Chilean state miner Codelco, the world’s largest copper producer, is targeting production of 1.391 million metric tons of the red metal this year, according to an unpublished government decree approving its 2025 budget reviewed by Reuters.
In calculating its budget, Codelco forecast a copper price of $4.30 per pound and expects a cash cost of $1.98 per pound, the document showed.
Source – Reuters
Silver prices edged lower Tuesday, giving back some of Monday’s strong gains that saw the market break through key resistance at $33.70. The retreat reflects profit-taking as traders reassess short-term positioning, with rising attention on the U.S. dollar and gold’s technical posture.
At 12:34 GMT, XAGUSD is trading $34.29, down $0.46 or -1.34%.
Source – FX EMPIRE
Despite the losses of the last few days, the Copper price on the Comex is up a good 25 percent since the beginning of the year, almost on a par with tin. But on the LME, too, Copper is trading around 10 percent higher than at the beginning of the year, Commerzbank’s commodity analyst Barbara Lambrecht notes.
Source – FX Street
U.S. President Donald Trump hasn’t yet imposed import tariffs on copper but the market is already pricing in the likelihood that the red metal will be next on the list after aluminium and steel.
The arbitrage between the CME and the London Metal Exchange (LME) contracts has blown wider in recent days, with the CME premium exceeding $1,000 per metric ton earlier this week.
Source – Reuters / Written by Andy Home / Opinion
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Spot gold fell 0.1% to $2,916.75 an ounce as of 11:55 a.m. ET (1655 GMT), after rising in the last three sessions. U.S. gold futures were flat at $2,925.
“We are just seeing some mild profit-taking pressure from recent gains, the underlying fundamentals are still bullish… Another thing that’s putting some mild pressure on the gold market is a rise in bond yields,” said Jim Wyckoff, senior market analyst at Kitco Metals.
The benchmark 10-year U.S. Treasury yield hit a more than one-week high, reducing the appeal of non-yielding gold.
Spot silver dipped 0.2% to $32.70 an ounce, palladium was steady at $942.25 and platinum was down 0.3% at $966.63.
Source – Reuters
In a powerful and timely interview, Francis Hunt of The Market Sniper sat down with Jp Cortez, Executive Director of the Sound Money Defense League, to discuss the accelerating legislative efforts to restore gold and silver as constitutional money across the United States.
Source – Money Metals – Video Interview
