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
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Copper in a slump
London Metal Exchange (LME) three-month copper slumped to a 17-month low of $8,105 per metric ton on April 7 after China responded to U.S. tariffs in kind.
Citi, which now expects copper to hit $8,000 per ton over the next three months, warns that commodity markets are still not pricing the full potential impact on demand.
Copper as a macro play cannot but reflect the broader market concerns about the negative impact of an escalating trade war between the United States and China on the world economy.
But at a micro level, the specific threat of U.S. tariffs on the metal is pulling normal trade patterns out of shape and causing both LME and Shanghai exchange inventories to fall.
Source – Reuters
Copper Price Today
Source – Money Metals
Alamos Gold CEO discusses company and 2025 outlook
“Trying to guess what happens next is a serious challenge.” CEO John McCluskey of Alamos Gold
Source – CNBC / Video
Gold and Silver latest forecast
Gold (XAU/USD) falls toward $3,270 as weak Chinese demand and mixed U.S.-China trade signals weigh on sentiment.
Silver (XAG/USD) slips to $32.96 amid softer Chinese demand and cautious market mood fueled by trade uncertainty.
Gold defends the $3,270 triple-bottom zone, while silver stabilizes near $32.96.
Source – FX Empire
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
Chinas Laopu Gold dubbed “Hermes of Gold”
With prices for most of its popular products ranging from 10,000 to 50,000 yuan, Laopu now competes more directly with Western luxury brands such as Tiffany and Cartier.
As rising gold prices in 2024 pushed investors toward bullion and coins and gold jewellery sales in China fell 24.69% to 532.02 tonnes, Laopu twice raised prices on its designer jewellery and trinkets. It again upped prices by 5-12% last month.
But analysts say Laopu is a contender to fully break through the luxury glass ceiling.
“It’s not an imminent threat to global luxury groups because to build a luxury brand takes a long time. You need a story, you need a history, you need the craftsmanship, but it’s possible,” said Jonathan Yan, a principal at consultancy Roland Berger in Shanghai.
Source – Reuters