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
Copper prices drifted higher on Wednesday as investors waited for details of U.S. reciprocal tariffs, but tin extended a rally to its highest in nearly three years on supply fears.
Benchmark three-month copper on the London Metal Exchange (LME) was up 0.2% at $9,711 a metric ton by 0953 GMT after slipping to its weakest in three weeks at $9,668.50.
“Investors are confused, they’re uncertain about the outlook. It’s mostly tariff-related, although there’s also global conflict, currency debasement and confusion around central bank policy,” said Tom Price, head of commodities strategy at Panmure Liberum.
“Aluminium gives you an insight into what copper might do. It has gone through the first phase of factoring in the cost of tariffs and now it’s going into the second phase, where demand is deteriorating,” Price said.
Source – Business Recorder
“Silver’s been a laggard, and some would refer to it as the Cinderella metal, because it always misses the ball. Having said that, silver has finally woken up and broken above some key technical resistance,” independent analyst Ross Norman said. If current momentum continued, silver could challenge the $35 level, he added.
“Silver has a long history of higher volatility than gold, and that when gold makes a decisive move, silver’s amplitude is usually 2.0-2.5 times that of gold,” StoneX analyst Rhona O’Connell said in a recent note.
Source – Reuters
“Under the proposed law, the Texas Comptroller would issue gold and silver specie (coins) through the Texas Bullion Depository and also establish gold and silver transactional currency defined as ‘the representation of gold and silver specie and bullion held in the pooled depository account,’” wrote Mike Maharrey, Communications Director at the Tenth Amendment Center. “The Depository would be required to hold enough gold and silver to back 100 percent of the issued currency.”
If approved, the bills would enable “Holders of gold and silver specie and currency to use them as ‘legal tender in payment of debt,’ in the state of Texas,” he noted. “The gold and silver-backed currency would be electronically transferable to another person. Gold and silver-backed currency would be redeemable in specie or at the spot price of gold in U.S. dollars minus applicable fees.”
Source – KITCO News
Northeast Numismatics of Concord, Massachusetts, is the lone supplier of the special 2025-dated commemorative coin altered for this occasion. “We realized we were coming up on the 250th anniversary a few years ago and got the idea to do something special,” said Northeast owner Tom Caldwell.
The five-year (2021-25) First Amendment to the United States Constitution coin series concludes this month with the release of the final issue.
The $100 platinum proof coins are priced at $1,545, and mintage is limited to 9,000. To order, visit the U.S. Mint’s website.
Source – The Reading Room
The Missouri legislature has passed a bill that would allow the state government to accept gold and silver as payment for taxes and other transactions
The legislation, led by Republicans, would require state government entities to accept electronic versions of gold and silver, called “electronic specie currency,” as payment for taxes and public debts. The bill doesn’t require businesses to accept gold and silver as payment for private uses, but it would allow them to do so.
“The goal is about restoring economic and political freedom back to everyday Missourians,” state Rep. Bill Hardwick (R) said.
Source – Just The News
“We have to bring production back to our country,” he said.
“In the US, manufacturers will have little choice but to pass on higher costs from imports to consumers until the downstream industry (refining/smelting) has undergone suitable investment,” said Natalie Scott-Gray, senior metals analyst at StoneX.
“If Trump imposes tariffs, it will have an adverse impact particularly on aluminum because Europe is already on path to impose a carbon tax and the UK might do it too,” said B.K. Bhatia, additional secretary general at the Federation of Indian Mineral Industries.
Source – Mining.com
Some finance experts in Simpsonville said they’ve seen a surge in people investing in gold. They said it follows fears over the economy slowing.
Co-owner of JEHM Wealth and Retirement Eric Lahaie told 7NEWS the value of gold has increased by more than 30 percent in the last six months. He emphasized that it is largely because of panic buying.
“The appreciation is all that you’re going to get out of it. It doesn’t produce a dividend. It doesn’t generate interest like a stock, or a bond will do. So, you don’t get that advantage. And then, as I said earlier, it kind of moves in big jumps, and then flattens out for a long time,” said Lahaie.
“If you buy it in a brokerage account, when you sell gold, your gains are taxed at your ordinary income up to 28 percent,” Lahaie also said. “Versus, if you sell stock, as long-term capital gain, you’re going to be taxed somewhere between 15 and 20 percent on the high end. So, that’s kind of a disadvantage for gold.”
Source – KOLR Springfield