2 reasons. The most important reason is that we think that central bank demand for gold, will structure your main higher.
The second reason is gold is a great hedge against tariff escalation concerns about debt sustainability. Daan Struyven, Goldman Sachs co-head of global commodities research
Source – CNBC / Video
Copper is generally a good indicator because it’s used all over the economy — in factories, houses, electronics and streetlights, per Chris Berry, founder and president of House Mountain Partners.
“The next time you’re on an airplane at night, and you’re coming in for a landing, and you see any lights or anything like that, every single one of those lights is working because of the electrical conductivity of copper,” he said.
So, if the economy is growing, and we’re building more, we’ll need more copper.
Source – Market Place
Gold prices climbed on Thursday due to escalating concerns about U.S. President Donald Trump’s impending tariff plans, which could further strain global trade relations.
Spot gold added 0.3% to $2,913.40 per ounce as of 11:58 a.m. ET (1658 GMT), moving back towards its record peak of $2,942.70 hit on Tuesday. U.S. gold futures firmed 0.4% to $2,941.40.
“The major factor is political uncertainty and the economic consequences … the PPI was pretty much neutral and it didn’t really have much of an effect on gold, investors around the world are worried about what the Trump policies will do to the overall economy,” said Jeffrey Christian, managing partner of CPM Group.
Spot silver fell 0.3% to $32.13 per ounce. Platinum was down 0.2% to $990.15 and palladium was up 1.6% to $989.50.
Source – Reuters
Kiyosaki said, “Trump tariffs begin: gold, silver, Bitcoin may crash.” He indicated his plan to purchase more Bitcoin if prices plummet, seeing it as an opportunity to grow his wealth. However, he also pointed out the U.S. national debt as a major problem that Bitcoin might not be able to address.
Source – Benzinga
Fluor president of mining & metals Harish Jammula said: “We are excited to support BHP on their growth plans to increase production of refined copper cathode in south Australia.
“Accelerated expansion of the downstream processing sector is increasingly important to secure local supply of mined materials, become independent of overseas supply and drive sustainable production technologies.”
Source – Global Data
Glencore owns the Mutanda copper cobalt mine and has 75% stake in Kamoto Copper Company leaving the mines value at $6.8 billion dollars.
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Gold inched higher on Thursday in holiday-thinned trade, as investors focused on the U.S. Federal Reserve’s interest rate strategy and anticipated tariff policies under President-elect Donald Trump, both of which could influence the metal’s direction in the coming year.
Source – Daksh Grover / Reuters