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China urges US to stop potential tariffs on copper

ByVictoria

China urged the United States on Thursday to halt an investigation into potential new tariffs on copper imports to rebuild U.S. production of the critical metal, vowing to retaliate if Chinese entities got caught up in the levies.

“We urge the U.S. side to withdraw its investigation as soon as possible,” He said.

“If the U.S. insists on imposing tariffs and other restrictive measures, China will resolutely take the required steps to safeguard its legitimate rights and interests,” He said, without giving any further details.

Source – Reuters

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    Florida Senator Proposes Bill To Recognize Gold, Silver, And Digital Currency As Legal Tender

    ByVictoria
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    Follow up to Gold and Silver may be adopted as legal tender in Florida

    Sponsored by Senator Rodriguez, Senate Bill 132 aims to redefine financial transactions, taxation, and payment of debts using these alternative forms of currency.

    The legislation would also exempt transactions involving gold, silver, and related currencies from taxation. The move reflects a growing interest in alternative monetary systems as a hedge against economic uncertainties.

    The proposed bill includes several significant measures:

    ・Definition of Legal Tender:

    ・Tax Exemptions:

    ・Government Acceptance:

    ・Prohibition on Compulsion:

    ・Regulatory Framework:

    If passed, SB 132 would make Florida one of the few states to officially recognize gold, silver, and digital currencies as legal tender.

    Source – Tampa Free Press

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    Gold and silver fall

    ByVictoria
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    Spot gold was down 0.4% at $3,101.01 an ounce, as of 0710 GMT. Still, bullion was on track for a fifth consecutive weekly gain, buoyed by its safe-haven appeal that aided gold to reach three record highs this week.

    “Gold tends to rally amid difficult-to-price uncertainty – like the start of a war – but tends to lose that support once markets learn how to price the risks involved,” said Ilya Spivak, head of global macro at Tastylive.

    “The Trump administration seems to have picked a road, and while sentiment clearly doesn’t like it, at least the path of least resistance is more visible and easier to price. That is trimming some of gold’s “market confusion” premium.”

    Spot silver declined 1.5% to $31.4 an ounce, platinum lost 0.8% to $944.80, and palladium was steady at $928.33.

    Source – Reuters

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    Gold up Silver down

    ByVictoria
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    The price of 24-carat gold surged by Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 78,830 according to the GoodReturns website. The price of silver fell by Rs 100, with one kilogram of the precious metal selling at Rs 92,400.

    The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata, Chennai, and Hyderabad at Rs 78,830.

    Source – Business Standard

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    Silver jewelry demand increasing

    ByVictoria
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    Industrial silver demand set a record last year, but despite the increase in offtake, overall silver offtake declined by 3 percent to 1.16 billion ounces, primarily due to weak investment demand.

    Silver jewelry demand grew by 3 percent to 208.7 million ounces in 2024.

    The Silver Institute reported that improving exports to key Western countries also lifted silver jewelry demand.

    Growth in demand for silver jewelry will likely contribute to increasing overall demand, putting further pressure on already limited silver supplies.

    Source – Money Metals

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    Gold close to reaching $3000

    ByVictoria
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    It appears that the Federal Reserve is on hold when it comes to moving interest rates until midyear, said Peter Grant, vice president and senior metals strategist at Zaner Metals. But “most of the other major central banks remain in easing mode, providing an additional tailwind for gold.” Ongoing trade and geopolitical uncertainty suggest upside potential to the psychologically important $3,000 level, he said.

    Source – Market Watch

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    Gold lost .2%, Silver up, Platinum fell

    ByVictoria
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    Gold eased on Monday due to slightly firmer U.S. Treasury yields and profit-taking following last week’s sharp rally driven by weak U.S. jobs data.

    Spot gold lost 0.2% to $3,356.91 per ounce, as of 1051 GMT, after rising more than 2% on Friday.

    “The market will remain range bound with today’s pullback being in line with some the reversals seen across markets following Friday’s big moves, especially yields which are a tad firmer and stocks which have seen a rebound,” Saxo Bank’s head of commodity strategy, Ole Hansen, said.

    Spot silver rose 0.3% to $37.14 per ounce, platinum fell 0.3% to $1,311.38 and palladium was down 0.8% at $1,199.08.

    Source – Reuters