this further endorsement of our project and the go-forward plan by the team at Hudbay. It is the company’s objective to develop Cactus to be a significant producer of copper cathodes for direct use by industry in the state of Arizona and the larger US supply chain.

“We welcome Hudbay, a mid-tier base metal producer with decades of base metal successes in the Americas and a strong existing footprint in Arizona, as a larger and increasingly engaged shareholder, able to lend its experience and expertise as we advance and develop Cactus.”

Source – Global Data

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Gold prices fall as yield rises

ByVictoria
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Spot gold fell 0.2% to $2,634.52 per ounce by 2:27 a.m. ET (1927 GMT). U.S. gold futures settled 0.3% lower at $2,647.40.

“Bond yields are back up again, placing pressure on gold,” said Nitesh Shah, commodity strategist at WisdomTree.

“There’s speculation that Trump is going to pull back on tariffs … If (the prices of) commodities go up, inflation’s going to remain higher for longer,” Phillip Streible, chief market strategist at Blue Line Futures, said.

Source – Reuters

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China has more gold than they admit

ByVictoria
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“Chinese authorities see a greater role for gold in the future international monetary system, or they wouldn’t continue buying such extraordinary amounts of gold. Via London alone, the PBoC has stockpiled 1,000 tonnes of gold since Russia’s foreign exchange assets were ‘frozen’ by the West in early 2022.” Nieuwenhuijs wrote

Source – Money Metals

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Silver Price Forecast – Silver Continues to Look Sideways Overall

ByVictoria
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The silver market was rather quiet during the early hours on Wednesday as we continue to see a lot of choppiness.

I think this is a scenario where you have to be somewhat hesitant to buy silver, and I think really what we are looking at is a situation where we are just simply consolidating overall. I believe that the $28.75 level is significant support, just as the $31 level is significant resistance.

Source – FXEMPIRE

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Gold and Silver are surging

ByVictoria
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The price of gold of 99.5 per cent purity climbed Rs 500 to Rs 80,900 per 10 grams. It settled at Rs 80,400 per 10 grams in the previous trading session.

Silver also surged Rs 2,300 to Rs 94,000 per kg from the previous close of Rs 91,700 per kg on Wednesday.

“Gold surged higher trading above Rs 79,000 in MCX, supported by a rupee depreciation,” Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said.

Source – Press Trust of India

More Info!

Rs (abbreviated) is a financial term that you may or may not be familiar with. I have 2 descriptions for this abbreviated term. Rs stands for Relative Strength.

  • A strategy used in momentum investing and in identifying value stocks. It focuses on investing in stocks or other investments that have performed well relative to the market as a whole or to a relevant benchmark.
  • (In stock) a technical analysis indicator that measures the performance of a stock relative to a market index or another stock.
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Trumps last Presidency gold surges 53% – What’s next?

ByVictoria
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When Donald Trump took office in January 2017, few could predict the meteoric rise in gold prices that would follow. By the time he left office in January 2021, gold had surged by over 53%, reaching a price of $1,841 per troy ounce—up from $1,208 at the start of his term, according to data from the World Gold Council.

Source – CNBC TV18