“People are well advised to know and expect that [silver] is going to be volatile,” Krauth said. “It’s going to be more volatile than gold, and if you talk about silver stocks, that’s another—you know, it’s exponentially more volatile.”
“Maybe it’s not a bad idea to wait a little bit to let things calm down.”
Source – Self Employed
Peter Krauth author of “The Great Silver Bull” and precious metals analyst.
Bullion surged as much as 1.4% to $2,798.59 an ounce, surpassing its previous all-time high set in October. A weaker dollar makes bullion more appealing for investors holding other currencies as it’s priced in the US currency.
“When you get rising inflation and you get declining growth, you get stagflation, then gold is one of the best-performing commodities in that environment.”
Source – Bloomberg
The most recent trading sessions have showcased gold’s resilience and volatility. Following a sharp decline of $45 per troy ounce in spot gold and a $63 drop in April futures on Friday, February 14, the market demonstrated strong recovery momentum. After the Presidents’ Day holiday closure, Tuesday’s trading saw spot gold gain $36.97, and the April futures contract gaining $60.70, nearly reaching the record levels established on February 12.
Source – KITCO News / Opinion
“We are witnessing a resilient economy … against a backdrop of geopolitical concerns, and an expectation of some sort of chaos down the road,” said Oliver Pursche, senior vice president at Wealthspire Advisors in New York.
Gold reversed its multi-session rally, which was driven by a risk-off flight to safety that drove the precious metal to a record high.
Spot gold fell 0.3% to $2,856.40 an ounce. U.S. gold futures fell 0.39% to $2,860.50 an ounce.
Source – Reuters
The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.
Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.
Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.
The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.
Source – Reuters
“Over the past quarter, we have experienced significant challenges in our Zambian operations brought on by a combination of extraordinary circumstances outside of our direct control. We have addressed the power supply challenge by entering into an additional power supply agreement that sources power across a broader generation network to avoid localised exposure to network instabilities and a single power generation plant,” said Leon Coetzer the CEO of Jubilee Metals
Copper run-of-mine (ROM) and in process stock for Jubilee also increased sharply, reaching 1.21 million tons containing an estimated 8 466 tons of copper units now earmarked for future processing.
Source – Business Report
Source – APMEX