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Copper and Aluminum drop

ByVictoria

Base metal prices plunged early Friday, with three-month benchmark copper on the London Metal Exchange recently -3.7% at $8,985.50/metric ton and three-month aluminum  -1.4% at $2,422.50/ton, as President Trump’s worse than expected tariffs trigger global growth slowdown fears, sparking a selloff in industrial metals and mining equities.

Copper and aluminum have dropped 8.7% and 7.7%, respectively, so far this week, as the tariffs drag down demand forecasts

Trump hit China with a 34% “reciprocal” tariff on top of existing duties, and China announced Friday that it will likewise impose 34% tariffs on all U.S. goods starting April 10.

“While we remain structurally bullish copper in the long run, weaker global GDP and copper demand growth risk delaying the deficit we expect to see in the market this year,” Goldman Sachs wrote.

Source – Seeking Alpha

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    Spot gold rose 2.6% to $3,415.24 an ounce at 10:46 a.m. ET (1446 GMT). Prices hit a record high of $3,424.25 earlier in the session.

    U.S. gold futures rose 3% to $3,426.30.

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    Gold prices firmed on Wednesday as weaker-than-expected jobs data fueled hopes of the U.S. Federal Reserve cutting rates sooner than anticipated, while investors also awaited the upcoming non-farm payrolls report for further cues on monetary policy

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    Washington State No Longer Tax Free for Gold & Silver

    ByVictoria
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    January 1, 2026, a significant regulatory shift took hold in Washington State, fundamentally altering the landscape for physical metal investors. The implementation of Engrossed Senate Substitute Bill (ESSB) 5794 officially repealed the state’s long-standing sales tax exemption on precious metal bullion and monetized coins. For the first time since 1985, residents in the Evergreen State must now pay a statewide 6.5% sales tax—plus local surtaxes that can push the total levy as high as 10.6%—on every ounce of gold or silver they acquire.

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    ByVictoria
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    Spot gold was up 0.2% at $2,908.50 per ounce, as of 0240 GMT. Bullion hit a record peak of $2,942.70 on Tuesday. U.S. gold futures firmed 0.3% to $2,936.50.

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    Source – Reuters