Author: Victoria

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    50% tariff on copper, Brazil

    ByVictoria
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    President Donald Trump on Wednesday said the White House was “very busy” crafting its trade policy as the clock ticks down on his self-imposed August 1 deadline. At that point, America could fundamentally reshape the way it does business around the world.

    Trump signed executive actions on Wednesday imposing a 50% tariff on Brazil, a 50% tariff on certain copper products and suspending a tax perk for all countries that allowed cheap packages to fly into the US duty-free.

    Trump said the agreement, if completed, would include developing Pakistan’s oil reserves with a yet-to-be-named oil company.

    Source – CNN

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    Copper tariffs begin on August 1st, Chile “singled out”

    ByVictoria
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    The U.S. is expected to implement a 50% tariff on copper imports at the end of the week, but what happens next is anyone’s guess as talk of an exemption for Chile, the biggest U.S. supplier of the metal, and a potential U.S. and European “metal alliance” heats up.

    “There remains uncertainty over country-based exemptions and a general sense of tariff fatigue,” wrote Natalie Scott-Gray, senior metals demand analyst at StoneX, in a note Tuesday. The European Union, meanwhile, looks to get a break when it comes to U.S. tariffs on steel, aluminum and copper.

    President Donald Trump’s announcement on July 8 of the coming tariff had led to a 13% spike in copper prices that day, to settle at $5.6855 a pound, a record-high finish at that time, based on data going back to 1968, according to Dow Jones Market Data.

    Scott-Gray said that when it comes to a potential country-based tariff exemption, Chile is “singled out,” not just because of Marcel’s comments and ongoing negotiations this week, but because the U.S. is reliant on Chile’s imports and the fact that the U.S. holds a trade surplus with Chile, she said.

    Source – Market Watch

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    African banks are getting into gold

    ByVictoria
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    Sub-Saharan African central banks that have added gold to their reserves in recent years could face price and liquidity crises if the value of the precious metal slides, BMI, a unit of Fitch Group, said on Wednesday.

    Ghana, Tanzania and Nigeria have been buying gold domestically to beef up their reserves, BMI said, a move accelerated by this year’s broader market volatility stoked by U.S. trade tariffs and other geopolitical risks.

    Policymakers in Kenya and Uganda are exploring a move into gold, Rwanda and Namibia have taken active steps towards adding the metal into their reserves.

    Governments could also struggle to convert their gold holdings into liquid assets like hard currencies, Gard said, pointing to India and Argentina when they faced acute balance of payments challenges in the 1990s and 2000s, respectively.

    Source – Reuters

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    Glencore’s Steelmaking Company production fell

    ByVictoria
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    Glencore’s steelmaking coal production in the first half soared following the integration of Elk Valley Resources, but copper and gold output fell.

    Elk’s contribution pushed first-half production expressed in copper equivalents up 5%. This is despite copper production falling 26% to 343,900 tons and gold output dropping 18% to 301,000 ounces.

    The FTSE 100-listed company said it was confident that it can deliver its full-year production guidance but tightened the ranges of some of its commodities to reflect its performance to date.

    Source – The Wall Street Journal

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    Spot gold and futures down, Silver down

    ByVictoria
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    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

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    Copper tariff in effect August 1

    ByVictoria
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    U.S. President Donald Trump sprang a double surprise on the copper market when he announced import tariffs of 50% effective next month.

    The August 1 start date signals the end of the race to ship physical metal to the United States to capture the tariff arbitrage.

    A lucky few with cargoes already afloat may yet cross the finishing line in time, but the physical tariff trade is rapidly unwinding.

    The LME benchmark spread is now in a comfortable contango of $66 per ton, compared with a backwardation of more than $300 per ton at the end of June.

    Source – Reuters

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    Silver price around $39, could go up

    ByVictoria
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    The Silver price (XAG/USD) attracts some sellers to around $39.00 during the early European session on Friday. Optimism surrounding the US trade deal allayed trade war concerns and dampened demand for safe-haven assets.

    The Wall Street Journal (WSJ) reported on Friday that US President Donald Trump is now pursuing dealmaking with China. Trump might shift from a strategy of pressure to negotiation, with the goal of securing an economic agreement that will increase US access to Chinese markets, particularly in business and technology. 

    Source – FX Street

  • Working on Gold IRA article

    ByVictoria
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    Hey there fellow investors!

    I am currently working on a new Gold IRA article for 2025. I hope that you will stay tuned in for that article and hopefully I don’t miss anything that you may have questions on. I am very excited to write another one but there will be much more to come.

    Is there a topic you’d like for me to expand on? Let me know! I would love to do more research and learn more too!

    :blobaww:

    – Victoria

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    Gold priced at Rs 9,395

    ByVictoria
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    Gold prices in Lucknow continue to reflect the national upward trend, with 22-karat gold priced at Rs 9,395 per gram and 24-karat (999) gold at Rs 10,248 per gram as of Wednesday. These rates are slightly higher than those in several other major cities, including Chennai, Mumbai, Bengaluru, Hyderabad, and Kolkata, where 22K gold is priced at Rs 9,380 and 24K gold at Rs 10,233 per gram.

    Source – ABP-Live

    Rs – means Relative Strength and is used in momentum investing and in identifying value stocks.