ANZ raised its zero to 3-month gold price forecast to $3,100 per ounce and 6-month forecast to $3,200 per ounce, according to a research note on Tuesday.
For gold “we maintain our bullish view, amid strong tailwinds from escalating geopolitical and trade tensions, easing monetary policy, and strong central bank buying,” the bank said.
Source – Reuters
Gold fell to a near three-week low on Monday as a U.S.-European Union trade accord lifted the dollar and risk sentiment, while investors awaited fresh cues on rate policy from this week’s Federal Reserve meeting.
Spot gold fell 0.6% to $3,316.03 per ounce as of 11:36 a.m. ET (1536 GMT), after touching its lowest level since July 9, earlier in the session. U.S. gold futures were down 0.7% at $3,313.2 per ounce.
“I think the more trade announcements we get, the more the dollar increases. These tariff deals are dollar friendly, lowering the allure of gold and driving the sell-off amid a risk-on sentiment,” said Marex analyst Edward Meir.
Spot silver was down 0.1% at $38.12 per ounce and platinum fell 0.6% to $1,393.25, while palladium gained 2.1% to $1,245.52.
Source – Reuters
Bank of America is eyeballing $4,000 gold and $40 silver by the end of the year or early 2026.
Source – Money Metals
Copper’s rise is being driven “solely by supply concerns surrounding the potential for universal tariffs to be placed on all imports of copper into the U.S.,” said Natalie Scott-Gray, a senior metals demand analyst at StoneX. The U.S. is “heavily reliant on foreign copper, with imports accounting for [around] 45% of demand.”
Copper prices have climbed more than 23% in 2025 through Monday, according to Dow Jones Market Data.
Source – Market Watch
Arizona Sonoran Copper Company has successfully closed a public offering, raising C$51.75m ($37.6m) through the issuance of 25,875,000 common shares.
This includes 3.3 million shares from the full exercise of the over-allotment option by underwriters. Priced at C$2 per share, the offering is a strategic move to secure financial stability for the company’s upcoming projects.
Source – Mining Technology
Experts have confirmed that dozens of gold coins scattered across the ocean floor off the coast of Colombia belonged to the San José, an ill-fated Spanish treasure galleon that sank over 300 years ago during a battle with British warships. The findings were published on June 10 in the journal Antiquity.
The 64-gun, three-masted Spanish flagship alone carried as much as 200 tons of treasure with a modern value estimated as high as $17 billion by today’s standards.
The key pieces of evidence were dozens of rough gold coins sitting on the ocean floor. The treasure had an average diameter of 1.3 inches and each weighed around one ounce.
“Hand-struck, irregularly shaped coins—known as cobs in English and macuquinas in Spanish—served as the primary currency in the Americas for more than two centuries,” Daniela Vargas Ariza, a maritime archeologist and the study’s lead author said in a statement.
Source – Popular Science
“Gold is still benefiting from investors looking for safe-haven assets amid concerns of a tariffs and trade war,” UBS analyst Giovanni Staunovo said.
“We continue to see upside for gold, with the yellow metal expected to rise to $3,000, benefiting also from ongoing central bank demand.”
Spot silver rose 0.3% to $32.24 an ounce after hitting its highest level since October 31 on Friday.
Platinum gained 0.1% to $980.43, and palladium climbed 1.9% to $978.25.
Source – Reuters
