B2Gold Corp. stock
Source – MSN
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Copper’s early-year rally leaves investors unimpressed
The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.
Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.
Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.
The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.
Source – Reuters
Switerlands gold exports reach highest since 2022
Over the last two months, 12.9 million troy ounces (401 metric tons) of gold were delivered to COMEX-approved warehouses, raising stocks there by 73.5% to 30.4 million ounces, the highest since July 2022.
According to the Swiss data, gold deliveries from the country to the U.S. rose to 64.2 tons in December from 3.3 tons in the last month of 2023. In March 2022, when global markets were grappling with immediate consequences of Russia’s invasion of Ukraine, Switzerland exported 81.5 tons of gold to the U.S.
Source – US News / Reuters
World Copper Ltd. stock
Source – MSN
Over the Weekend!
The US is moving towards sound money movement
“Everything else that could function as money has been saddled with taxes and disincentives,” Jp Cortez explained, emphasizing how the current monetary system traps people in the Federal Reserve’s fiat currency.
“Ten years ago, only a handful of states were considering sound money policies. Last year, more than 27 states introduced over 65 bills related to sound money.”
Source – Money Metals
Sound money – refers to a reliable and stable medium of exchange that maintains its value over time.
Trump Tariff Fears Spark Disconnect in Silver and Copper Markets
“Investors around the world have started the year looking for protection against sticky and potentially rising inflation, fiscal debt worries and the unpredictability of Trump,” said Ole Hansen, head of commodities strategy at Saxo Bank.
“The market is sleepwalking into a squeeze right now,” Daniel Ghali, senior commodity strategist at TD Securities, said in an interview. “People are completely disregarding this risk.”
Source – Bloomberg / Yahoo Finance
Mining firm Freeport-McMoRan jumps 4%
“American industries depend on copper, and it should be made in America, no exemptions, no exceptions,” Commerce Secretary Howard Lutnick said. “It’s time for copper to come home.”
But while the tariffs could be positive for the domestic metals sector, implemented copper tariffs could amplify costs across several segments of the economy. Copper has a broad range of uses, and its cost is an input in the price of everything from electronics to construction materials.
Trump’s tariff probe sparked a surge in copper futures, which rose 1.76% Wednesday morning.
Source – Markets Insider