Citi anticipates an eventual implementation of a 25% copper-specific tariff by the fourth quarter of 2025, following U.S. President Donald Trump’s executive order initiating an investigation into U.S. copper imports, the bank said in a note on Wednesday.
Source – Reuters
The ultra-wealthy are increasingly moving their gold offshore as economic and geopolitical uncertainty roils markets — and Singapore is emerging as a favored destination.
Not far from the city-state’s airport sits a six-story facility covered in onyx and fortified by tight security. Tucked behind its steel doors are gold and silver bars amounting to about $1.5 billion.
“A lot of very high net worth clients are looking at tariffs, looking at the world changing, looking at the potential of geopolitical instabilities,” Gregersen told CNBC.
“The idea of putting physical metal in a safe jurisdiction like Singapore with parties they can trust is becoming a big trend nowadays,” he said, adding that 90% of the new orders are coming from outside of Singapore.
Source – CNBC
Gold of 99.5 per cent purity increased Rs 50 to reclaim its all-time high level of Rs 96,000 per 10 grams against the previous close of Rs 95,950 per 10 grams.
Silver prices climbed by Rs 2,500 to Rs 97,500 per kg on the back of fresh industrial demand.
“Gold prices remain steady near all-time highs, buoyed by a weakening dollar and persistent uncertainty surrounding US trade policy,” Chintan Mehta, Chief Executive Officer at Abans Financial Services, said.
Spot silver in the Asian market hours fell marginally at USD 32.32 per ounce
Source – Press Trust of India
Source – MSN
Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) based in Halifax, Nova Scotia, focused on Developing Production at the El Tigre Silver Mining District in Sonora Mexico, today announced that Glenn Jessome President & CEO, will present live at the Metals and Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on February 13th, 2025
DATE: February 13th
TIME: 1:00pm EST
www.virtualinvestorconferences.com
Source – Markets Insider
If we can break above the $31 level on a daily close, then I believe that opens up the opportunity for the market to go looking at the $32.50 level.
Source – FXEMPIRE / Written by Christopher Lewis
Freeport McMoRan (NYSE:FCX) trades little changed Thursday as Jefferies upgrades shares to Buy from Hold with a $48 price target, raised from $40, just one month after downgrading due to risks in Indonesia, a cautious view on copper, and the company’s near-term lack of free cash flow.
If tariffs are implemented, Comex copper price premiums to the LME, which have been high already because of potential tariffs, likely will rise further, Jefferies analyst Christopher LaFemina says, noting Freeport (FCX) sells 1.35B lbs/year of copper at Comex prices and the current Comex premium to LME is ~$0.30/lb, and tariff-impacted imports would effectively set the Comex price since the U.S. cannot be self-sufficient in copper.
Source – Seeking Alpha
Jefferies – Jefferies Financial Group Inc. is an American multinational independent investment bank and financial services company headquartered in New York City.