Chile’s state-owned Codelco, the world’s largest copper producer, said on Wednesday it would supply copper concentrates to India’s Adani Group’s $1.2 billion smelter, the world’s biggest single-location plant of its type.
The supply will begin this year, said Codelco
Codelco also separately signed a preliminary agreement with Hindustan Copper to cooperate on exploring and processing minerals.
Source – Reuters
In the latest market close, Ero Copper Corp. (ERO) reached $13.17, with a +1.15% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.27%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq increased by 0.03%.
The the stock of company has fallen by 6.67% in the past month, lagging the Basic Materials sector’s gain of 7.68% and the S&P 500’s gain of 4.27%.
The company’s earnings report is set to go public on March 6, 2025.
Source – Zacks.com
Gold prices rose on Monday, supported by a weaker U.S. dollar ahead of U.S.-China trade talks aimed at resolving tensions, while platinum extended gains for a sixth straight session to scale a four-year peak.
Spot gold rose 0.4% to $3,323.71 an ounce, as of 0806 GMT, after dropping earlier in the session to $3,293.29, its lowest level since June 2.
Spot platinum rose 3% to $1,210.80, its highest level since May 2021.
Spot silver was up 1% to $36.3 per ounce, while palladium rose 2.3% to $1,070.97.
Source – Reuters
Gold eased on Wednesday as the dollar ticked up, while investors awaited U.S. inflation data to gauge the Federal Reserve’s rate cut path amid trade tensions and economic slowdown fears and market focussed on news of a potential Ukraine-Russia ceasefire.
Spot gold fell 0.2% to $2,908.93 an ounce as of 0720 GMT, while U.S. gold futures lost 0.2% to $2,908.93.
“Gold is operating in ‘consolidation mode’ ahead of the next batch of U.S. inflation data,” KCM Trade chief market analyst Tim Waterer said.
“I expect gold to remain a favoured asset whilst investors are concerned about tariff wars and growth slowdowns. So, the bias for gold remains to the upside due to ongoing tariff dramas,” Waterer said.
Spot silver shed 0.7% to $32.70 an ounce, platinum rose 0.7% to $981.29 and palladium slipped 0.8% to $938.00.
Source – Reuters
Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key U.S. inflation data for clues on the Federal Reserve’s interest rate trajectory.
Spot gold XAU= was up 0.3% to $3,330.69 an ounce at 1122 GMT. U.S. gold futures GCcv1 were up 0.3% to $3,351.60.
“Gold should remain supported as long as global trade tensions risk escalating further, or even just staying elevated for longer.”
“We expect silver to reach $38/oz in the coming months. Market deficit considerations and a weaker USD hold the key for even higher prices – a test of $40/oz is possible,” UBS said.
Source – Reuters
“Gold extended gains on Friday, with spot gold in the domestic market hitting fresh all-time highs,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
“Prices in MCX are near record high as Trump trade policies and tariff plans created an uncertain environment in the market, which may boost safe-haven demand,” Deveya Gaglani, Research Analyst-Commodities, Axis Securities, said.
Comex silver futures also increased 1.53 per cent to USD 31.32 per ounce in the Asian market hours.
Source – Press Trust of India
If the United States Mint moves forward with plans to produce a 24-karat gold Sacagawea dollar on the 25th anniversary of the series in 2025, it will be the first time the issue is produced in .9999 fine gold.
The bureau is considering producing the gold dollars at the West Point Mint with the facility’s W Mint mark. Bureau officials have not disclosed what finish would be used for the 25th anniversary gold dollars nor any mintage limit.
The proposed 25th anniversary Sacagawea gold dollar will feature the designs that appeared on coins released into general circulation in January 2000, bearing the so-called “13 tail feathers,” with the same inscriptions as originally featured on the 2000 coins, with no mention of gold weight or fineness.
Source – Coin World
