Copper futures brush 3-week low as traders cut energy demand bets
Copper futures have pared losses and now sit roughly unchanged on the day at $4.25.
Source – Market Watch
News
Silver Price Forecast – Silver Continues to See Sideways Action
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
Silver prices rise
New Delhi, Jan 29 (PTI) Silver prices on Wednesday marginally rose Rs 6 to Rs 91,057 per kilogram as participants increased their bets.
Globally, silver was trading 0.14 per cent lower at USD 30.37 per ounce in New York.
Source – Press Trust of India
Gold prices hold steady as investors await US Fed policy cues
Spot gold eased 0.2% to $2,758.49 per ounce by 09:55 a.m. ET (1455 GMT), while U.S. gold futures rose 0.3% to $2,775.60, widening the premium over spot gold rates.
“However, the Fed’s commentary in regards to the potential for an interest rate cut in the March meeting is going to be in focus,” said David Meger, director of metals trading at High Ridge Futures.
Elsewhere, spot silver gained 1.7% to $30.92 per ounce, platinum also added 0.5% to $946.45. Palladium was up 0.8% to $962.50.
Source – Reuters
Gold prices rebounded on Tuesday from Mondays selloff
Gold prices are “not even that far away from all-time highs, so the upward momentum is there, we just need some kind of trigger to get it going,” Blue Line Futures chief market strategist Phillip Streible said.
Front-month Comex gold (XAUUSD:CUR) for January delivery settled +1.1% to $2,766.80/oz, gold’s 11th gain in 15 sessions, and front-month January silver (XAGUSD:CUR) closed +1.5% to $30.727/oz.
Source – Seeking Alpha
India’s Hindustan Zinc sees strong 2025 growth on higher volumes, CEO says
“We have gone through all our shutdowns and proprietary maintenance and all that in the first three quarters. We should be able to produce a stellar fourth quarter based on our numbers,” Misra told Reuters in an interview.
Misra expects zinc prices to rise to $2,850-$2,950 a ton in the coming days from $2,800 currently, and silver to trade between $30 and $31 per ounce.
Source – Reuters
President Trump said he will impose tariffs on aluminum and copper
“We have to bring production back to our country,” he said.
“In the US, manufacturers will have little choice but to pass on higher costs from imports to consumers until the downstream industry (refining/smelting) has undergone suitable investment,” said Natalie Scott-Gray, senior metals analyst at StoneX.
“If Trump imposes tariffs, it will have an adverse impact particularly on aluminum because Europe is already on path to impose a carbon tax and the UK might do it too,” said B.K. Bhatia, additional secretary general at the Federation of Indian Mineral Industries.
Source – Mining.com
Vizsla Silver Corp. reports end-of-year summary for 2024
The company’s stock has shown impressive momentum, delivering a 42% return over the past year according to InvestingPro data.
InvestingPro analysis indicates the stock is currently undervalued, with analyst price targets ranging from $3.25 to $3.77, suggesting significant upside potential.
Source – Investing.com
Over the weekend!
‘Pivotal Moment’—Coinbase CEO Predicts When Bitcoin Price Could Flip Gold’s $18 Trillion
“Any country with gold reserves should be holding at least 11% of that amount in bitcoin reserves,” Armstrong posted to X in response to criticism of Trump’s plan for a national bitcoin reserve. “And I believe in the next five to 10 years bitcoin’s market cap will likely surpass gold. So these reserves should grow to exceed gold.”
“We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC.
Source – Forbes
Korea Zinc’s shares rose sharply
The stock climbed 12% on Friday, its steepest one-day gain in nearly two months, outperforming the benchmark Kospi index’s 0.85% rise.
The extraordinary shareholders’ meeting had initially been called by private-equity firm MBK Partners and Korea Zinc’s major shareholder Young Poong, which have teamed up and increased their combined stake to more than 40% since September for control of the smelter, to reshape its board and management led by Chairman Yun B. Choi.
Source – The Wall Street Journal
Gold is edging closer to new record high
The yellow metal’s February futures contract climbed $13.90, or 0.5%, to finish at $2,778.90 an ounce on Comex Friday.
“gold’s run to and past $3,000 is only held back by the strong U.S. dollar index,” said Peter Spina, president and founder of GoldSeek.com.
Source – Market Watch