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50% tariff on copper, Brazil

ByVictoria

President Donald Trump on Wednesday said the White House was “very busy” crafting its trade policy as the clock ticks down on his self-imposed August 1 deadline. At that point, America could fundamentally reshape the way it does business around the world.

Trump signed executive actions on Wednesday imposing a 50% tariff on Brazil, a 50% tariff on certain copper products and suspending a tax perk for all countries that allowed cheap packages to fly into the US duty-free.

Trump said the agreement, if completed, would include developing Pakistan’s oil reserves with a yet-to-be-named oil company.

Source – CNN

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    Gold Price levels hit record highs

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    The precious metal remains supported as concerns about an intensifying global trade war continue to place downward pressure on the dollar and Treasurys amid diminishing faith in the U.S. as a reliable trading partner. 

    Gold’s price, which soared 6% last week and trades 23% higher since the start of the year, seesawed Sunday evening as investors digested news that recently announced U.S. tariff exemptions on smartphones, computers, and semiconductors could be temporary, with the president later pledging a national security trade investigation into the chip sector.

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    Robert Kiyosaki predicts colossal market crash

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    “GIANT MARKET CRASH here. Q: How can I be so bullish on gold, silver, and Bitcoin? A: Because the idiots running the Fed, Treasury, Banks, and Wall Street only know how to print money, which makes things worse. FYI: When fake money is printed the rich, who own real assets get richer…. while the poor and middle class, who save fake money, get poorer due to inflation and taxes. Let inflation make you richer, not poorer. Save gold, silver, and Bitcoin. Take care. Crash is here,” Kiyosaki wrote

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    Gold, Silver, Platinum Forecasts

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    Gold

    Gold tests resistance at $2930 – $2940 as traders bet that demand from central banks will stay strong in the upcoming months.

    Silver

    Silver gains ground as traders react to the strong performance of gold markets. RSI is in the moderate territory, and there is enough room to gain momentum in the near term.

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    Platinum is stuck near the $1000 level as traders wait for additional catalysts.

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    Gold down 1%, Silver up

    ByVictoria
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    Gold fell more than 1% on Tuesday as signals of easing U.S.-China trade tensions reduced some safe-haven demand, while investors braced for key economic data this week to gauge the Federal Reserve’s policy outlook.

    Spot gold was down 1.2% at $3,300.57 an ounce as of 9:50 a.m. ET (1350 GMT). U.S. gold futures fell 1.1% to $3,310.20.

    “There is some optimism that there will be some de-escalation of the trade war between the U.S. and China,” said David Meger, director of metals trading at High Ridge Futures.

    “We’ve seen the equity markets rebound over the course of the last several sessions. So there’s been a bit of a lesser need for safe havens like gold.”

    Spot silver rose 0.1% to $33.2 an ounce, platinum eased 0.3% to $983.26 and palladium lost 0.8% to $941.51

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    Chile in a “wait and see” mode

    ByVictoria
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    Chile’s place at the low-end of U.S. tariffs announced last week could be favorable for the world’s leading copper-producing country if U.S. President Donald Trump decides to slap tariffs on copper, Chile Mining Minister Aurora Williams said on Wednesday.

    Chile is in “wait-and-see” mode until the investigation concludes, Williams told Reuters, but sees potential for a positive outcome even if the U.S. imposes tariffs on copper.

    “If we assume that Chile is within the lowest tariff range, the application of a potential 10% tariff is lower than the tariffs we have seen for other copper-producing countries and therefore also generates a better price position,” Williams said

    Source – Reuters

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    Gold prices rise after sweeping tariffs

    ByVictoria
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    Gold rose after President Donald Trump delivered on threats to hit Canada and Mexico with sweeping tariffs and doubled a charge on China, spurring swift reprisals.

    Bullion climbed above $2,915 an ounce as Beijing announced 15% duties on some American farm goods, including cotton. Geopolitics was also in the spotlight after the US paused all military aid to Ukraine.

    Spot gold rose 0.8% to $2,914.45 an ounce at 10:45 a.m. in London. The Bloomberg Dollar Spot Index fell 0.2%. Silver and palladium gained, while platinum was little changed.

    Source – Bloomberg