“Codelco remains a good option to grab some extra spread over sovereign bonds.”
Copper futures are up about 15% this year in New York, although part of that is due to an up-tick in buying ahead of possible tariffs.
“Good governance and high copper prices should be good for bonds. Codelco is interesting.”
Source – Bloomberg
Goldman Sachs is tipping a continued rise in Newmont’s share price with a target for its New York listed shares set at $47.20, up 17% on last sales at $40.23 while the company’s Australian listed shares are forecast to rise from A$64.80 to A$76.20.
Strong central bank demand is expected to continue lifting the gold price towards $3000 an ounce from its current $2670/oz, according to Goldman Sachs
“We expect our Australian gold coverage is set for a growing cash harvest over the next 12-months as price increases outweigh cost escalations, supporting further balance sheet strength, growing capital returns and prospective merger and acquisition activity,” Goldman Sachs said.
Source – Forbes
Harvesting (in finance), also known as an exit or liquidity event, is the act of cashing out of an ownership position in a company.
U.S. Commerce Secretary Howard Lutnick said Wednesday that the Trump Gold Card, which makes it possible for any foreigner to buy a visa for $5 million, will be available online within weeks.
“The details of that will come soon after, but people can start to register. And all that will come over a matter of the next weeks — not month, weeks,” Lutnick said.
Source – FOX News
I have only recently seen the amount of news on this topic and was intrigued. Please let me know if this is a topic that you would like to see more of as I will just post more on this and write a piece on it. -V
Copper’s rise is likely led by Trump’s tariffs, weakening its appeal as leading indicator for risk assets, including cryptocurrencies.
Source – Coin Desk
Gold prices edged higher on Wednesday as a weaker dollar and simmering trade tension between the United States and China lifted demand for the safe-haven metal.
Spot gold was up 0.1% at $3,355.46 an ounce, as of 0836 GMT. U.S. gold futures edged 0.1% higher to $3,379.80.
“I think we are seeing the same concerns around trade talks, not much progress and that is adding to uncertainty over where tariffs will land, and that’s driving gold prices right now,” said Nitesh Shah, commodities strategist at WisdomTree.
Donald Trump said on Wednesday that Chinese President Xi Jinping is tough and “extremely hard to make a deal with,” days after the U.S. President accused China of violating an agreement to roll back tariffs and trade restrictions.
Spot silver fell 0.2% to $34.44 an ounce, platinum rose 0.9% to $1,083.22 and palladium lost 0.4% to $1,006.49.
Source – Reuters
“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.
Copper prices have been on a stellar run, boosted by President Donald Trump’s proposed tariffs. But Wall Street sees headwinds for the metal, with two miners catching downgrades.
Freeport stock lost 3.2%, closing at $44.12, while the S&P 500 and Dow Jones Industrial Average dropped 0.4% and 1%, respectively.
Southern Copper shares fell 2.4% to $97.54.
As for demand, Citi analyst Tom Mulqueen noted in a Tuesday report that tariffs and policy changes will be a headwind in the second half of 2025.
“We also see sustained sluggish manufacturing activity and solar frontloading weighing on copper end-use consumption in the months ahead,” wrote Mulqueen.
Source – Barron’s