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London Metals Exchange, Mixed signals in precious metals

ByVictoria

Zinc, the biggest loser in the LME complex, is currently trading 4.8% lower than at the start of the year.

Meanwhile, tin prices have increased by 13.5% in the first few weeks of the year, making it the biggest winner.

Copper refining grew as expected at 4.2%, but mine production surprised at 2.3%, 0.5% higher than the ICSG September forecast.

The supply of refined copper is under threat due to mine production, which has put downward pressure on processing fees in copper smelters, according to Commerzbank.

The lead market experienced a minor oversupply due to a substantial increase in mine production.

This increase, just under 2%, was fueled by significantly higher supply in the US, Australia, Peru, and Mexico.

Source – Invezz

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Gold rises as concerns grow over tariffs

ByVictoria
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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

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Platinum, palladium likely to lag gold and silver again – UBS

ByVictoria
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Prospects for platinum group metals in 2025 look similar to previous years, UBS says, adding that it expects platinum to outperform palladium , and both to lag gold and silver once again.

The investment bank, meanwhile, has a forecast of a 25% return for silver, with prices trading in a $36-38/oz range.

“Hence, we hold a more nuanced outlook for the overall precious metal sector, with a more attractive risk-reward in gold/silver versus platinum/palladium. Within the platinum group of metals, platinum remains favored over palladium, considering the higher volatility and lower liquidity of the latter,” analysts added.

Source – Seeking Alpha

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Robert Kiyosaki predicts colossal market crash

ByVictoria
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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

Source – Benzinga

Robert Kiyosaki is an American businessman and author of ‘Rich Dad, Poor Dad’ and other personal finance books.

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Bank of England moving gold to US to avoid tariffs

ByVictoria
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Gold inventories in New York are on a path to levels last seen at the outset of the COVID-19 pandemic, with stockpiles in the city hitting $82 billion.

“People can’t get their hands on gold because so much has been shipped to New York, and the rest is stuck in the queue,” an unnamed industry executive told the FT. “Liquidity in the London market has been diminished.”

“London remains the major gold market in the world. If you are involved in that market and want to trade or use your gold, you really need to have it in London,” BoE governor Andrew Bailey told the U.K.’s Treasury Committee. 

Source – Fortune

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Gold dips and U.S. Treasury yields rise

ByVictoria
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Spot gold fell 0.1% to $2,916.75 an ounce as of 11:55 a.m. ET (1655 GMT), after rising in the last three sessions. U.S. gold futures were flat at $2,925.

“We are just seeing some mild profit-taking pressure from recent gains, the underlying fundamentals are still bullish… Another thing that’s putting some mild pressure on the gold market is a rise in bond yields,” said Jim Wyckoff, senior market analyst at Kitco Metals.

The benchmark 10-year U.S. Treasury yield hit a more than one-week high, reducing the appeal of non-yielding gold.

Spot silver dipped 0.2% to $32.70 an ounce, palladium was steady at $942.25 and platinum was down 0.3% at $966.63.

Source – Reuters