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Peter Navarro Explains Implications Of Copper Dumping In US Markets

“Copper is like the second most important thing the Defense Department uses in order to make its weapons systems. And we’re in a situation now where worldwide there’s a glut of copper,” Navarro told Schmitt. “There’s a dumping of copper into our markets. And we’ve lost our ability to both smelt copper, which is taking the ore and getting the raw copper and refine it into the products we need. And it’s a serious thing.”

Source – Independent Journal Review

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    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

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    Silver jewelry demand increasing

    Industrial silver demand set a record last year, but despite the increase in offtake, overall silver offtake declined by 3 percent to 1.16 billion ounces, primarily due to weak investment demand.

    Silver jewelry demand grew by 3 percent to 208.7 million ounces in 2024.

    The Silver Institute reported that improving exports to key Western countries also lifted silver jewelry demand.

    Growth in demand for silver jewelry will likely contribute to increasing overall demand, putting further pressure on already limited silver supplies.

    Source – Money Metals

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    Barrick Mining maybe under provisional administration

    A Malian court has adjourned to Thursday a hearing on whether to put Barrick Mining’s Loulo-Gounkoto gold complex under provisional administration, the court’s registry office and one of the lawyers involved told Reuters on Monday.

    Granting the request would represent a major escalation of a dispute between the West African country and the Canadian miner after operations at the complex were suspended in January in a dispute over taxes and ownership.

    Barrick has said it can only resume operations when the Malian government removes restrictions on gold exports.

    The government has renegotiated agreements with other multinational miners under the new mining law. Four Barrick employees have been detained since November 2024 and an arrest warrant was issued for Chief Executive Mark Bristow in December 2024.

    Source – Reuters

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    Ready to strike planchets could keep the penny circulating

    The inventory of unstruck ready-to-strike cent planchets combined at the Denver and Philadelphia Mints is considered by the Federal Reserve and the U.S. Mint enough to handle production needs for the near future as the mintages wind down, with no more planchets ordered from the lone outside vendor.

    The unstruck planchets are also sufficient for striking Uncirculated Lincolns cents at the Philadelphia and Denver Mints for inclusion in 2025 Uncirculated Mint sets and for Proof sets executed at the San Francisco Mint.

    Source – Coin World