Silver Price Today
Source – Money Metals
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US Treasury yields down
Investors are expecting a packed week of economic data starting with the Chicago Fed National Activity Index for January out on Monday at 8:30 a.m. ET. This will be followed by the Dallas Fed Manufacturing Index at 10:30 a.m.
The most anticipated data for the week will be the personal consumption expenditure index, which will be delivered on Friday at 8:30 a.m. ET. The Federal Reserve’s preferred inflation gauge heavily influences the Fed’s rate-cutting decisions.
Source – CNBC
Gold attracts record 4-week inflows
Gold saw record investor inflows over the past four weeks, with investors scrambling for safe havens as the Trump administration’s tariff policies threatened to reorder global trade alliances.
Investors poured another $1 billion into gold in the past week, pushing four-week inflows to a record $9.9 billion, according to BofA Global.
Source – Market Watch
BHP Group may sell Australian operations
Mining giant BHP Group flagged rising costs and delays at a giant potash project in Canada and said it may sell its Australian nickel operations, as it reported record annual iron ore and copper production.
The company said Friday it faces rising costs at the Jansen potash project in Canada’s Saskatchewan province, its only major development currently under construction.
The company said it is also reviewing Jansen’s second stage, which is roughly 11% complete. BHP may delay first production from that expansion by two years, to fiscal 2031, because it reckons there might be more potash supply coming into the market over the medium term than previously envisaged.
BHP said it expects to produce between 1.8 million and 2.0 million tons of copper in the year ahead.
Source – The Wall Street Journal
Gold and Silver “Technical Scoop”
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
Copper may have peaked for Cochilco
Chile’s state copper commission Cochilco on Monday said that prices for the red metal have likely already peaked this year amid an escalating trade war, as U.S. President Donald Trump threatened to further increase tariffs on China.
“Base metals, including copper, are likely to have peaked in 2025 as they will be negatively impacted by the trade dynamics between the U.S. and China,” Cochilco said in a statement.
Cochilco said that if current economic and geopolitical conditions continue, its forecast would weaken.
Source – Reuters
Asia Gold: Elevated prices deter buyers in key hubs
In India, domestic prices hit an all-time high of 80,034 ($927.69) rupees per 10 grams on Friday, tracking the international spot gold prices and hovering near a record high of $2,790.15 hit on Oct. 31.
“Retail demand was negligible this week due to the price rise. Most jewellery stores were witnessing thin footfall,” a Chennai-based bullion dealer said.
Chinese gold prices are higher again and close to historical highs, which has sucked out demand but some people are still buying due to the holiday season starting next week, said a mainland China-based precious metal trader.
Source – Reuters